1. Week 37 major indexes performance;
2. Week 37 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;
U.S
U.S stocks closed for 3rd straight weekly gain, the SPX is just about 27pts to reach its all-time high. Improving economic data, supportive global central bank policies and optimism around US-China talks all led to stocks advances in major markets around the world. U.S 10-Yr Treasury yield had sizable rebound this week also easied market concern for an economy recession caused by the inverted yield curve. U.S FANG stocks(FB, AMAZN, NFLX and GOOGL) underperformed and attributed to weak Nasdaq composite index.
Out of the 11 major SPX sectors, cyclical sectors(financials, industrials and energy), outperformed defensives(utilities, healthcare and consumer staples). As seen in the weekly sector performance table below.
China/HK
China stocks advanced in a holiday-shortened week, the trade negotiations set to move forward between U.S and China, and China is taking stimulus measures to support its weakening economy. HK stocks outperformed this week with 2.48% gain, HK stock exchange's(HKSE) proposal bid to takeover London Stock exchange(LSE)was rejected after Asian markets closed, expected the HKSE will rebound coming week.
Singapore
STI had 2.13% gain this week, very bullish. 2nd-week straight rebound. There are still plenty of room to upside as seen from its weekly chart below.
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