- The UK stock-market was higher last week. Non-essential retail stores, gyms and pub gardens opened on Monday in the next phase of lockdown easing in England.
- On Tuesday, data from the ONS (Office for National Statistics) showed that UK GDP grew by 0.4% in February. Lower than expected (0.6% growth) but it followed a decline of 2.2% in January. Exports to the European Union rose by 47% in February, an indication that trade between the UK and EU is recovering.
- Stocks rallied further at the end of the week after the release of China GDP data which showed expansion of the economy by 18.3%, year on year. Markets were encouraged even though the numbers were below expectations.
- Our Breadth indicator stayed positive and our Momentum Indicator, ticked higher again.
- The US stock-market was higher last week.
- Economic advisers and national security advisers met on Monday to discuss President Biden’s $2.25 trillion infrastructure plan and the global semiconductor shortage. The President said he has support for his plan that will provide $50 billion for the semiconductor industry.
- US retail sales data provided a positive surprise at the end of the week jumping 9.8% in March as new stimulus lifted consumer spending.
- March CPI data increased more than expected, increasing concerns over inflation. Despite the strong economic data, Treasury Yields slumped on Thursday, confusing many market analysts who have been watching the recent uptrend will some concern. All eyes now on earnings season with major companies reporting this week.
- Our Breadth indicator stayed positive and our Momentum Indicator ticked higher.
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