Traders to keep close watch on Budget, Trump and Fed
ALL eyes will be on Finance Minister Heng Swee Keat on Monday as he presents Singapore's Budget 2017 that is expected to address both near-term and longer-term goals. Traders will keep a close watch on the sectors most impacted by the budget even while they continue to keep an eye out for clues on market-moving news elsewhere.
Some trading inspiration may come from Wall Street where all three major stock indexes closed at record levels last Friday night, with the Dow Jones Industrial Average extending its record-breaking run to a seventh session. The Dow was up 0.02 per cent, the S&P 500 climbed 0.17 per cent while the Nasdaq Composite rose 0.4 per cent on last week's last trading day.
Yet, the impact on the local bourse may be muted ahead of the long US weekend - the US Presidents' Day holiday on Monday - although no one dares discount the high likelihood of more remarks from US President Donald Trump that could scare or inspire markets.
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