The infoshot to help kick-start your week
- Wall street saw its worst day since June 2020 on Wednesday, coming after inflation figures for August were unexpectedly high. Despite a decrease since July, the report showed that prices rose 8.3% through August (higher than predicted 8.1%). The Dow Jones Industrial Average sank nearly 4%, the S&P 500 dropped 4.3%, and the Nasdaq plunged more than 5%.
- British and Dutch gas prices fell on Friday, with Norwegian gas flows to Europe stable, and storage levels rising. The developments ease fears of an energy crunch and mandatory rationing for the upcoming winter. The Dutch October contract, the European benchmark, fell €12.15 to €200 per megawatt hour, a 5.7% drop.
- The pound has slid to a new 37-year low against the dollar after a disappointing retail sales report for August. The drop of 1.6% in retail sales comes as households continue to be battered by the cost of living crisis. Sterling fell more than 1% against the dollar, trading as low as 1.1351 at one point.
- Fed Interest Rate Decision announced 21st September
- BoE Interest Rate Decision announced 22nd September, predicted to be a 50 basis point hike.
The performance of each asset class is represented by certain Exchange Traded Funds available to UK investors and expressed in GBP terms selected by Copia Capital Management to represent that asset class, as reported at previous Thursday 4:30pm UK close. Reference to a particular asset class does not represent a recommendation to seek exposure to that asset class. This information is included for comparison purposes for the period stated, but is not an indicator of potential maximum loss for other periods or in the future.Open document settingsOpen publish panel