Week Ahead: 4 Aug 2025 US Treasury yields plunged after weaker-than-expected job data, driving up market expectations for a Fed rate cut in September. Markets now see an 81% chance of a September cut as labor market cools and manufacturing shrinks, intensifying pressure on the Fed amid sticky inflation and tariff shocks. US markets (S&P 500) closed 1.60% lower, and Asian markets are expected to follow suit. Key technical support levels are as follows. DBS and UOB earnings are also expected to take centre stage this week. Short Term: S&P 500 (SPX): Index remains under downward pressure, currently trading near the initial support zone at 6,300. The key support level is at 6,050. For the bullish trend to resume, the index must break and hold above the 6,300 level. Hang Seng Index (HSI): The Hang Seng Index (HSI) failed to hold above the 25,000 psychological level. The index may retreat to the initial support at 24,200, with key support at 23,800—the midpoint of ...