Please find below our Investment Market Update as at 3rd February 2023.
Investment markets are loving the news!
On Wednesday, the Federal Reserve (Fed) increased interest rates by only 0.25% which was well received by investment markets. The Nasdaq (technology) responded with a rise of 3.3%. Over the last 5 days the S&P has risen by 3.05%, the Eurostoxx by 1.22% and the FTSE 250 by 2.54%, extending the positive momentum seen throughout January.
It’s great to see portfolios climbing and the feel-good factor has been reinforced by the International Monetary Fund’s (IMF) comments. The IMF expects the global economy to grow by 2.9% in 2023, a 0.2% increase on the last forecast in October. In 2024, it now anticipates a further increase to 3.1%.
Continues….
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Risk warning
Please Note: This communication should not be read as giving specific advice regarding your personal circumstances. This would only be given following detailed assessment of your individual needs. The value of investments may fall as well as rise; you may get back less than invested. Past performance is not necessarily a guide to future returns.