In this week’s market review we discuss in the US, new inflation data and a Federal Reserve rate decision were released. The annual US inflation rate decreased to 3.3% in May, while the interest rate remained unchanged. The S&P 500 ended the week 1.62% higher, and the NASDAQ saw a 3.11% increase. In Europe and the UK, the European Union raised tariffs on Chinese Electric Vehicles (EVs). The UK’s GDP growth for April was stagnant, following increases in the first quarter of 2024. European and UK stock indices ended the week down, ranging from -0.13% to -2.72%. In Ireland, Wind Energy Ireland reported that wind energy contributed to 35% of the nation’s total power generation in the first five months of 2024. Additionally, there’s news of a proposed 28-acre solar farm at Dublin Airport. In the Asia-Pacific region, China’s annual inflation rate remained at 0.3% in May, consistent with April’s figures, amidst a surge in exports.
