Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

Skip main menu Accessibility www.hl.co.uk | Cookie policy | Contact us

Hargreaves Lansdown

Sector review

Sector review from ShareCast

Sector movers: Cyclicals to the fore as Fed chief adopts forceful tone

23 Aug, 2024 14:18

A A A

(Sharecast News) - Cyclicals paced gains at the end of the week after Federal Reserve chief, Jerome Powell, confirmed that investors could expect a first interest rate cut for this cycle when rate-setters in the US next met.

In forceful language, Powell said that the monetary authority was neither seeking nor would welcome a further cooling in the jobs market.

For traders, those words appeared to indicated that a 50 basis point cut wasn't off the table should the next monthly jobs report come in weak.

Stocks rose on the back of those headlines as did cable.

Weakness in the US dollar index, which was at its weakest since the end of 2023 and just above key technical support, albeit oversold, pushed commodity prices higher.

By 1810 BST the Bloomberg commodity index was up by 1.32% to 229.30 amid gains in oil, copper and precious metals' prices.

Top performing sectors so far today

Industrial Transportation 3,967.96 +2.12%

Personal Goods 11,855.96 +1.50%

Chemicals 8,288.22 +1.42%

Automobiles & Parts 1,070.77 +1.29%

Precious Metals and Mining 10,430.77 +1.23%

Bottom performing sectors so far today

Medical Equipment and Services 12,093.97 -0.59%

Aerospace and Defence 11,373.37 -0.51%

Software & Computer Services 2,459.63 -0.45%

Non-life Insurance 3,900.35 -0.35%

Media 12,328.35 -0.21%





Important information

Spread Betting and CFD trading carry a high level of risk to your capital; you should ensure you understand the risks involved. Please read the full risk warning.

Have a question?

Call us on 0117 988 9915
8.00am to 6.00pm (Monday to Friday)

HL Markets account holders
Call us on 020 7573 0055
Email us


ShareCast

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

Market latest

FTSE 100 | FTSE 250 | All Share

FTSE 100 interday chart FTSE 250 interday chart FTSE All Share interday chart
FTSE 100 8,806.53 price-negative -0.19%
FTSE 250 21,538.48 price-negative -0.09%
FTSE All Share 4,791.71 price-negative -0.17%
Dow Jones 44,330.58 price-negative -1.11%
NASDAQ 20,407.58 price-negative -0.94%
Xetra DAX 24,073.67 price-positive +1.20%
Paris CAC 40 7,723.47 price-positive +0.35%
Nikkei 225 39,576.08 price-negative -0.59%
Hang Seng 23,887.83 price-negative -0.12%

Hang Seng disclaimer l Prices delayed by at least 15 minutes