Previous Trading Days Events 01 Feb 2024

The Bank of England BOE kept the Bank rate steady but announced that borrowing costs would be kept under review.

The central bank Governor Andrew Bailey said inflation was moving in the right direction Things are moving in the right direction. Today, the MPC has held bank rates at 5.25. So, yes, we have had good news, but we have to be more confident that inflation will fall all the way back to the 2 target and stay there. And were not yet to the point where we can lower interest rates.

Bailey further said the central bank was still cautious and inflation falling to its 2 target would not be job done.

Source httpswww.reuters.commarketseuropebankenglandsaysratesunderreviewinflationseenbelow220240201

U.S. stocks rebounded and moved significantly higher yesterday. The Dow climbed 1, the SP 500 added 1.25 and the Nasdaq rose 1.3.

We believe tech has the best growth of any sector in the global markets this year. Sixteen, seventeen percent primarily backed by the beneficiaries of AI. Specifically within tech, we like software and semis semiconductor chips. FLASH I wouldnt make the year after one days volatility after an earnings announcement. What weve seen so far out of tech is beats on revenue and earnings. And if stocks rallied into those numbers, its often normal to see stocks sell off after they report earnings.T

Data this week showed further evidence of a softening labour market, which is expected to be confirmed by…