Emerging-markets stocks surged in September, delivering the lead performance for the major asset classes, based on a set of ETFs. Real estate shares were also strong performers last month, extending recent strength for these stocks. Commodities, once again, were the downside outlier.
Daily Archives: October 1, 2024
Macro Briefing: 1 October 2024
Israel launches ground war into Lebanon. The incursion is a “limited, localized and targeted ground raids” against Hezbollah targets in southern Lebanon, the Israeli military said in a statement.
Dockworkers at ports from Maine to Gulf coast go on strike. AP reports: “Supply chain experts say consumers won’t see an immediate impact from the strike because most retailers stocked up on goods, moving ahead shipments of holiday gift items. But if it goes more than a few weeks, a work stoppage would significantly snarl the nation’s supply chain, potentially leading to higher prices and delays in goods reaching households and businesses.”
The US stock market rose on Monday, setting a new record closing price, based on the S&P 500 Index: “Everything is about the growth side of the economy, and everything is about the consumer,” says Stuart Kaiser, Citi head of US equity trading strategy. “Any data that suggests consumer spending is holding in and you’re not seeing the weakness that people are worried that the Fed is worried about, I think that’s all going to be positive for equity markets.”
