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Market Weekly Outlook

 



Thoughts on Week Ahead:
Week 6 May 2024

In a surprising turn of events, bad news is good news, US markets rallied last Friday on weaker-than-expected jobs report, reigniting hopes of rate cuts. The upcoming week is relatively quiet in terms of economic data releases.

On the technicals, the S&P 500 remains range-bound between 5,250 and 4,950 as markets continues to tussle between earnings growth and the high borrowing rate environment. 

Lastly, the Straits Times Index (STI) is currently testing its 3,300 level, with a potential retest of the key resistance at 3,350. 

Headlines for the week:
- US Corp Earnings (Walt Disney, Toyota, Uber, Airbnb, and Shopify)
- SG Corp Earnings (OCBC, REITs)
- US FED officials speak
- China PMIs

Disclaimers apply

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