Most markets were flat to slightly positive last week and fairly stable apart from the Nasdaq which traded in a 3% Range.

Last week the InvestSense team spent much of the week preparing for and attending the Portfolio Construction Forum Strategies Conference.

Last week Andrew visited the InvestSense offices and shared his observations and findings from his visit to the United States, specifically New York.

The week of August 28th to September 1st, 2023, saw a delicate balance between economic indicators and market sentiment play out in markets. The United States enjoyed what appears to be Goldilocks labor conditions, with strong job growth and a tightening labor market.

Global economic sentiment shifted in the week as US data strengthened, and Eurozone data weakened. Weaker global economic data raised concerns about central bank hawkishness, leading to a stronger US dollar and weaker currencies. Crude oil prices remained resilient amid supply concerns, while tech stocks led US markets lower as Apple took a hit.

Despite higher-than-expected US CPI data, bond and equity markets remained calm initially. The jump in inflation was attributed to a temporary rise in energy prices and air travel. However, volatility set in due to the IPO of British chip maker ARM, pushing markets up by around 2%. Fears of a further rate hike set in causing US markets to close flat. Conversely, European, Australian, and UK markets ended the week positively, driven by the performance companies reliant on Chinese exports.