The Weekly View 16th July 2024

Welcome to Unio's weekly summary of market and macro news.

It was a positive week for financial markets with investors buoyed by US inflation data, which showed headline inflation falling to 3.0% and spurring a belief in a rate cut in September.

Global equities rose 0.5% over the week with a greater dispersion in returns than what we have seen so far YTD. The Euro also gained strength against the Dollar on rate cut expectations, rising 0.8% over the week.

Quarterly bank results, on the whole, were positive but net interest income fell for JP Morgan and Citi, despite the former posting record profits and the latter beating Wall Street estimates.

This week, the big macro news will be the ECB interest rate call on the 18th whilst large-cap stocks such as UnitedHealth (16th), Johnson & Johnson (17th) and Netflix (18th) will post their quarterly performance.

Watch our investment brief for the week ahead:

At Unio Employee Benefits, we are happy to work with our clients to help provide solutions to help bridge these potential gaps for their scheme members. Contact your client manager directly or get in touch at enquiries@unio.ie