September 27, 2024

The Pulse Economic and market news for September 27, 2024

U.S. Markets: The Dow Jones and S&P 500 saw slight gains, with the S&P 500 increasing by 0.4%. This positive movement is driven by better-than-expected U.S. economic data, including steady consumer spending and lower-than-expected jobless claims, which have eased concerns about an impending recession. Investor sentiment was also boosted by strong performance in the technology sector, particularly companies like Micron Technology (https://www.reuters.com/technology/micron-fuels-chip-stock-rally-ai-demand-powers-revenue-forecast-2024-09-26/)

Consumer Spending: Consumer spending continues to be a significant driver of U.S. economic growth. Despite inflationary pressures, American consumers have maintained robust spending habits, contributing to steady market performance. This resilience has supported the broader economy and helped offset some of the impacts of inflation (https://www.reuters.com/markets/us/us-consumer-spending-rises-moderately-august-inflation-slows-2024-09-27/)

China's Markets: The Chinese economy continues to struggle, primarily due to weak consumer demand and ongoing challenges in the property sector. While the Chinese government has introduced stimulus measures to prop up growth, the results have been mixed. Global markets are closely watching China, as its economic slowdown could have broader implications (https://www.reuters.com/markets/global-markets-wrapup-1-2024-09-27/)

European Markets: European markets remain volatile, with investor concerns centered around inflation and rising interest rates. The European Central Bank has been cautious in its approach, balancing inflation management with the need to support growth across the eurozone. The region's real estate sector, in particular, has faced challenges, with the highest number of pulled real estate deals since the financial crisis (https://www.reuters.com/markets/europe/french-markets-remain-hostage-political-rollercoaster-2024-09-27/)

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