From 30 June 2022, Praemium’s international business will be known as Morningstar Wealth Platform; Praemium WealthCraft becomes Wealthcraft, a Morningstar company; Smart IM becomes Smart IM, a Morningstar company. Initially these changes are in relation to the brand only. Formal legal name changes will occur in due course following the conclusion of the transaction.
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Economic & Market Overview • The US stock market benefitted from a surge in excitement around Artificial Intelligence (AI). • The US Federal Reserve raised rates by 0.25% in May to take the upper band to 5.25%. • The Japanese stock market hit its highest level in 33 years in June, with strong demand from..
US equities rise by 20% from their most recent low point In a mixed week for markets, US equities managed to squeeze a little higher taking the index up 20% from its most recent low point on the 12th of October 2022, the level often referred to as a bull market. Data out of the..
Signs point to Fed pause and congress approves deal on raising the debt ceiling This week, markets were focused on developments in Washington, where policymakers were inching towards a deal on raising the debt ceiling before a June deadline to avoid an unprecedented government default. There was a collective cheer late on Thursday when the..
US technology stocks buck the trend as the semiconductor company Nvidia, beats sales forecasts by 50% Markets were choppy this week, with the US yet to reach an agreement on the debt ceiling, with a potential default less than a fortnight away. Economic data released this week both in the US and Europe painted a..
Equities rise as hopes to a resolution over the US debt ceiling rise. Equities gained this week as investors gambled that the US debt ceiling would be raised, and thus in turn avoiding a default by the US government, with a bill potentially being put to a vote next week. Aside from this, economic data..
Investor sentiment remains mixed amidst banking worries and US debt ceiling concerns. Jitters over the health of the US regional bank sector resurfaced, dragging down indices towards the end of the week. PacWest Bancorp, the Los Angeles-based lender, announced it had lost 10% of its deposits in the first week of May, prompting its shares..
Continued US regional bank stress and further rate rises leads to a flight to safety. Global equity markets fell this week, whilst US Treasuries rallied against a background of continued stress amongst US regional banks. The US Federal Reserve (Fed) raised rates by 0.25%, its tenth increase since early 2022. However, comments from the Fed..
Technology earnings prop up the US market. This week investors turned their attention to first quarter earnings of some of the world’s largest companies. Upbeat results from Microsoft, Alphabet and Meta helped the US market break even, despite initial fears over the health of the US Regional Banking sector. Earlier in the week, stocks retreated..
Economic & Market Overview • After excluding food and energy, inflation continued to rise, dampening hopes of a pause in central bank rate hikes. • The higher interest rate environment triggered the collapse of two US regional banks. • Technology and consumer discretionary stocks outperformed, whilst energy stocks and financials lagged, a reversal from last..
A mixed week for markets as strong Chinese economic growth collides with varied company results It has been a mixed week for markets, with China reporting economic growth of 4.5% in the first quarter year-over-year, stronger than forecasted, suggesting a strong reopening recovery following the lifting of Covid restrictions. Whilst company results in the developed..
