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 b
Week 22 April 2024 Be mindful of potential market volatility next week as several US mega-cap companies are announcing earnings. Risk-off sentiment continues to weigh on US stocks as hopes for interest rate cuts fade. However, it's worth noting that US financials remained resilient during the sell-off due as the banks benefit from high-interest margins. Interestingly, US listed Chinese tech companies were largely unaffected during Friday’s tech sell-off, which could indicate supply exhaustion and potential trade or allocation opportunities. Heads up for the Singapore market next week as market will due to soften in view of DBS going ex-bonus on Monday. This week, constrained retaliation actions by countries in the Middle East provide some level of relieve for investors and global citizens. Nil trade set-up for the week ahead but will update when we identify any. Headlines for the week: - US Corp Earnings (Alphabet, Amazon, Microsoft, Meta, Visa, Tesla, GE, UPS, Lockheed Martin, Q