Insights

Key Weekly Data Points – week commencing 15/06/2020

  • Written By: Daniel Casali
  • Published: Fri, 19 Jun 2020 13:00 GMT

Daniel Casali provides a round-up of key market activity during the week of 15th June.

Reporting 157219337

Monday 15th

  • Queues formed as ‘non-essential’ shops reopened in the UK
  • A rise in coronavirus cases in the US and China led to stock market declines. This included a daily decline for the S&P 500 of -2% and Nasdaq -1.5%.

Tuesday 16th

  • US retail sales rebounded nearly 18% in May
  • It was reported that 20 Indian soldiers were killed in a clash with Chinese troops in the Himalayas

Wednesday 17th

  • Hints of a second wave of COVID-19 continued to emerge. In the state Florida, news cases rose by 3.6% over the past 7 days, whilst hospitalizations in Texas increased by 8.3%
  • The number of people unemployed in the UK and claiming benefits rose to 2.8m in May, this is a 126% increase since lockdown began

Thursday 18th

  • Sainsburys and other supermarkets should receive a substantial cash ‘injection’ after winning a legal battle against payment companies regarding swipe fees.
  • In the US, new jobless claims in the latest week were 1.51m, suggesting an improvement.
  • The Bank of England has increased its bond-buying programme by £100bn

Friday 19th

  • UK debt reached 100% of GDP for the first time since WW2 as the government as the government hit record monthly borrowing of £55.2bn.

Source: Bloomberg.com

Risk warning
Investment does involve risk. The value of investments and the income from them can go down as well as up. The investor may not receive back, in total, the original amount invested. Past performance is not a guide to future performance. Rates of tax are those prevailing at the time and are subject to change without notice. Clients should always seek appropriate advice from their financial adviser before committing funds for investment. When investments are made in overseas securities, movements in exchange rates may have an effect on the value of that investment. The effect may be favourable or unfavourable.

DISCLAIMER
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of publication.

Smith & Williamson Investment Management LLP is part of the Smith & Williamson group.
Smith & Williamson Investment Management LLP is authorised and regulated by the Financial Conduct Authority.

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