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Market Moves: Week Ending 6 September 2024

Short equity funds (BBUS, BBOZ, SNAS) were the top performers after weak labour reports brought back fears the US may be headed for recession. Non-farm employment change, one of the strongest signals for job market health, came in lower than expected – up 142k against 164k expected.¹ Investors were also perturbed by a downward revision in July employment growth.
Risk-on technology ETFs (CRYP, SEMI) were the poorest performing non-leveraged funds of the week. Investors are slowly waking up to recession risk, leading to a re-valuation of economically sensitive companies.
There were $764.6 million in reported inflows for the week and $309.0 million in outflows, marking a week of net inflow 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 10/09/2024. 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:
Sep 10, 2024

Category:
Reports

Topics:
ETF Express, Market Moves

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