Insights
into
key
market
performance
and
economic
trends
from
Dan
Kemp,
Morningstar’s
global
chief
research
and
investment
officer.
In
a
week
with
little
economic
news,
financial
markets
had
only
the
thin
soup
of
the
Federal
Reserve
Open
Market
Committee
(FOMC)
meeting
minutes
and
associated
comments
to
nourish
their
predictions
about
the
next
move
in
interest
rates.
With
little
new
in
the
comments,
asset
prices
remained
steady
with
the
Morningstar
US
Market
index
ending
the
week
flat
(-0.12%)
while
the
Morningstar
US
Technology
index
rose
2.72%,
supported
by
strong
results
from
Nvidia
which
also
announced
a
share
split
designed
to
attract
more
investors.
You
can
find
out
what
Morningstar’s
Nvidia
Analysts,
Brian
Colello,
thought
about
the
results
and
the
share
split
here.
Emerging
Markets
Weaker,
Offering
Opportunities
Outside
large
US
technology
companies,
investors
were
less
sanguine,
as
exemplified
by
the
Morningstar
Emerging
Market
index
which
declined
1.7%%
over
the
week,
driven
by
weakness
in
Chinese
stocks
which
fell
4.61%,
partially
reversing
the
progress
we
have
seen
in
this
market
over
the
last
few
months.
Such
volatility
can
induce
myopia
and
make
it
challenging
to
access
the
returns
available
to
patient
investors.
This
is
why
fundamental
analysis
and
a
focus
on
valuation
is
so
important
when
making
investment
decisions.
Taking
this
longer-term
perspective,
Morningstar’s
research
team
continues
to
perceive
opportunities
in
emerging
markets.
A
summary
of
their
latest
research
can
be
accessed
here.
Will
the
UK
Election
Bring
Fireworks?
Politics
was
back
in
the
spotlight
this
week
as
a
rain-soaked
Rishi
Sunak
announced
the
UK
General
Election
will
be
held
on
the
July
4.
As
electioneering
takes
a
central
role
in
the
media
across
the
world
it
is
natural
for
investors
to
focus
on
the
impact
of
these
events
on
their
portfolios
and
some
may
be
tempted
to
position
their
portfolio
to
benefit
from
a
particular
outcome.
However,
research
conducted
by
the
Morningstar
Wealth
business
reminds
us
that
politics
should
be
treated
as
a
range
of
risks
to
be
managed
rather
than
a
source
of
investment
returns.
This
is
important
as
investors
can
view
the
investing
outcome
of
an
election
through
the
lens
of
their
own
political
preferences
and
consequently
react
to
results
in
a
way
that
can
impede
their
progress
towards
their
goals.
More
Inflation
Data
this
Week
Inflation
will
be
back
in
the
limelight
in
this
shortened
trading
week
as
the
latest
Personal
Consumption
Expenditure
(PCE)
index
of
consumer
prices
is
released
on
Friday.
According
to
MarketWatch,
year
on
year
inflation
is
expected
to
remain
unchanged
for
April.
A
significant
deviation
from
this
outcome
may
create
some
volatility
at
the
end
of
the
week.
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