Daily Morning Note – 30 November 2018
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YOUR PHILLIP SUMMARY
U.S. stocks reversed direction to close lower Thursday as investors’ attention shifted to a weekend meeting between President Donald Trump and Chinese President Xi Jinping amid some scepticism whether the two leaders can reach a consensus on trade. (DJIA -0.1%; SPX -0.2%; COMP -0.3%)
The Fed minutes from the central bank’s November meeting showed that almost every member of the Federal Open Market Committee felt comfortable with raising interest rates “fairly soon” as long as job market and inflation data were in line with expectations, bolstering expectations of another rate hike in December.
Deutsche Bank’s headquarters in Frankfurt were searched by prosecutors in a money-laundering probe.
Source: MarketWatch, Bloomberg
BREAKING NEWS
Americans’ spending rose by more than forecast in October, giving the biggest part of the
economy a solid start to the quarter, while a measure of underlying inflation cooled to the slowest
since February.
US central bankers believe another interest rate hike is due “fairly soon,” boosting widespread
expectations the Federal Reserve will raise lending costs next month, according to meeting
minutes released Thursday.
Creative Technology has partnered a Singapore-based video publishing platform to promote its
much-vaunted Super X-Fi audio technology, the home-grown consumer electronics company said
on Thursday.
Source: SGX Masnet, Bloomberg, Reuters, The Business Times, Channel NewsAsia, Phillip Securities Research
Clients of Phillip Securities can keep updated with Country Strategy and Singapore Sector Reports by logging into: www.poems.com.sg > STOCKS > Research
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