Monday Market Update I 29-Jan-2024
Headline inflation is on the decline, while core inflation lingers at 4%, potentially causing the Federal Reserve System (Fed) to be cautious about an early reduction in interest rates.
The unexpected 3.3% growth in the U.S. economy in Q4, fuelled by strong consumer spending, defies concerns of a recession.
Investors eagerly await insights into future interest rate decisions with the release of the Federal Reserve Open Market Committee Meeting Minutes; it is widely expected that the Fed will keep interest rates unchanged.
The upcoming U.S. jobs report foresees the addition of 177,000 new jobs, indicating a slowdown in the labor market.
Meanwhile, on Thursday, the Bank of England (BoE) is expected to keep interest rates steady.
As earnings season unfolds, the spotlight is on five of the “Magnificent Seven” giants, including Alphabet, Apple, Meta, Amazon, and Microsoft.
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