US Markets are on fire!

1 year ago•By Jody Fewster

The latest Goldman Sachs research suggests there is “a low recession risk for the US, as inflation cools and employment remains buoyant”. It’s good for Australia, for as where the US goes, we tend to historically follow.
The S&P 500 ended its best November on record.
Lower than expected inflation data for October at 4.9% (versus 5.9% in September) gave the RBA confidence to keep the cash rate on hold at 4.35%. Whilst moving in the right direction, inflation is still outside the target band of 2%-3% so economists are now split over a potential rate hike in February.
The S&P ASX/200 is up today now trading at 7,178 as I type. Year to date the index is flat at 0.325% change unlike the NASDAQ up a whopping 40% year to date.
Gold hit an all time high Monday at $US 2135.02 on talk of US rate cuts. Lithium prices have been hammered on low demand from China and the resultant glut in supply. Iron Ore is at $US 129.50.
Today’s GDP figures are softer than expected – growth is well below trend on a 6 month annualised basis. Without our higher than expected population growth due to stronger than expected inward migration, some are suggesting our economy would have gone backwards.
The local property market continues to tighten with only 4,775 properties for sale in Perth – that’s including houses, units and land.
Call me today for a totally personalised marketing plan to take advantage of the current short supply situation!

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