Gerald Fitzgerald’s Market Review November 4th

LAST WEEK IN 30 SECONDS...

The US Federal Reserve once again shot markets with some adrenaline cutting interest rates by 0.25% as widely anticipated whilst signalling that may be the extent of the interest rate cuts for now. The political sandstorms continue to swirl uncertainty with the US Congress moving forward on impeaching Donald Trump, whilst a general election has been called in the UK on the 12th December.

Markets brushed off the political disturbance with economic data releases holding firm with US jobs data also surprising on the upside. Over the week, quarterly earnings results were generally ahead of expectations led by US equities in particular within technology and healthcare sectors. Global equities finished the week 0.6% higher in euro terms.

THIS WEEK IN 30 SECONDS...

From an economic data perspective the week ahead sees US trade releases on Tuesday, Eurozone retail sales data release on Wednesday and German industrial output on Thursday.

From a corporate earnings perspective the week ahead sees a surge in earnings disclosures with amongst others Coca Cola, Toyota and Allianz due to announce Q3 2019 earnings.

CHANGING OF THE GUARD AT THE ECB

New team at the helm but same story for the European Central Bank, generate growth and reenergize the Eurozone. With an Irish influence and female lead, time will tell whether the new “A-Team” can succeed where previous Boards have struggled.