Weekly Market Review: 09th of December 2024

In the US, last week key US jobs data was released. Nonfarm payrolls surged by 227k, above the forecast of 214K resulting in both the S&P500 and Nasdaq setting new record highs on Friday. In Europe, the Eurozone economy expanded 0.4% on quarter in the three months to September 2024, the strongest growth rate in two years. A no-confidence vote against Prime Minister Barnier was passed in parliament with backing from both far-right and left-wing lawmakers, prompting President Macron to appoint a new prime minister. In the UK, Prime Minister Keir Starmer pledged on Thursday to deliver on his priorities to rebuild Britain. Ireland’s GDP saw a growth of 3.5% in Q3 2024, exceeding initial projections of 2% and rebounding from a 0.3% decline in the previous quarter, representing the strongest growth since early 2022. In Asia-Pacific, South Korean assets plummeted during the week after the country’s president declared martial law amid a deepening rift between the ruling party and its main opposition