? 30 Second Market Brief (10 June 2024)

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Here's this week's 30-Second Summary.

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International Update

• US manufacturing activity falls, signals contraction.
• On the contrary, US services sector?rebounds strongly.
• US adds 272,000 jobs, beating expectations.
• Eurozone cuts interest rates?for first time in five years.
• Eurozone business activity?accelerates, driven by services sector.
• UK manufacturing & services sectors slow, inflation pressures ease.
• China's exports?exceed expectations, imports slower than expected.
• China manufacturing and services sectors expand (Caixin/S&P survey).

• Positive Market Moves: Dow Jones (+0.29%), S&P 500 (+1.32%), Nasdaq (+2.38%), Euro Stoxx 50 (+1.36%), Nikkei 225 (+0.51%), Hang Seng (+1.44%).
• Negative Market Moves: FTSE 100 (-0.51%), Shanghai (-0.07%).

South African Update

• SA economy contracts contracts 0.1% in Q1.
• SA manufacturing drops significantly, signals contraction.
• ANC plans national unity government?after losing majority.
• JSE ALSI up slightly (+0.19%).
• Rand weakens, ends at R18.86/$.

Week Ahead

• US Fed decision: Rate hold expected (Wed).
• US inflation data: Critical for Fed statement (Wed).
• UK jobs report: To influence UK's rate decisions (Tues).
• UK GDP data: Growth likely slowed (Wed).
• Japan (BOJ) meeting: possible taper of quantitative easing (Fri).

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

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