Fisher Investments Reviews: Last Week in Markets—March 10 - March 14

Global equities fell amid continued volatility. While we recognize it can be uncomfortable, short-term volatility is a normal occurrence over the course of a bull market and goes hand in hand with reaping stocks' long-term rewards. In our view, the best course of action is to stay the course and remain disciplined to your long-term investment strategy. For more, please see, “Staying Coolheaded Amid Stocks’ Swings”.

In the US, data were light. February headline consumer inflation increased 0.2% m/m and 2.8% y/y, both below estimates. February core consumer inflation (excluding food and energy) increased 0.2% m/m and 3.1% y/y, both below estimates.

In the UK, January GDP contracted 0.1% m/m and expanded 1.0% y/y. January industrial production decreased 0.9% m/m and 1.5% y/y, both lower than forecasts. January manufacturing production declined 1.1% m/m and 1.5% y/y, both below estimates. In the eurozone, January industrial production increased 0.8% m/m, surpassing market expectations, and was flat y/y.

In Japan, the second estimate of Q4 2024 GDP growth was 0.6% q/q and 1.1% y/y. February bank loans increased 3.1% y/y. In China, February money supply (M2) increased 7.0% y/y, in line with forecasts. February loan growth increased 7.3% y/y, below expectations.

The Week Ahead:

The US reports February industrial and manufacturing production, while Japan reports January industrial production. The US and China release February retail sales, while Japan releases January retail sales. The eurozone and Japan release February consumer inflation. Japan reports February trade data. The Bank of England meets to set monetary policy.

Source for all data cited is FactSet. This update constitutes the general views of Fisher Investments and should not be regarded as personalized investment advice. No assurances are made we will continue to hold these views, which may change at any time based on new information, analysis or reconsideration. In addition, no assurances are made regarding the accuracy of any forecast made herein. Global equities are represented by the MSCI World Index. The MSCI World Index measures the performance of selected stocks in 23 developed countries and is presented net of dividend withholding taxes and uses the maximum rate applicable to non-resident institutional investors who do not benefit from double taxation treaties. Past performance is no guarantee of future results. A risk of loss is involved with investments in stock markets.