Performance

The portfolio finished pretty much even last week, closing out with a +0.41% return vs the global market return of -0.46%, the S&P 500 return of +0.82, and the Nasdaq return of +0.45% - broadly in line with the benchmarks I care about, which is positive!

A relatively non-eventful week following the previous 2 weeks of solid returns! It was bound to cool off at some point, as it always does...

The US Market

The positive sentiment was driven by growing optimism that the Federal Reserve may be nearing the end of its interest rate hiking cycle. This was supported by a number of factors, including weaker-than-expected inflation data and a softening in the labor market.

Investors also looked ahead to the release of key economic data this week, including the personal consumption expenditures (PCE) index. The PCE is the Fed's preferred measure of inflation, and it is expected to show further moderation in October.

In other news, the US dollar weakened last week, while gold prices rose to their highest level in six months. The dollar's decline was attributed to expectations that the Fed may be nearing the end of its rate hikes, while gold's rally was fueled by safe-haven buying.

The UK Market

The UK stock market closed out the week on a mixed note, with the FTSE 100 index closing down 0.21%. The FTSE 250 index, which tracks the performance of smaller companies, closed up 0.2%.

The main driver of the FTSE 100's decline was weakness in the mining sector, as metals prices fell on concerns about global economic growth. The sector was also weighed down by news that Anglo American was considering selling some of its copper assets.

Other sectors that underperformed included banks, as investors worried about the impact of rising interest rates on their profits. The insurance sector also fell, as investors feared that higher inflation would lead to more claims.

The few bright spots on the FTSE 100 were healthcare, consumer staples and utilities. Healthcare stocks were boosted by positive earnings reports from several companies, while consumer staples and utilities stocks benefited from their defensive characteristics.

The FTSE 250, on the other hand, was helped by strength in the retail sector, as investors welcomed news that retail sales had grown in October. The sector was also helped by a rally in the shares of JD Sports, which rose after the company announced a strong trading update.

Summary Of Changes

There was no activity in the portfolio last week

Plans for this week

More capital will be hitting my accounts this week. Overall, I'm extremely happy with how everything is looking and my current allocation, so I'll be looking to maintain this with any buying decisions I make from tomorrow onwards

I'll be focussing in on my 15 priority 1 positions, including my S&P, Nasdaq and Hedonova fund. I also plan on increasing my crypto position, namely ion Bitcoin and Etherium.

We have several earnings reports scheduled for next week, and the PCE inflation numbers to be released on Thursday could be relevant for the market. Powell is also scheduled to speak on Friday which could send the market in either direction!

When I know more, I'll share it here!

Until then, have a great week!

Your friend

Joe

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