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Expecting volatility to remain as earnings reporting slows

 



Expecting volatility to remain as earnings reporting slows
Latest earnings reports showed that Meta Platforms, Alphabet, Amazon, and Microsoft all reported strong earnings growth. This is a sign that software companies are able to weather economic storms and continue to generate profits.

On US credit rating downgrade, investors remain split. Some believe that the downgrade is a sign of underlying problems in the US economy, while others believe that it is largely symbolic. 

The S&P 500 is facing supply pressure and volatility. Our key support levels for the index are 4,400 and 4,300. We remain alert for bullish trading opportunities, as we take a cautious view on the market overall.

The Chinese market recovery is modest. We continue careful positioning into the Chinese market. The next sector expected to see recovery is the smaller cap growth sector. We believe that ChiNext ETFs such as CXS:SGX could move higher as the economy improves.

Headlines for Week Ahead:
US China Corp earnings (Alibaba, Sands China, PLTR, UPS, DIS, NetEase)
SG Corp earnings (Property Sector, Genting SP, Wilmar, AEM)
US CPI, PPI Reports
China Export and Import Data
China CPI
SG 2Q23 GDP (final)
SG National Day Holiday



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