Weekly Market Comment – May 7th 2019
While equity markets generally moved sideways last week, the mood of investors became somewhat more nervous as the week progressed. On the positive side, corporate earnings reporting season remained largely supportive. However, those investors hopeful for a US interest rate cut were disappointed by the Federal Reserve meeting during the week which indicated that was less likely. This was followed by tweets from President Trump highlighting that the US / China trade dispute remains live and still has to be resolved. Given the pace of the recovery in equity markets from the late 2018 sell off, investors are becoming more vigilant to potential issues which could prompt another bout of volatility.
– Niall Dineen
Chief Investment Officer