? 30 Second Market Brief (3 June 2024)

Stay informed without the time commitment.

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

Let's dive in.

International Update

• Trump found guilty, sentencing on 11 July, jail unlikely.
• Latest US inflation data in line with expectations.
• Euro inflation up to 2.6% but rate still cut likely this week.
• Japan spent $62.25B to support yen over May.
• China's manufacturing PMI dips to 49.5, signals contraction.

• Positive Market Moves: N/A.
• Negative Market Moves: Dow Jones (-0.98%), S&P 500 (-0.51%), Nasdaq (-1.10%), Euro Stoxx 50 (-1.03%), FTSE 100 (-0.51%), Nikkei 225 (-0.41%), Hang Seng (-2.70%), Shanghai (-0.07%).

South African Update

• ANC loses majority, leads with 40.2%.
• Zuma's MK Party dominates KZN with 46%.
• Coalition talks expected; ANC, DA, MK Party involved.
• SARB holds repo rate steady at 8.25%.
• Inflation expected to stabilise at 4.5% by Q2 2025.
• SA GDP growth forecast still at 1.2% this year.
• JSE ALSI down -3% on election uncertainty.
• Rand weakens 1.66%, ends at R18.75/$.

Week Ahead

• More news on SA election results and coalition talks.
• US jobs report Friday may affect Fed rate decisions.
• ECB likely to cut rates Thursday, diverging from US.
• OPEC meeting Sunday to discuss extending output cuts.
• Canada expected to cut rates Wednesday.

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

Find this newsletter helpful?

Be a pal, and hit Share.

Sean ??

Also: When You're Ready, Here Are 2 Ways I Can Help You...

1. Protect Your Wealth & Build an Offshore Nest-Egg. Book a Call
2. Grab my FREE Offshore Investing Handbook. Download Here