S&P 500 Sees Good Start To The Week, UK Economy Not Performing As Well As Its Major Economy Counter Parts

Summary:

• S&P 500 makes up for May losses.
• The Pound sterling hasn't had a great run lately especially because the UK economy isn't performing as well as its major economy counter-parts.

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The S&P 500 gained almost 2.5% on Monday

On Monday the S&P 500 gained back its May losses and broke its seven week losing streak, as institutional investors chose to balance their portfolios again to the end of the month. Luxury stocks seemed to be the top performers today in the wake of improved investor sentiment as China begins easing lockdowns.

✕ GSPC Price Chart

Pound Sterling under pressure

As the cost of borrowing increases, a cost-of-living crisis, the reality of lower productivity and inflation at 40 year highs, all of these factors mentioned are putting the Pound sterling under pressure. The reality of a looming recession keeping investors on their toes. A source on bloomberg predicts that the UK economy could shrink by 0.4% this quarter.

The Pound sterling hasn't had a great run lately especially because the UK economy isn't performing as well as its major economy counter-parts.

Sources: investors.com, bloomberg.com, finance.yahoo.com