Thai Stock Market May Extend Friday’s Losses

The S&P 500 has dropped 1.2% on average this year in the week after a one-day loss of at least 1%, according to Dow Jones Market Data. News Corp is a global, dotbig review diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services.

Next is the mainstream viewpoint, which you can see or read about in the traditional news. Finally, there is the stock market’s understanding of the economy. While the Fed’s projections pointed to an eventually tapering of rate hikes by next year, traders worry about the outlook for the global economy in the months ahead. Concerns about the outlook Forex news for the global economy continued to weigh on Wall Street after aggressive interest rate hikes by central banks around the world. Traders remain concerned the central banks’ efforts to combat elevated inflation will push the global economy into a recession. Lennar and KB Home both beat quarterly earnings views while just falling short on revenue.

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We do need to keep in mind, however, this bull market started in March 2020 from a low of 2191 for the index. Moreover, this correction, if completed, would not only be very short lived, but also not very deep.

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In July, imports were down 9.9 percent on year and exports fell an annual 8.9 percent for a trade deficit of HKD27.6 billion. Closer to home, Thailand will provide August figures for imports, exports and trade balance later today. Imports are expected to jump 17.9 percent on year, down from 23.9 percent in July. Exports are called higher by an annual 7.7 percent, up from 4.3 percent in the previous month. The trade deficit is pegged at $3.15 billion following the $3.66 billion shortfall a month earlier.

  • We believe that how the market reacts in April will tell us where the stock market is headed for the intermediate term.
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If there is a break below the February-March lows we would expect to see more downside. For the S&P 500, we would be looking at 3822 and 3518 as areas of support. Not the end of the world for investors, but not a barrel of monkeys kind of fun either.

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