S&P 500 Hits Fresh Record, Will China s RRR Cut Boost Hang Seng?
S&P 500, HANG SENG INDEX, ASX 200 OUTLOOK:
Investors anticipate a strong Q2 earnings season, boosting sentiment. Treasuries fell
China’s central bank unexpectedly cut the Reserve Requirement Ratio (RRR) for all banks
Earnings, RRR Cut, China GDP, US Core Inflation, Asia-Pacific Week-Ahead:
The S&P 500 index hit an all-time high on Friday as investors shrugged off concerns about the Delta variant and focused on the upcoming earnings season. The estimated earnings growth rate for the S&P 500 index in Q2 is expected to hit 64% YoY, marking the fastest expansion in more than a decade. Analysts have revised up their earnings forecasts from March to June as the economic recovery gathers pace. More blue chip companies have issued positive EPS guidance than those that issued negative outlook, according to data compiled by Factset.
The week in review: PBoC announces blanket RRR cut, overseas Chinese tech IPOs face cybersecurity reviews
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With China Producing Half the World s New Energy Vehicles, Retired Batteries May Bring Explosive Pollution
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Electric-car sales in China are expected to double this year
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