Global Market – US Market at record high – DOW30 above 39000 and S&P500 above 5000
This week we will discuss US market which are trading at record high, US FOMC meeting minutes released this week and how China continue to provide support to its economy which continue to struggle despite opening up in last January.
NVIDIA after its fantastic earnings lead the rally in tech stocks. US FOMC meeting minutes released this week failed to provide any timing of rate cut, yet not negative reaction by market and market took this outcome with a stable view.
Fed Minutes Suggest Officials Are Seeking Smallest Balance Sheet Possible
Federal Reserve policymakers are gearing up for a bigger discussion about the central bank’s balance sheet, but for now its clear officials are keen to make it as small as possible.
U.S. Jobless Claims Decline to Lowest Level in A Month
Initial claims decreased by 12,000 to 201,000 in the week ending Feb. 17, according to Labor Department data released on Thursday. The figure was lower than all economists’ estimates in a Bloomberg survey.
Top Fed Officials Bolster Case for Patient Stance on Rate Cuts
Three top Federal Reserve officials hammered home the message Thursday that the US central bank is still on track to cut interest rates this year — just not anytime soon.
China’s Central Bank Tries to Catch Markets Off Guard with Surprise Easing
A record cut to a key lending rate earlier this week announced by the People’s Bank of China was just the latest unexpected move since Governor Pan Gongsheng took office last summer. At a press briefing last month, he shocked with an outsized cut to banks’ reserve requirement ratio.
Equichain Wealth Advisors: Market View & Opinion
We are certainly cautious as rally seen in market globally seems to be running ahead of its on positive expectation and events will follow later on. Risk-On sentiment continue to provide much needed boost as economy remains strong.
In such time we would continue to maintain balance approach with investment around 65% to 75% while keeping cash level anywhere between 25% to 35%. We do fear that market may be venerable to any negative news which could increase volatility in near term.