The infoshot to help kick-start your week
- A sell-off in US government bonds was stimulated after Jerome Powell, the chair of the US Federal Reserve (Fed), insisted that US inflation remained too high and further action may have to be taken to bring it back down. The comments came at the eagerly anticipated Jackson Hole conference on Friday where the Fed suggested that rates may have to stay higher for longer to bring inflation down to its 2 per cent target.
- Nvidia shares hit an all-time high on Thursday after the chipmaker’s revenue more than doubled in the last quarter as demand for chips to train new AI models soared. Shares opened above $500 on Thursday but have since dropped off as investors took profits. After the results were released, over 17 brokers reassessed and raised their price targets for the shares.
- The number of new US unemployment benefit claims fell for the second straight week in a signal that the labour market remains tight in the US. Initial claims fell by 10,000 to 230,000 in the week ended August 19th. The tight labour market has added to further signs that inflation pressures remain.
- US Q2 GDP data released, August 30th, 1:30pm.
- EU CPI data released, August 31st, 10:00am.
- US August Unemployment Rate, September 1st, 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