The week 01.08.-05.08.2022

Following the previous week’s rally, stocks began to cool off, and the major U.S. indices ended the week with a mixed bag of results. The S&P 500 and the Dow barely changed, but the NASDAQ gained more than 2%.Even if U.S. economic growth has recently slowed down, the labour market continues to perform better than anticipated. The government said on Friday that the economy added 528,000 jobs in July, considerably above the estimates of the majority of economists, and that the unemployment rate decreased to 3.5% from 3.6%.
The Bank of England increased interest rates by a half percentage point in response to rising inflation, marking the highest rate hike since the bank’s separation from the British government in 1997. The UK’s longest recession since the global financial crisis was anticipated by policymakers.
The S&P 500 ended the week in positive territory, with 0.80%. One-Signal Xpert and Xpress outperformed their reference index with respectively 1.41% and 2.61%.