Weekly Market Outlook

Thoughts on the Week Ahead:

Week of July 29, 2024

Equities markets experienced volatility over the previous week before rebounding on Friday evening. Both the US S&P 500 and Singapore's STI are trading near their technical support levels of 5,400 and 3,400, respectively, while the HK Hang Seng Index continued its downward trend.

The market has largely priced in the US Federal Reserve holding interest rates steady at current levels, with investors awaits Chair Jerome Powell's speech for clues on inflation and potential rate cut expectations.

Bond prices remained strong, and we maintain a cautious outlook for the week ahead until we observe a change in momentum for the equities market.

Headlines for the week:

- US Corp Earnings (MSFT, META, AAPL, and AMZN, SIA, UOB, Keppel, OCBC, Seatrium)

- US FOMC meeting, NFP report, ISM Mfg PMI

- China PMI,

- SG PMI, Unemployment

Disclaimers apply

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