Financial markets tread fine line between hope and fear

Markets could start rallying by mid-2023 when the Fed and central banks pivot away from their quantitative tightening. PHOTO: EPA-EFE
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SINGAPORE - The financial markets made some marginal gains in an attempt to eke out a year-end Santa rally on the back of the latest United States consumption and jobs data.

Wall Street’s Dow Jones Industrial Index ended the week with a slim 0.86 per cent gain at 33,203.93 points last Friday, while the broader S&P 500 index slipped for the third consecutive week, albeit by a negligible 0.2 per cent to 3,844.82 points. The tech-heavy Nasdaq slipped 1.94 per cent for the week to close at 10,497.86 points.

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