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Global equities fell -1.3% in EUR terms amid the developing conflict in the Middle East. The market priced in higher inflation expectations as the price of oil surged 37.9% in EUR terms, its largest weekly gain in futures trading since 1983.
A quiet week in terms of economic releases was dominated by corporate and geopolitical news. Read about what has been happening across the global markets and the impact on investments.
Markets were swayed by a number of key economic reports in the US last week. According to a US non-farm payrolls release on Wednesday, 130,000 new jobs were added in January, outpacing projections for a 70,000 rise, while the unemployment rate fell from 4.4% to 4.3%.
After sustained periods of technology stocks leading equity markets, last week saw a rotation toward traditional sectors like consumer staples, energy, industrials, and materials.
The Federal Reserve’s independence has been a key concern for the market over the course of the last year, which is why US President Trump’s nominee for the next Fed chair caught much of the market off guard.
A collection of the world’s most prominent leaders convened at the 2026 World Economic Forum in Davos last week. As is somewhat common these days, the assembly resulted in a few dramatic developments.
Global equity markets finished the first full week of 2026 on the front foot, posting strong gains. Performance was driven by aerospace and defence stocks amid expectations for greater US defence spending.
As 2025 ends, it’s clear that patience and discipline paid off. Despite unsettling headlines and economic concerns, markets showed unexpected resilience.
News at the beginning of the week was dominated by more US economic data, while the latter half delivered interest rate decisions from three of the world’s largest economies.
AI jitters persisted last week with Broadcom and Oracle leading the sell-off. Both companies released quarterly earnings which disappointed under the market’s microscope.