1. Week 23 major indexes performance;
2. Week 23 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels.
U.S
Stocks rebounded from losses in May as anticipation grew that the Fed could cut interest rate to support U.S economic growth 2H this year. SPX closed up 4.4% which is the best weekly gain in six months. At the same time bond yield dropped to the lowest levels in two years. The economic data released were mixed but Fed cut of interest rate and U.S-Mexico reached a deal to avoid tariffs were the main pushing factors for stocks rebound.
All 11 major SPX sectors up for the week, Materials(XLB) and Technology(XLK) are the two best performers and Communications(XLC) lagging. Crude oil price added 1.46 or 2.78% to 54.05 per barrel, 1st week closed up after two-week decline.
China/HK
China and HK markets were closed for a public holiday on Friday, closed this week at its 4-month low. Technical support to watch will be at 2800 in coming week(s). HSI closed slightly higher this week, just beneath 27000 technical support level.
Singapore
STI added 1.6% this week, finished rebound after 4-week consecutive decline. Immediate technical support level to watch is at 3100.
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