The week in perspective
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Happy spring Day
Sadly, it’s not so happy for markets with stocks staggering into September this morning with the dollar spiking as investors greeted Spring in the southern hemisphere and autumn in the northern by selling everything that was not nailed down after a month battered by concerns about aggressive rate hikes from global policymakers.
Regional purchasing managers' indexes from South Korea, Japan and China on Thursday all pointed to slowing global economic activity as high inflation, rising interest rates and the war in Ukraine took a heavy toll. read more
Overnight, Cleveland Fed President Loretta Mester said the U.S. central bank would need to boost interest rates somewhat above 4% by early next year and hold them there in order to bring inflation back down to the Fed's goal, and that the risks of recession over the next year or two had moved up.
U.S. stocks ended the month with the worst August performance in seven years. For the month, the Dow Jones Industrial Average fell 4.06%, the S&P 500 4.24% and the Nasdaq 4.64%.
The JSE all share ended down just over 2% for the month.
To put the week into perspective Michael Avery is joined by Warwick Lucas, Head of Galileo Securities; Isaah Mhlanga, Chief Economist at Alexforbes & Raymond Parsons, Professor at School of Business and Governance NWU
Sadly, it’s not so happy for markets with stocks staggering into September this morning with the dollar spiking as investors greeted Spring in the southern hemisphere and autumn in the northern by selling everything that was not nailed down after a month battered by concerns about aggressive rate hikes from global policymakers.
Regional purchasing managers' indexes from South Korea, Japan and China on Thursday all pointed to slowing global economic activity as high inflation, rising interest rates and the war in Ukraine took a heavy toll. read more
Overnight, Cleveland Fed President Loretta Mester said the U.S. central bank would need to boost interest rates somewhat above 4% by early next year and hold them there in order to bring inflation back down to the Fed's goal, and that the risks of recession over the next year or two had moved up.
U.S. stocks ended the month with the worst August performance in seven years. For the month, the Dow Jones Industrial Average fell 4.06%, the S&P 500 4.24% and the Nasdaq 4.64%.
The JSE all share ended down just over 2% for the month.
To put the week into perspective Michael Avery is joined by Warwick Lucas, Head of Galileo Securities; Isaah Mhlanga, Chief Economist at Alexforbes & Raymond Parsons, Professor at School of Business and Governance NWU
