Weekly Market Outlook: US Federal Reserve's rate cut Benefiting Asian Equities and Bonds

Week Ahead, 23 Sept 2024

Asian and Emerging Markets equities and bonds are set to benefit from the Federal Reserve's rate cut, as borrowing costs are expected to decrease, while stocks are further supported by stronger currencies.

The U.S. S&P 500 Index continues its upward trend. As long as the index holds above the 5,650 support level, the next technical target lies in the 5,900-6,000 zone.

The NASDAQ 100 ETF has broken out of its downtrend line, signalling a potential retest of its previous high in the 500 area, with immediate support at 470.

The Straits Times Index (STI) has reached its 3,600 technical target and may consolidate this week before moving towards the 3,700 area. Immediate support for the STI stands at 3,500.

Singapore real estate investment trusts (REITs) are expected to go thru short-term pullback or consolidation following their recent rally.

No single stock setups have been identified for the week ahead.

Headlines for the week:

- US Aug PCE, PMI Surveys

- SG Aug CPI, Ind Prod

Disclaimers apply

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Palantir Technologies Inc PLTR: Technical Rebound at Sight After US Broad Market Stabilises

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