? 30 Second Market Brief (17 June 2024)

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

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International Update

• US inflation unchanged, core inflation (excl. food, energy) up.
• US Fed keeps rates unchanged, raises inflation (PCE) forecast.
• US Fed predicts only one rate cut?by end of 2024.
• European elections?see right-wing gains; Macron challenged.
• UK economy stalls, unemployment rises to 4.4%.
• Japan maintains policy, hints at future bond purchase cuts.

• Positive Market Moves: S&P 500 (+1.58%), Nasdaq (+3.24%), Nikkei 225 (+0.34%).
• Negative Market Moves: Dow Jones (-0.54%), Euro Stoxx 50 (-4.20%), FTSE 100 (-1.19%), Hang Seng (-2.10%), Shanghai (-0.61%).

South African Update

• ANC/DA/IFP form Government of National Unity (GNU).
• Ramaphosa re-elected as President?for second term.
• New cabinet expected to be announced on 21 June.
• SA manufacturing grows 5.3% YoY, confidence up.
• JSE ALSI gains on GNU news (+0.26%).
• Rand strengthens on political news, end at R18.34/$.

Week Ahead

• US retail sales?could signal Fed's rate cut timing (Tues).
• US Fedspeak scattered throughout week, watch for rate clues.
• China releases key economic data; property market focus.
• BoE (UK) meets, unlikely to cut rates pre-election (Thurs).
• Eurozone to release purchasing manager indexes (Fri).

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

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