Consumer confidence in the US eased in June, according to the Conference Board’s index, driven by a weaker outlook for business conditions, the job market, and incomes. While current conditions remain strong, concerns about the future are growing.
Results for: Recession
The UK economy has emerged from recession with a 0.6% growth in the first quarter of 2024, its strongest expansion since 2021. This positive news has boosted Prime Minister Rishi Sunak’s prospects ahead of an upcoming election, while the opposition Labour Party remains critical of the government’s economic policies. Despite the growth, the UK recovery from the pandemic remains slow compared to other major economies, and living standards continue to be squeezed.
Britain’s economy grew by the most in nearly three years in the first quarter of 2024, ending the shallow recession it entered in the second half of last year and delivering a boost to Prime Minister Rishi Sunak ahead of an election.
– Global financial markets rallied in 1Q24, with large-cap tech stocks leading the way.
– Strong economic data and continued momentum trading in AI-related stocks outweighed hawkish FOMC commentary on higher interest rates.
– Interest rates rose, but expectations for a recession receded.
– Large-cap stocks outperformed small-cap stocks, with the NASDAQ continuing to rally despite rising interest rates.
– Large-cap dominance was concentrated in a few companies such as Amazon, Microsoft, Meta, and Nvidia.