Always remember that investments can go down as well as up in value, so you could get back less than you put in. A rule of thumb is to hang on to your investments for at least five years to give them the best chance of providing the returns you are hoping for.
Ooh, the new week is off to a good start, with all the major indices closing green yesterday, recovering some of Friday’s losses. Whilst these changes are too small to change the bearish market outlook; we must celebrate all wins, no matter how small.
Last Wednesday, we explained how the US inflation data caused massive sell-offs in the stock market, resulting in lots of negative price movements. Well, the stock market has another test tomorrow when the Federal Reserve announces its decision on interest rates. People expect the Fed to increase interest rates by 0.75%. As usual, we’ll let you know how it goes and how it affects stock prices.
We’ve omitted the FTSE 100 from our watchlist today because the LSE was closed yesterday for the Queen’s funeral. Here are the closing prices:
3 of the 11 S&P 500 sectors closed red yesterday: Healthcare (-0.93%), Energy (-1.02%) and Real Estate (-1.09%). Consumer Discretionary led the winners at +1.20%.
Bitcoin and Ethereum are up about 4% to $19,300 and $1,350, respectively, in the last 24 hours.
The UK’s FTSE 100 is up 0.13% this morning! The European Stoxx 600 index and Germany’s Dax are both down about 0.2%.
Liz Truss has said that a UK-US trade deal, which was supposed to be one of the biggest prizes of Brexit, is not on the horizon. The FT has more.
The Swedish central bank has raised interest rates by a full percentage point to 1.75% today. It also warned that more was to come as it sought to get to grips with surging inflation. Inflation hit 9% (a 30-year high) in August. Reuters has more.
In crypto news, the UK’s Financial Conduct Authority (FCA) has issued a warning to consumers not to conduct any business with Sam Bankman-Fried’s crypto exchange, FTX. CryptoNews has more.
In rather strange news, Beyond Meat’s COO Doug Ramsey was arrested at the weekend for allegedly biting a man’s nose after an Arkansas college football game. More on CNBC.
Every month, we'll send you The Plug - a curation of the best personal finance content in the UK. We share real-life stories, how-to guides, top personal finance news, popular community questions, and tips to help you stay on top of your money.