Yes, folks, the collective noun for a collection of Canaries is an Opera, and it seems fitting given recent events, and data. In this weeks market review we start with the US – I am often asked why I focus here, and it is because as the USD is so dominant and the US Markets so big, our markets follow like a playful puppy, we hardly think for ourselves, but ape what the US did. And we will also cover Europe and Asia, where several markets were closed on Friday before coming back to Australia.
US stocks resumed their trend of weekly losses after strong hiring data cleared the way for the Federal Reserve to remain aggressive in its fight against inflation. Treasuries fell and the dollar strengthened against peers.
The Dow Jones Industrial Average slipped 1.7%, or 349 points, the Nasdaq fell 2.5% and the S&P 500 fell 1.7%.
Go to the Walk The World Universe at https://walktheworld.com.au/
