Weekly Market Outlook June 29, 2014
Weekly Market Outlook:
Pfäffikon SZ, Switzerland – For investors, a busy and important trading week lies ahead, despite the relative calm on the financial markets. The next week, it is mainly about the employment and ISM non-Manufacturing Index in the U.S.. Additionally, the European Central Bank (ECB) will publish an interest rate decision, but after the monetary fireworks at the last interest rate, meeting this will bring not much news. Last week’s weak GDP figure (-2.9%) from the U.S. gives room for much discussion.
The bad GDP figure is probably due to the harsh winter and the rollout of ObamaCare. Partly for this reason, the GDP data is extremely difficult to unravel, and is already an outdated figure. If the coming week the economic data is better than expected, and the corporate results confirm this a few weeks later, the way to the 2,000 points ‘and beyond’ in the S&P 500 is open. We note that July is normally a good month for equities in general. Furthermore, the U.S. markets will close earlier on Thursday and will be closed on Friday for Independence Day.
This material is communicated on June 29, 2014 by Thirteen Asset Management AG, Rietbrunnen 20, 8808 Pfäffikon SZ, Switzerland. This material is for information purposes only and is not intended to be a solicitation or invitation to invest. Any organizations or products described in this material are mentioned for reference purposes only. This material is intended only for investment professionals and professional clients and must not be relied upon by any other person. It is proprietary information of Thirteen Asset Management AG and may not be reproduced of otherwise disseminated in whole of in part without prior consent from Thirteen Asset Management AG. Alternative investments can involve significant risks and the value of an investment may go down as well as up. There is no guarantee of trading performance and past or projected performance is not a reliable indicator of future performance. We recommend to consult your bank, investment and/of tax adviser.
