Provides a market round up, a selection of useful data points we use for our investment analysis, and some interesting articles/charts we have noticed recently.
The major indexes surrendered a portion of the previous week’s strong gains, as worries grew that the Federal Reserve’s fight against inflation would push the economy into recession. The S&P 500 Index closed out its worst first half of the year since 1970, as was widely reported, although the decline was amplified by the index reaching its all-time high on January 3. Typically defensive segments within the index, such as utilities and consumer staples, held up best, while consumer discretionary and information technology shares were particularly weak. US markets are slated to be closed on Monday, July 4, in observance of the Independence Day holiday.
The Aussie market finished its first session of the new financial year in the red, with the ASX 200 sliding by 28.2 pts or 0.43 per cent, to 6539.9. Over the week, the ASX 200 finished 0.6 per cent lower. Gains recorded in the Financials, Energy and Utilities sectors were offset by declines in the Materials sector – which posted its fourth straight weekly loss (down 1.7 per cent). Property stocks fell most over the week, shedding 3.0 per cent. Five of 11 sectors finished the week higher.
In economic news, the CoreLogic Home Value Index of national home prices fell by 0.6 per cent in June, the biggest decline in almost two years.
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