Market Update: August 2024 Overview

August 22, 2024
Market Update: August 2024 Overview

U.S. Market Outlook:

The U.S. continues to see a rebound, with hopes for a “soft landing” gaining traction. The Nasdaq led growth as tech stocks like NVIDIA surged. Strong retail sales and stabilising inflation reinforced consumer confidence, though housing activity weakened. Meanwhile, bond yields remain volatile amid mixed economic signals.

European Developments:

European stocks rose on expectations of rate cuts, with the STOXX 600 gaining 2.46%. The UK’s inflation uptick spurred rate speculation, while steady growth in the Eurozone contrasted with Germany’s struggles.

Asia Focus:

Japan’s markets rallied 8.7%, boosted by a weaker yen and growth optimism. Speculation around the Bank of Japan’s policies and political shifts added some uncertainty. In China, equities managed slight gains despite ongoing economic slowdowns, with housing data indicating further declines.

For tailored advice on navigating these market changes, feel free to reach out to Ramsay & White.

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Market Update: August 2024 Overview

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