To The Moon

Public Holidays

There are no public holidays in Singapore, Hong Kong, America, or Singapore in the coming week.

Economic Calendar (04Nov24)

Notable Highlights

• The most watched event of the coming week will be the US presidential election. The results will likely affect American and global sentiment towards business and the conflicts in the various regions. With presidential candidate Trump promising to end the conflict quickly, this should bring some relief to the market though the defense industry should suffer.

• The next most important news will be the Federal Reserve's interest rate decision, which is due on Thursday night US time. The general forecast is looking at a 25-basis point cut. The recent inflation data from PCE would leave the Fed with some consideration as inflation remains stubborn.

• S&P Global Services PMI will be released with a forecast of 55.3. This represents an expansion of the services sector and its demand.

• ISM non-manufacturing PMI and ISM non-manufacturing prices will also be released. This will provide some insight into the outlook of the non-manufacturing (that is, services) sector and the expected inflationary pressures.

• The 10-year note auction and the 30-year bond auction will also represent the outlook for the bond market. Typically, the bond market and the equity market worked in opposite directions.

• Initial jobless claims will be announced. The Federal Reserve uses this as one of the key macro data references as it balances inflation and employment in the economy.

• Crude Oil Inventories can be seen as forward indicators of market demand and consumption. If the trend of excess inventories continues, demand erosion can lead to reduced production & weakening consumer spending.

The macro component will play a bigger role in the market’s movement in the coming week.

@TigerStars

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