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Market Moves: Week Ending 16 August 2024

Geared US equity funds (GGUS, LNAS) were the top performers of the week after the US stock market rallied on strong economic data indicating an increasing likelihood of the Fed’s ideal ‘soft-landing’ scenario. US CPI came in below estimates at 2.9% YoY.¹ Unemployment data and retail sales were also better than expected.
Bitcoin (BTXX, EBTC, IBTC, VBTC) was the poorest performing asset outside of inverse and leveraged funds. Traders sold down risk assets in anticipation of the Jackson Hole Symposium this week, which will help guide investor expectations for the Fed’s preferred interest rate path.²
There were $701.5 in reported inflows for the week and $81.7 million in outflows, marking a week of net inflows for the Australian ETF industry.

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Looking for more ETF Express content? Check out this week’s Thematic Spotlight and Commodity Calls.

^{Forecasts are not guaranteed and undue reliance should not be placed on them. This information is based on views held by Global X as at 20/08/2024. Investing involves risk, including the possible loss of principal. Diversification does not ensure a profit nor guarantee against a loss.}

^{Brokerage commissions will reduce returns.}

^{This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. This information is not intended to be individual or personalised investment or tax advice and should not be used for trading purposes. Please consult a financial advisor or tax professional for more information regarding your investment and/or tax situation.}

Authored by: Justin Lin

Date:
Aug 20, 2024

Category:
Reports

Topics:
ETF Express, Market Moves

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