? 30 Second Market Brief (30 Oct 23)

No time to keep up to date with markets?

No problem.

Here's a?quick 30-Second Summary:

International Update

• US GDP grows 4.9% in Q3, beating expectations.
• US inflation (Core PCE) decreases slightly to 3.7% in Sep.
• US stocks decline amid mixed earnings and rate concerns.
• ECB keeps rates unchanged, suggesting peak in eurozone rates.
• Euro stocks edge lower amidst economic and Middle East concerns.
• Japanese inflation accelerates, stock market declined.
• China stocks rise on increased government economic stimulus.
• Gold surpasses $2,000/ounce amid Middle East tensions.
• Markets mostly down: S&P 500 (-2.08%), Nasdaq Composite (-2.29%), Dow Jones (-2.12%), Euro Stoxx 50 (-0.26%), FTSE 100 (-1.50%), Nikkei 225 (-0.86%), Shanghai Composite (+1.16%), Gold (+2.32%)

SA Update

• Finance Minister issues grave warning about public finances and debt.
• Concerns of alarming annual debt servicing costs of R366 Bn.
• Medium-Term Budget Statement (1st Nov) to plan reduce spending.
• Eskom reports progress in fighting load shedding this week.
• JSE All Share Index falls -1.06%, following global trend.
• The rand strengthens slightly, R18.86/$.
• Springboks win Rugby World Cup again!

And that's it. You're all caught up for the week.

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See you next week.

Sean ??

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