Again, market participants eagerly anticipate clues this week
Market narrative largely remains the same as last week. Again, participants eagerly anticipate clues from corporate earnings to assess the impact of the prevailing high-interest environment on future outlooks. This week, major tech companies are set to report their earnings. Market observers will be closely watching Amazon (AMZN) as a gauge for consumer spending, while Alphabet (GOOGL) will provide insight into corporate marketing expenditures. Visa (V) is expected to offer a glimpse into the travel industry's outlook, and ExxonMobil (XOM) will reflect global economic activity. From a technical perspective, the S&P 500 continues to trade within a narrow range below the critical 4,180 resistance level. We have nil tactical ideas for week, closely monitoring for directional breakout. I have not discussed Straits Times Index (STI) for sometime, as index continues trading within 3,000 - 3,450 range since April 2022. Additionally, United Overseas Bank (UOB) , is poised to shed