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Weekly Market Outlook

 


Thoughts on the Week Ahead:
Week of July 1, 2024

The US Presidential debate caused some volatility in Friday evening markets, as participants see the debate as favoring Donald Trump's return to the White House. Both equities and US Treasury bond prices fell after the debate.

On the bright side, the PCE report was positive, with inflation meeting market expectations. While we remain optimistic about the S&P 500, its inability to break above 5,500 and its decline on Friday is concerning. We are closely monitoring market trading actions and the crucial 5,375 support level.

In China, markets continue to face volatility. Our support for the Hang Seng Index (HSI) remains at 17,000-17,200.

Meanwhile, the Singapore Straits Times Index (STI) has returned to its resistance level. We could see a decisive move up or down this coming week.

We are cautious on the markets but will continue to identify trading opportunities in the coming week

Headlines for the week:
- US FOMC Minutes, Job Report, market closes on Thurs
- HK market closes on Mon
- SG May PMI, 


Disclaimers apply

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