Unlock Wealth Potential with Moomoo Cash Plus: Here’s How #Weekly Market Pulse

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This week, the US stock market is likely to focus on the resurgence of technology stocks as economic data continues to show resilience. With inflation moderating and consumer spending holding up, there is growing optimism that the Federal Reserve may not need to raise interest rates further. This environment benefits growth-oriented sectors, particularly technology, which could see renewed investor interest. Additionally, corporate earnings from major tech players are expected to beat expectations, providing further momentum.

This week, the Malaysian stock market will likely focus on the upcoming Malaysia GDP data release, expected around mid-August 2024. This key economic indicator could set the tone for market direction, providing insights into the country's economic resilience amid global uncertainties. Investors are positioning themselves ahead of this crucial release, with expectations that it might influence sector-specific performance.

Sectors that are expected to gain attention include Technology, driven by strong performance in the US tech sector and ongoing AI and data center themes. Additionally, the Construction, Property, and Building Materials sectors are likely to benefit from infrastructure-related projects and government initiatives. The Banking sector could also see increased activity as investors anticipate solid earnings reports and potential dividends.

Beneficiaries:

This theme is driven by the positive setup in the US markets, combined with local factors such as a stronger ringgit and anticipated infrastructure developments, which are expected to influence market dynamics in the short term. The GDP data release will be a pivotal moment for traders and investors, potentially steering market sentiment for the rest of the month.

🇺🇸US Stock Market Review 12 Aug - 16 Aug 2024

Key Movers: Nvidia (NVDA +24%), Walmart (WMT +4.2%), H&R Block (HRB +17%).

Market Overview: The US stock market had a robust performance this week, with the major indexes achieving their best weekly gains of 2024. The Nasdaq led the way with a 5.3% increase, driven by a strong rebound in tech stocks, particularly Nvidia, which surged after a sharp decline in previous weeks. The S&P 500 and Dow Jones also recorded solid gains, rising 3.9% and 2.9% respectively.

This rally was supported by easing inflation concerns and better-than-expected corporate earnings, which boosted investor sentiment. Walmart and H&R Block were among the top performers, with Walmart hitting a record high following a strong earnings report.

Events to Watch:

Federal Reserve: Further commentary from Federal Reserve officials could impact market sentiment, particularly regarding the outlook for interest rates in the coming months.

21 Aug - US Crude Oil Inventories, 22 Aug - US Initial Jobless Claims, US Manufacturing, Services PMI

🇲🇾MY Stock Market Review 12 Aug - 16 Aug 2024

Key Movers: CIMB (+6.4%), Petronas Chemicals (+5.7%), MRDIY (+3.8%)

Market Overview: The Malaysian stock market experienced a positive week from 12 to 16 August 2024, with the FBM KLCI gaining 1.75% to close at 1,623.90 points. The market was buoyed by strong performances in the Banking and Industrial Products sectors, with CIMB and Petronas Chemicals leading the charge. CIMB rose by 6.4% amid optimism surrounding its upcoming earnings report, while Petronas Chemicals saw a 5.7% increase due to the rebound in crude oil prices.

The overall market sentiment was lifted by easing recession fears in the US, following better-than-expected economic data, including softer inflation figures and strong retail sales. This, coupled with the anticipation of a potential rate cut by the US Federal Reserve in September, provided a favorable backdrop for local stocks. MRDIY also saw a 3.8% increase, benefiting from the stronger ringgit, which supported consumer sentiment.

Follow me for more trading insights in the Malaysia stock market! Have a good week.