Market Summary Week Ending 11/06/2023

In a quiet week for financial markets, optimism in the United States saw further rallies across all of the major indices, after weeks of recent turmoil through negotiations in regard to the debt ceiling and uncertainty regarding future inflation rates and the Federal Reserve’s upcoming decision on interest rates tomorrow (13 June).

For the week, the Dow Jones and S&P 500 were up 0.34% and 0.39% respectively. The Nasdaq was up about 0.14% posting its seventh straight positive week, its first streak of that length since November 2019.

In the UK, both the FTSE 100 and FTSE 250 finished the week down 0.40% and 0.05% respectively as investor sentiment was varied to that of the US looking forward to the announcements scheduled for next week.

Looking forward to the week ahead, in the US, CPI figures for May will be released, followed by the interest rate decision from the Federal Reserve, with analysts’ expectations of a ‘pause’ in the increase of interest rates for now, following increases at the previous ten Federal Reserve meetings.

 

Please note for this weekly summary, we focus on the major indices within the financial markets such as the FTSE 100 (UK) and the Dow Jones and NASDAQ (US) to provide a factual account of what has happened within a certain index. Performance figures quoted are factual from the previous week’s trading and this summary is for commentary purposes only. 

The performance of these indices is not a representation of an individual fund or portfolio. Past performance is no guarantee of future returns. The value of your investment can go down as well as up. You could get back less than you originally invested.