The health of the American consumer will take center stage next week, with investors watching corporate earnings reports and retail sales data for further confirmation of the economic resilience that has buoyed stock markets this month. .
As earnings season begins, stocks are on a roll. The benchmark S&P 500 index will post its fifth consecutive weekly gain and is near a new all-time high after rising more than 21% this year.
On the global front, US markets remain resilient and continue their upward trend despite mixed signals. However, this positivity has not yet spread to the Indian markets. Meanwhile, anticipation of more stimulus measures from China may continue to support demand for metal stocks.
The strength of the Chinese market has been a key factor in FII’s sales in India. Currently, we have a negative correlation with the China and Hong Kong markets. Over the weekend, China’s Ministry of Finance held a meeting where the market anticipated guidance on future stimulus plans. A positive outcome from China could significantly impact our market, while any disappointment could provide a short-term boost to Indian stocks.
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