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Week in Review: Economic Data in the Spotlight
As first quarter earnings season in the U.S. draws to a close, attention shifted to economic data releases this week. U.S. retail sales (which accounts for two-thirds of U.S. GDP) showed a rebound in consumer spending in May following a slow first quarter, providing evidence that U.S. consumers are still well-positioned. Consumer spending increased in…
Read MoreWeek in Review: U.S. and Mexico Reach Deal to Avoid Tariffs
Global equities ended the week higher, with the S&P 500 rallying 4.4%, the best weekly gain in six months. At the same time bond yields declined to the lowest levels in two years. Increased expectations of a Fed rate cut in July, the U.S. and Mexico reaching a deal to avoid tariffs, all helped stocks…
Read MoreWhy invest in Structured Notes in South Africa?
Times are tough, as the old adage goes, with global and domestic markets responding nervously to various factors, curbing risk appetite. For high-net-worth investors such conditions pose tantalizing questions about where to invest with the least risk and some guarantee of returns. For this, structured notes have always been an excellent option, yet they are…
Read MoreCarrick proudly hosts handing over of nearly R1-million for child burn victims
Leading South African wealth management firm Carrick Wealth was the proud host last week of an event at which its chosen corporate social investment (CSI) partner, the Signature of Hope Trust, handed over a cheque of nearly R1-million to two very deserving charities who will use the funds to completely refurbish the Burn Unit at…
Read MoreWeek in Review: Local markets give President Ramaphosa’s cabinet the thumbs up
The old adage “sell in May” certainly lived up to expectations this month, with global equities coming under pressure as a result of U.S. led trade tensions. Investors were first jolted in early May by a Sunday tweet from President Trump announcing new duties on Chinese imports, upending expectations for a U.S.-China trade deal. On…
Read MoreWeek in Review: The End of May
Theresa May addressed the country from Downing Street in an emotional farewell speech, in which she announced she would step down as leader of the Conservative Party on Friday 7th June. Former Foreign Minister Boris Johnson is seen as the favourite to replace May, having already received nominations for a leadership bid from former Defense…
Read MoreWeek in Review: Trade War Tensions Flare Up
Volatility returned to financial markets early in the week, as rising trade tensions between the U.S. and China drove concerns that global growth could be negatively impacted. China announced retaliatory tariffs on $60bn worth of U.S. goods in response to last week’s tariffs imposed on China. As the week unfolded, markets recovered on optimism that…
Read MoreWeek in Review: ANC Wins SA General Election
At the end of another shortened trading week, major headlines were governed by the South African general election and deteriorated US, China trade negotiations. The African National Congress (ANC) won South Africa’s general election on Saturday, but saw its share of the vote fall relative to previous elections. This reflects the nations frustration around corruption…
Read MoreWeek in Review: South Africans go to the polls
Global equities experienced another mixed week, on the back of healthy corporate earnings out of the US, a solid April jobs report and the Fed reiterating its patient approach to setting rates. The U.S. economy added 263,000 jobs in April, which was higher than the expected consensus of 190,000 jobs, along with steady wage growth…
Read MoreWeek in Review: US Stocks Set Record Highs
U.S. stocks (S&P 500 and Nasdaq), rallied to record closing highs this week, erasing last year’s decline in less than six months. The main driver for stocks this week was corporate earnings. With over 40% of S&P 500 companies having reported results, corporate profits appear to be on track for small gains in the first…
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