Last week was a muddling one for stocks as the news flow and economic data gave conflicting signals. Another cooler inflation report, the US Producer Price Index, initially provided tailwinds for stocks but the rally faded as concerns over the health of the global economy was heightened by some of the biggest technology companies announcing plans to making sweeping job cuts. The blue-chip S&P 500 and technology focussed Nasdaq fell 0.2% and 1.5% respectively over the week.
Inflation has unnerved investors throughout this year but a second cooler than expected inflation report out of the US in the space of just a few days offered more hope that price pressures are easing. On Tuesday it was reported the US producers price index rose just 0.2% between September and October, lower than the 0.4% consensus analyst forecasts, and the annual rate slowed to 8.0%.
TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM’s core skill of providing investment management services.