Weekly Market Outlook

Thoughts on Week Ahead:

Week 29 April 2024

Google entered the prestigious 2T club on Friday following its earnings announcement, contributing to the momentum of the stock market rally. The exclusive group of companies valued at over $2 trillion now includes Apple, Microsoft, Google, and Nvidia. A lighthearted suggestion for this elite group could be the "Fantastic 4," and perhaps humorously dubbed "MANGO" if Oracle could join the ranks.

From a technical standpoint, the S&P 500 found support at the 4,950 level, indicating expectations for the index to trade within a range of 4,950 to 5,260.

The upcoming US Federal Open Market Committee (FOMC) announcement next week garners significant attention, particularly regarding adjustments to inflation forecasts and the outlook for 2024 rate cuts.

A notable development from the past week was the Hang Seng Index (HSI) and China A50 breaking above their respective medium-term downtrend resistance, suggesting a potential bottom for both indices. This could prompt investors to consider adding exposure to the China market in their core portfolios and engaging in more tactical trades within the Greater China markets.

DBS Group (D05) is set to announce earnings on Thursday, which could influence directional movements for Singapore banks and the Straits Times Index.

Headlines for the week:

- US Corp Earnings (Amazon, Eli Lilly, Coca-Cola, McDonald's, Mastercard, Qualcomm, Apple and Booking)

- SG Corp Earnings (DBS, REITs, Wilmar)

- US FED FOMC, Jobs Report

- China PMI, Labour day holiday

- SG PMI, retail Sales, Labour Day

Disclaimers apply

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Seminar: What’s Ahead for US Market – Navigating Uncertainties and Key Themes with Structured Certificate

What's Ahead for the US Market? Navigating Uncertainties and Key Themes with Structured Certificates Learn more about the US stock market and how to position your portfolio in these uncertain times? Join us for a free seminar on Monday, November 4th, from 7:00 PM to 8:30 PM at the SGX Auditorium. In this seminar, we will explore: Key themes driving the US market: Gain insights into the factors that are shaping the current market environment and what you can expect in the coming months. Navigating market uncertainties: Learn strategies for managing risk and capitalizing on opportunities in a volatile market. Introduction to structured certificates: Discover how structured certificates can offer potential enhanced income returns with managed risk. Who should attend? This seminar is designed for investors of all levels who are interested in learning more about the US market and how to invest in it. Speakers: Brandon Leu, CMT, CFTE: SGX Academy Speaker Ms. Olivia Chen: Man...

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