Stock News Highlights
Weekly round up
It was another volatile week on the global financial markets with the FTSE 100 Index falling by over 2% on the week at the time of writing. Bearish sentiment continues on the back of on-going stagflation fears, tightening monetary policy and slower economic growth.
Global stock markets are on track for their longest streak of weekly losses since the 2008 financial crisis. Central Banks have limited tools to tackle their inflation target mandates. Raising interest rates will impact the demand side of the economy but as one economic analyst points out, ‘it won’t get oil out of the ground’.
Higher interest rates are likely cause more pain in the wider economy. Financial markets are trying to come to terms with a lot and therefore we are seeing volatility at the extreme.
In the commodity markets, Brent crude fell to near $100 before rallying again back to $109. Gold has slipped back over 3% on the week, to trade around $1815 an ounce.
US equity futures were positive on Friday morning but on the back of a very difficult week. There have been heavy falls across all major US indices this week, the S&P 500 down -5%, NASDAQ Composite down -7% and the Dow Jones down -3.8%.
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