AHR Weekly Market Update - Monday 9th October
On this week’s AHR Market review..Equity market performance was mixed over the week as investors looked to Friday’s US jobs data for signs of how resilient the US labour market has been and what that might mean for interest rate expectations moving forward.The U.S. labour market’s resilience continued to dampen the near-term prospects of a recession, as the gain of 336,000 jobs in September was the biggest in eight months and roughly double the number that most economists had been expecting.US equities posted a small gain for the week whilst US technology recorded an almost 2% gain. The higher for longer narrative around interest rates continues to weigh on fixed income markets as they endure one of their worst periods on record.Prospects of lower global demand for petroleum weighed on oil prices, and U.S. crude dropped to around $83 per barrel for a nearly 9% weekly decline, the biggest since March 2023. Thank you for listening and for further investment insights head over to ahrprivatewealth.com.