Latest Irish Life weekly markets update

Key talking points include:

• Global markets finished lower despite a strong earnings report from AI bellwether Nvidia and a solid US jobs report. Renewed concerns about inflated AI stock valuations and receding expectations for a Fed interest rate cut weighed on sentiment.
• The S&P 500 fell by 1.9% (MTD -3.5%, YTD 12.3%) while the Euro Stoxx 600 fell by 2.2% (MTD -1.7%, YTD 10.7%).

• Data releases are light this week with US markets closed for Thanksgiving on Thursday but investors will watch for the release of the Fed's Beige Book and parse it for further hints on monetary policy direction. The UK budget is unveiled on Wednesday and is expected to be geared heavily towards spending cuts.