In our latest edition of the Weekly Market Review, brought to you in partnership with the Securities Investors Association Singapore (SIAS), we’re diving into the latest happenings in the global equity market. We’ll also be shedding light on two key players: OCBC and ST Engineering. Be sure to check out the video for a deeper dive into what we’re monitoring this week.
Let’s start with a broad overview of the market.
Macro Update
Last week wasn’t the best for global markets. The S&P 500 saw a significant dip of 2.6%, the NASDAQ fell even further by 3.5%, and the STI slipped by 0.9% to just under 3,900. These declines largely stemmed from a notable drop in consumer confidence and retail sales in the U.S. The Conference Board Consumer Confidence Index took a nosedive, plummeting below the 100-point mark. Add to that the ongoing worries about stubbornly high inflation and the potential ramifications of tariffs, and it’s no surprise that market sentiment took a hit.
Despite this overall market gloom, there were some bright spots. NVIDIA outperformed expectations, with its Q4 revenue skyrocketing by 78% to reach $39.3 billion, and earnings per share coming in at $0.89. Yet, even this stellar performance wasn’t enough to keep the stock from falling. Investors seemed worried about whether this growth momentum could be maintained. The surge in data center revenue was impressive, jumping by 93%, but questions remain about future growth.
