Global share markets were higher in November, buoyed by Donald Trump’s US election victory. His election promises included tax cuts and deregulation, which are largely seen as good for businesses. Key share market indices in the US hit all-time highs, continuing their great run this year, while markets down under were also on track to finish the month with solid gains.
September was a volatile month for US equities, with most markets retreating early in the month, before resuming their move higher after the Federal Reserve cut interest rates. October is expected to bring more interest rate cuts from several of the world's central banks, while the US election is a matter of weeks away. With a look at this and more, here's ANZ Investments' Month Ahead.
As at 23 August US equity markets have made gains this month, with the S&P 500 Index up 2.2% (with five days left to go). At one point, however, the broad-based index was down by as much as 6%, as July’s employment report showed unemployment rose to 4.3%, the highest level since October 2021, and the number of jobs created was well below expectations. It raised fears the US economy could be headed for a slowdown and perhaps even a recession.
As we head into July, central bank policy remains front-and-centre, with the political landscape in Europe increasingly likely to sway investor sentiment.
Global equity markets had a volatile start to 2020, as fears of the coronavirus outbreak caused an uptick in market volatility. January got off to a good start with indices in the US, Australia and New Zealand making new all-time highs, but concerns around the virus saw most benchmarks give back some gains.
