STOCK MARKET BLOG JUNE 2024

by the CEO Silvano Grimaldi of the independent asset management company GRIMALDI & PARTNERS AG

MONTHLY REVIEW

International stock markets ended the month of JUNE mixed.

DRIVING FACTORS

Fresh economic data shows a surprisingly good mood in the US economy.
A surprising slowdown in the inflation rate in the USA in May.
Decline in bond yields.

STRESSFACTORS

US economy loses significant momentum at the beginning of 2024 (1.3% compared to 3.4% in Q4 2023).
Increasing doubts about an imminent easing of monetary policy by the US Federal Reserve.
Investors are concerned about the future monetary policy of major central banks.
Ongoing concerns about interest rates likely to remain high for a longer period.

EQUITIES IN FOCUS

APPLE overtakes Microsoft as the most valuable company in the world

The technology group Apple has once again reached a record high thanks to further significant share price gains - and has initially replaced the software giant Microsoft as the world's most valuable listed company. Chip manufacturer Nvidia remains in third place - thanks to its leading role in the booming topic of artificial intelligence (AI).

MONTHLY OUTLOOK

The first 15 days of July are historically associated with rising prices.
After the profit-taking in the tech sector at the end of June, a countermovement is expected to take off.
The start of the corporate reporting season for the second quarter of 2024 will influence the further course of the summer weeks.
The outcome of the early parliamentary elections in France at the end of June and beginning of July could cause short-term volatility on the stock markets.
However, as we all know, trees don't grow to the sky. A pause in stock prices will therefore come as no surprise.

We expect an upward trend on the stock markets for the month of July.

STOCK RECOMMENDATION: APPLE