State of Play. 15 February 2024

US dominates

Recently released US January employment data showed that the resilience of the US economy continues after growing 2.5% in 2023.1 The Federal Reserve (Fed) insists that it is premature to expect ‘imminent’ rate cuts and as a consequence, the market has adjusted expectations. The current focus for markets continues to be on the 2023 4th quarter earnings season, with US numbers more positive than Europe.  

SAM UK – State of Play -  15 February 2024