Markets were mixed last week, as earnings per share fell on average versus the week before, even as good earnings from Tech and Healthcare helped markets. In the US, retail sales and manufacturing production both saw positive readings released to the market. Inflation data also came in stronger than expected, although this is unlikely to dissuade the Federal Reserve from cutting interest rates at its July meeting.
Chinese GDP data softened to 6.2% in Q2, which was the slowest pace in several decades. However, it remains to be seen if this was a result of the ongoing trade negotiations, or a deliberate effort from the authorities to slow growth. Earnings this week focusses on some of the big tech names, with Amazon, Facebook, and Alphabet all reporting.
For Zurich Lifes full details of last weeks’ market movements and economic news, click HERE