Markets in a Minute is a monthly update produced by RBC Brewin Dolphin, providing a concise overview of key market developments and the themes shaping the current investment environment.
Guinness Global Investors uses RBC Brewin Dolphin as an investment adviser for the Multi Asset Fund range
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Guy Foster, chief strategist, discusses the AI stock rebound following a sharp decline in July, and the latest U.S. labour data.
Key Highlights
Gulf de-escalation:
Oil fell from a high of $100 per barrel to below $80 per barrel amid reports of a possible agreement to reopen the Strait of Hormuz.
AI equity volatility:
July saw a rotation out of AI infrastructure stocks, driven by efficiency gains in open-weight models and a forced hedge fund unwind.
U.S. labour market:
Jobs data pointed to broad stability, but the July payrolls report showed a surprise decline of 23,000 jobs, keeping interest rate decisions finely balanced.
