24th July 2023

Weekly Espresso

The infoshot to help kick-start your week

Last Week

  • UK inflation dropped to a 15-month low of 7.9 per cent in June. The figure was lower than the 8.2 per cent that was expected and has fallen from 8.7 per cent in May. The news signalled that the UK may be catching up other large economies in bringing inflation down. This has led investors to bet that BOE will increase interest rates by 0.25% rather than the previously expected 0.5% at the next monetary policy committee.

  • The tech-focused Nasdaq Composite Index slumped 2.1 per cent on Thursday, its biggest fall for more than four months. This came after disappointing results from Tesla and Netflix called into question the strong tech rally in recent months. Tesla shares fell nearly 10% on Thursday as the company announced falling profit margins while Netflix lost over 8% of its value due to missing sales targets.

  • Goldman Sachs released its lowest quarterly profits for three years as a slowdown in deals and trading hit the bank. Revenues from its investment bank branch, which the bank is dependent on, fell 20% in the quarter. While banks, such as JP Morgan and Wells Fargo, have been boosted by higher interest rates from their lending business, Goldman has little exposure to this sector and has suffered accordingly.

Market Pulse

Coming Up

  • US Federal Reserve Interest Rate Decision, July 26th, 7:00pm
  • European Central Bank Interest Rate Decision, July 27th, 1:15pm
  • US Q2 GDP data released, July 27th, 1:30pm


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

Risk Barometer


as at latest realignment 30/06/2023


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    Copia Capital Management

    Hamilton House, 1 Temple Avenue, London, EC4Y 0HA

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