By Business & Finance 
It was a positive week for investment markets with economics, earnings, and European trade leading equities higher, writes Ian Slattery.
Ian Slattery
Markets were higher last week as trade tensions between the US and Europe de-escalated following a meeting between President Trump and EC President Juncker. There were also some positive headlines from the ongoing NAFTA negotiations which were welcomed by the market.
There was an upside surprise for US GDP growth with the Q2 figure coming in at 4.1% (YoY) with growth also revised upwards for the previous year. President Trump cheered the news in a series of tweets, taking the figures as a sign of the success of the administration’s policies.
Earnings data continues to pour in last week, with the Tech sector grabbing the headlines. Both Facebook and Twitter fell heavily in after-hours trading subsequent to posting results, as figures disappointed on sales and user growth. However, earnings continue to be broadly positive, with a slew of further results being released this week.
The global index moved higher last week, finishing up 1.4% after being led by strong showings in both Europe and Asia.
Oil was lower and closed just short of $69/barrel, whilst gold was down slightly, closing at $1,223 per troy ounce.
The 10 year US bond yield finished the week at 2.95%, as the US economy looks to remain on a strong footing. The German equivalent closed at 0.40%.
THE WEEK AHEAD
Tuesday 31st July
In the eurozone, the consensus expects preliminary Q2 GDP growth to come in at 0.4% (YoY), whilst the flash headline inflation figure is expected to print at 2.1% (YoY).
Wednesday 1st August
The FOMC convenes for its latest interest rate meeting where the market does not expect any change to current policy, with two further rate rises forecast by the market this year.
Friday 3rd August
The July non-farm payrolls report goes to print where the consensus expects continuing strong employment numbers of 190,000 (last: 213,000).
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