Global recession fears largely put to rest as sharemarkets round out surprisingly good first quarter

  • 04/04/2024

Global sharemarkets have rounded out a surprisingly good first quarter and it appears early fears of a global recession are being largely put to rest. 

It comes as the US central bank, the Federal Reserve, considers when to initiate interest rate reductions - particularly considering the persistent robustness of the United States' economy and inflation data being higher than expected. 

Global sharemarkets gained 8.4 percent in the first quarter of the year, while US markets added 10.2 percent - the best first quarter for the United States in the past five years. 

Among the best-performing stocks was chipmaker Nvidia, which was 95 percent higher. 

The S&P 500 - a key impulse for the US' financial markets - gathered steam in the first quarter, submitting its best Q1 since 2019

"More than half of the S&P 500 stocks reached new 52-week highs," explained Stephanie Batchelor, a senior analyst at Milford Asset Management. 

"Bitcoin, oil, gold - pretty much everywhere you look over the last three months was positive. 

"It seems increasingly likely we're going to be able to achieve that soft landing." 

Watch the full video for more.