FOMC Meeting, Big Earnings Reporting and the Week Ahead
Thoughts on Week Ahead:
Week 29 Jan 2024
This week is set to be significant for the global economy, as the focus shifts to key data releases and decisions by the US Federal Open Market Committee (FOMC). In the United States, the anticipation is that the Fed will maintain current interest rates, but investors are keenly observing for indications regarding potential future rate cuts. Attention is also directed towards important economic indicators such as the jobs report, ISM PMI, and JOLTs job openings.
Simultaneously, the earnings season persists, featuring reports from major players like Apple, Amazon, Alphabet, and others. Mag7 continues to be the major contributors of S&P 500 performance, thus their earnings reports will be key to market direction and investors sentiment.
Beyond the US, Chinese PMIs are anticipated to reveal ongoing subdued economic activity despite stimulus efforts, while the Monetary Authority of Singapore (MAS) is expected to release its monetary policy statement.
Noteworthy trading activity is observed in China A50, where, despite China's overall technical downward trend, the index remains resilient, staying well above the crucial 11,200 level. The identification of a Morning Star pattern, a positive technical indicator, adds to the positivity.
As of now, no specific tactical ideas have been uncovered, but any developments will be promptly updated.
Headlines for the week:
- US Corp Earnings (AAPL, MSFT, AMZN, MA, AMD, EA, BA, XOM)
- SG Corp Earnings (REITs, SGX, Keppel Corp)
- US FOMC, NFP Report, ISM Mfg Report
- China PMI and Econ data
- SG MAS Policy Statement