Weekly Market Review: 14th of October 2024

In the US, the annual rate of inflation for September slowed to a rate of 2.4%, the lowest since February 2021 and the sixth straight month where the annual rate has slowed. For the week, the S&P 500 and NASDAQ closed higher, up 1.47% each.  In Europe, the German economy is expected to face its second ever two-year technical recession, after a downgrade by the country’s government last week. In the UK, monthly GDP data was released last week, with the economy expanding by 0.2% in August, the first monthly increase in GDP since May. For the week, the Eurostoxx50 and STOXX600 closed 0.93% and 0.39% higher respectively, while the FTSE100 closed -0.59% lower. In Ireland, annual inflation slowed to 0.7% in September, the lowest rate since March 2021 and a whole percent lower than the August figure of 1.7%. In Asia Pacific, China has imposed anti-dumping measures on brandy imports from the EU, just after Brussels increased tariffs on imported Chinese EV’s into the Bloc.