News

Euro STOXX 600 continues winning streak while US stocks pressured by tariff and DeepSeek concerns

Wall Street experienced a mixed week, with investors navigating earnings, economic data, tariff concerns, the latest Federal Reserve meeting as well as the emergence of the DeepSeek artificial intelligence (AI) model.

US equities rise in first week of Trump presidency

In the first week of Donald Trump’s return to the White House, US stocks moved higher for the holiday shortened trading week.

Market Reflection and EFG Harris Allday View

2024 has been another eventful year for global economies and financial markets.

S&P 500 has best week since November

After two weeks of declines, US stocks sprang back into action and saw their best week since November’s post-election rally. Stocks found support from consumer price index (CPI) data released on Wednesday, with core inflation rising 0.2% in December, its smallest rise since July. For the week the S&P 500 rose 2.9%, the Dow Jones Industrial Average climbed 3.7% and the Nasdaq Composite added 2.5%.

Bond market sells off and expectations for Fed rate cuts diminish

In the US, a holiday shortened week saw choppy trading, with the major stock indices logging their second consecutive week of losses.

Global Market Review – December 2024

A combination of US dollar strength and rising bond yields led to subdued performance across most asset classes in December, however this did little to pare strong overall yearly returns for global equities and gold.