Financial Market Reports | Week #8 | GLOBAL

Welcome to Gladstone Associate Provident’s Global Financial Sector Weekly Reports. In this section, we provide you with an overview of the most relevant global financial market events during the week.

This week, markets in the US saw positive movements in the major indices, with the S&P 500 reaching its highest level since August 2022. In addition, the Nasdaq Composite index recorded its sixth consecutive weekly gain. Although an agreement was reached to raise the federal debt limit and avoid a default, investors focused on economic data. Jobless claims rose more than expected, increasing the chances of an interest rate hike by the Federal Reserve. However, the non-farm payrolls report showed mixed signs for the labour market. At the European level, stock indices were flat, with confidence in the Eurozone declining due to the economic slowdown and inflation. In the UK, companies expect a slowdown in wage and price increases. In China, the stock market rose after the US debt ceiling was suspended, but the manufacturing sector showed signs of contraction. In addition, growth in China’s property sector lost momentum in May.