The infoshot to help kick-start your week
- Sir Keir Starmer announced that Labour has slashed its headline green spending plan from £28bn annually to just £4.7bn in a major U-turn ahead of the election later this year. Starmer added that half of the new spending plan would be funded from the previously proposed North Sea oil and gas windfall tax with the other half coming from additional government borrowing.
- The S&P 500 index touched 5,000 for the first time on Thursday as it set a new record high. The index has been led higher by large cap stocks such as Nvidia and Meta which have been pushed over 30 per cent higher since the new year. Despite the strong performance from the S&P 500, the equal-weighted version of the index has hardly shifted and still sits below the all-time high that was set at the beginning of 2021.
- UK house prices rose 2.5 per cent in the 12 months to January as lower mortgage rates and weaker inflationary pressure improved buyer confidence. January marked the fourth consecutive monthly rise in house prices with the average home costing £291,000 in the UK which was £3,900 more than in December according to data from Halifax.
- US January CPI data released, Tuesday 13th February 2024 at 1:30pm.
- UK January CPI data released, Wednesday 14th February 2024 at 7:00am.
- UK Q4 GDP data released, Thursday 15th 2024 at 7:00am.
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