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U.S equities breaking records daily

PSK Weekly Wrap

Gold surges through US$2,000

7 August 2020

The gold price pushed through US$2,000 per ounce for the first time ever, with investors continuing to pile into gold ETFs. The weakness in the US dollar and very low interest rates have pushed gold prices up in the short term whilst the prospect of negative real rates (ie. interest rates adjusted for inflation) in the longer term are also supporting the price surge. Read more..

PSK Weekly Wrap

Markets finally take some notice of poor economic data

31 July 2020

Equity markets largely saw selling pressure this week as virus and economic concerns dampened investor sentiment. Read more..

PSK Monthly Newsletter

In conversation with PSK

28 July 2020

In this live recording PSK’s Chief Investment Officer, Chris Lioutas answered a variety of questions ranging from the future of global markets, the impact on markets in the absence of a vaccine through to impact of current events on the residential property market. Read more..

12 Jan 2018

U.S equities breaking records daily 


Markets

  • The Aussie share market finished lower this week as investors took profits whilst bank stocks fell on no new news.
     
  • The US equity market finished higher, continuing to set new all-time highs.
     
  • Asian markets were up, with the exception of Japan, where the Yen rose (hurting exporters) on news the Bank of Japan may be changing policy settings.                                                                                             
  • The market capitalisation of the US equity market has grown from US$7.6 trillion at the depths of the GFC (March 2009) to US$29.99 trillion currently.
     
  • The latest data showed that there are 742 active US oil rigs (including shale), which is some 213 more than were operating a year ago. Higher oil prices plus rising economic growth has brought many rigs back on line.
     
  • Oil prices moved higher, boosted by a surprise drop in US production, lower crude inventories, and rising Middle East tensions

 

Economics 
 

  • Australian residential building approvals surged by 11.7% in December, coming in significantly above market expectations which centred on a fall. Data was very mixed across the country.
     
  • Job vacancies in Australia climbed to their highest on record in the 3 months to November, continuing a strong run of gains, which further supports a strengthening labour market. Job vacancies are now at their highest levels since the data series began in 1979, leaving vacancies 16% higher than a year earlier.
     
  • Australian retail sales jumped 1.2% in November, coming in much stronger than expected. The data pushed the Aussie dollar higher. The strong gain was driven by household goods, with clothing, footwear and restaurants all seeing gains. Department store sales continued to fall.                                                                                                                                                                             
  • US job growth slowed and came in lower than lofty expectations, following a decline in retail employment. But a pickup in monthly wages shows the US labour market remains strong. 148,000 new jobs were added in December.
     
  • Plenty of US central bank speeches indicate that the bank is happy with the pace of economic growth, believe employment is full, aren’t too worried about inflation, and are on track to raise rates 2-3 times this year.
     
  • US consumer borrowing rose in November by the largest monthly amount in 16 years, the 3rd straight solid monthly gain. Consumer confidence is very strong, but the level of consumer debt is worrying at US$3.83 trillion and growing.                                                                                                                                                                                                                                            
  • Economic sentiment in the Eurozone is at its highest level since May 2000 and well ahead of consensus.
     
  • UK consumer spending fell in 2017 for the first time in 5 years, not helped by the ongoing Brexit saga, the UK political mess, and rising inflation.
     
  • China’s foreign reserves climbed for an 11th month in a row to US$3.14 trillion in December, as the government looks to rebuild its gargantuan reserves. However, recent reports have indicated that they may begin to pare back their purchase of US Treasuries.   

 

Politics

  • Germany has still yet to form government, however, Chancellor Merkel sounds more optimistic about reaching a deal with the Social Democrats and avoiding fresh elections.
     
  • President Trump is expected to undergo his first medical check-up since taking office, as questions continue to build regarding his mental stability, following the release of a tell-all inside the White House book.

 

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