The U.K. Stock market
- The U.K. Stock market was lower this week.
- Fears over the spread of coronavirus in South Korea and elsewhere picked up mid-week and gains made earlier in the week were given up.
- UK jobs data for December was in line with expectations, with the employment rate reaching a new high.
- Our Breadth indicator stayed neutral this week but our Momentum indicator ticked lower.
The U.S. Stock market
- The U.S. stock market was lower this week as concerns grew about the impact of the COVID-19 outbreak even with additional stimulus measures by the Chinese government.
- Apple announced it would miss sales forecasts and said it was unsure of supply and demand shortfalls due to the new coronavirus.
- Friday’s PMI report (purchasing managers’ index) indicated a decline in U.S. private sector activity.
- Our Breadth indicator stayed neutral and our Momentum indicator ticked lower.
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This communication is not intended as a recommendation to invest in any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication. The information provided is for illustrative purposes only, it should not be relied upon as recommendations to buy or sell investments.’