Aviso Weekly Market Pulse: July 1st – July 5th

Jul 8, 2024

Market developments

Equities:
Even with a short trading week, the U.S. stock market is approaching new all-time highs, with the S&P 500 on track for its 34th record this year. Traders are focusing on potential Federal Reserve rate cuts despite signs of economic slowdowns. Overall, the market is navigating a complex landscape of economic data, policy expectations, and seasonal trends, with investors closely watching for signs that could prompt Fed action.

Fixed income:
June’s jobs report showed nonfarm payrolls rising by 206,000, exceeding forecasts. However, the unemployment rate increased to 4.1%, and average hourly earnings cooled. Yields dropped as we closed out the week as this data has strengthened expectations for Fed rate cuts, with some analysts eyeing a potential September reduction.

Commodities:
Despite the decline on Friday, oil prices have risen 13% over the past month. This increase is attributed to rising demand during the summer driving season, falling U.S. oil inventories, and restricted supply due to OPEC+ maintaining voluntary supply cuts of 2.2 million barrels per day through the end of September.

Read more…

Recent Posts

Aviso Weekly Market Pulse: July 8th – July 12th

Market developments Equities: The S&P 500 Index climbed to around 5,615 to end the week, showing signs of recovery despite the tech-led selloff in the Thursday session. Major banks kicked off the earnings season with mixed results. Wells Fargo saw a 7% decline due...

The most tax-advantaged sources for a home down payment

If you’re in the market for a home, don’t leave money on the table when saving for your down payment. We’re sharing the different tools you have available to you as a Canadian first time home buyer to save in the most tax-advantaged way. In this article: Down payment...

Aviso Weekly Market Pulse: June 24th – June 28th

Market developments Equities: Stocks rallied towards new all-time highs this week as cooling inflation data strengthened expectations for Federal Reserve interest rate cuts in 2024. The S&P 500 Index touched above 5,500, led by technology stocks, while the Nasdaq...

NEI Monthly Market Insights: May 2024

Equities continue the rally, but economic paths diverge After a brief respite in April, global equities resumed the rally to find higher ground in May, as ongoing moderation of inflation and resilient economic trends continue to boost investor optimism. The S&P...

Aviso Weekly Market Pulse: June 17th – June 21st

Market developments Equities: The U.S. markets experienced a significant options expiration event known as "triple witching," with an estimated $5.5 trillion in contracts set to expire. This event is causing volatility in the stock market, particularly affecting...

Aviso Weekly Market Pulse: June 10th – June 14th

Market developments Equities: France's CAC 40 index was down around 2.6% on Friday, on pace for its largest weekly drop since March 2022, weighing on the broader Stoxx 50 index. The sell-off in French stocks is driven by concerns over the upcoming snap election, where...