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AHR Weekly Market Update - Monday 9th September
Manage episode 438953415 series 2891086
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Welcome to this week’s AHR market review for the week ending 8th September 2024.
U.S. stock indexes posted some of the steepest weekly declines in more than a year, as employment data from the US stoked economic growth concerns and AI champion Nvidia came under scrutiny from the Justice Department.
The latest U.S. labour market data confirmed a weakening trend. Early signals of this were evident in the job openings figures, which dropped to around 7.7 million, marking the lowest point this year.
The closely watched nonfarm payrolls report echoed this softer trend, showing only 142,000 new jobs in contrast to the anticipated 165,000.
Despite these concerning figures, the report wasn't all doom and gloom.
US equities fell over 4% for the week and US technology over 6% as the US labour data release increased concerns around economic growth.
The price of U.S. crude oil fell nearly 8% for the week to the lowest level in about 14 months, with the commodity trading for around $68 per barrel on Friday afternoon.
That’s all for this week’s AHR Weekly Podcast. Thank you for listening and for further investment insights head over to ahrprivatewealth.com.
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