Index Weekly Wrap for the Week of Jul 5

Summary of content for the week of Jul 5:

1. Week 27 major indexes performance;
2. Week 27 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;

U.S
U.S stocks extended their recent gains in a holiday-shortened week, SPX closed remarkably record high for the week. Investors breathed a sigh of relief after the U.S and China agreed to suspend new tariffs and resume negotiations. The rally in bonds was also extended last week, as the 10-year government bond yields fell to their lowest levels in more than 2-year amid signs of lower U.S growth and expected Fed rate cut. But the closely watched Friday's employment report showed that U.S economy added 224k new jobs in June, the strongest month since January, this cooled elevated Fed rate cut expectation. The SPX technical resistance to watch is 3030 level. 

 Among the 11 SPX main sectors, the small Real Estate sector(XLRE) outperformed, while Energy(XLE) share fell. Refer to below SPY sector ETFs weekly performance table. 

China/HK
China and HK stocks posted a weekly gain, as investors reacted with relief to a temporary ceasefire on tariffs by Trump and Xi at the G20 meeting last week. the SSE index closed in 9-week high, with immediate technical resistance at 3050 level, while the HSI index technical resistance at 30,000 level. 

Singapore
The STI extended its weekly gain into 5th week in a row, approaching its all-time high this year, immediate technical resistance at 3415.