AHR Weekly Market Update - Monday 8th January
On this week’s AHR Market review.After a run of nine consecutive weeks of gains, the momentum of global equity markets was finally broken in the first week of 2024 as markets posted a weekly decline. Key employment data from the US during the week showed that the U.S. economy added 216,000 new jobs last month, exceeding most economists’ expectations and producing the biggest monthly gain in three months, while the unemployment rate was unchanged at 3.7%. A rotation within US equities was witnessed during the first week of trading in US markets, as areas such as utilities, energy and consumer staples outperformed. The yield of the 10-year U.S. Treasury bond climbed back above 4.00%, closing the week at 4.04% and snapping a string of three weekly declines, as positive economic data fuelled concerns that the U.S. In contrast to equities and bonds, oil prices ended the week up 3.2%, with WTI Crude at $73.91 per barrel. That’s all for this week’s AHR Weekly Podcast. Thank you for listening and for further investment insights head over to ahrprivatewealth.com.