Market Outlook - 24th - 28th October

Market Outlook
- WALL STREET:
US indices closed mixed last week. On the economic front, Consumer Price Index rose 0.3% MoM and 3.9% YoY in September as expected while housing starts jumped 15% to a 658,000 annual rate. Regarding the Beige Book, reports indicated that overall economic activity continued to expand in September, although contacts generally noted weaker or less certain outlooks for business conditions. Looking at US earning releases, Microsoft posted a 1Q EPS of $0.68 as expected. Apple posted 4Q EPS of $7.04 vs $7.31 expected and forecast 1Q EPS about $9.30 vs $9.02 expected. All sectors closed higher, except for software, materials, technology hardware and equipment. Insurance and diversified financial had the performance. From a technical view, the S&P500 index broke its key resistance at 1230 last week, which should open the upside way to 1250, and possibly 1255.
- EUROPE:
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