Gerald Fitzgerald’s Market Review May 27th

LAST WEEK IN 30 SECONDS...

Last week saw further agitation in global markets as the much publicised stalemate in US and Chinese trade discussions continued to stifle investors’ risk appetite. The tech heavy NASDAQ led the market sell-off and was down -2.28% for the period.

The Euro clawed back some of its 2019 losses over the pound sterling last week as the political merry-go-round showed no signs of being able to progress the UK’s withdrawal from the EU. Theresa May brought some relief to sterling’s slide on Friday by announcing her resignation, but this relief may only be temporary as a successor to her premiership is identified.

THIS WEEK IN 30 SECONDS...

The results from the European elections will be digested by markets this week. Whilst the headline grabbing Brexit Party have managed to win big in the UK, the wider picture signals an increasing environmental focus amongst the electorate. The first fall out from these elections has seen a general election being called in Greece, which has been received positively within markets.

Markets are closed in the US and UK today. From an economic data perspective, US GDP growth rate data is due for release on Thursday with US inflation metrics released on Friday.

WHEN THE END IS ONLY THE BEGINNING

I think that by now everyone who will have wanted to know the outcome of the final episode of the Game of Thrones (GoT) series will have watched it by now, but just to be safe I won’t give any spoilers. After 73 episodes the show pulled in a record audience and came to a peaceful end, much to the dismay of viewers and a petition to get the whole last season rewritten has already received over 1 million signatures. With a prequel announced and with reports filming has already began in Belfast eager fans may not have to wait too long for their next fix.