The world of finance is always abuzz with activity, and this week was no exception. In partnership with Securities Investors Association Singapore (SIAS), we bring you the Weekly Market Review with all the latest updates on the global equity market. This week, we delve into the earnings reports from US tech giants – Apple, Microsoft, and Meta. Buckle up as we take you through the exciting happenings in the financial world.
Macro Update:
- The S&P 500 saw a 1.4% drop, accompanied by a 1.5% decrease in the Nasdaq Composite Index. Surprisingly, the Dow Jones Index slipped down by only 0.1%.
- Following the trend, the STI also experienced a 1.1% decline, mirroring the movement in the US market.
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The US non-farm payroll report painted a bleak picture with only 12,000 jobs added, marking the lowest increase since December 2020. Hurricanes in the US and labor strikes at Boeing were cited as the primary reasons for this downturn.
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Analysts are anticipating a 25 basis point cut during the Fed meeting next week, adding another layer of uncertainty to the market.
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Meanwhile, the US 10-year bond yields saw a significant rise, signaling potential shifts in the market landscape.
As we navigate through the intricacies of the financial world, it’s essential to stay informed and prepared for any twists and turns that may come our way. Keep a close eye on these developments as they unfold, and remember, knowledge is power in the world of finance. Stay tuned for more updates and insights in the coming weeks, and let’s make informed decisions for a brighter financial future.
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