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Stocks start the year positive, but watch out for turbulence
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The market’s short term outlook hinges on the outlook for inflation, interest rates, the risk of a deep recession and corporate earnings downgrades.
PHOTO: REUTERS
SINGAPORE - Stock markets kicked off the year on a positive note, thanks to lower inflation numbers in the United States. But analysts warn that there could be some turbulence down the road before a more sustainable rally kicks in.
The Dow Jones Index closed at 34,302.61, notching a five-day gain of 2 per cent, while the S&P 500 gained 2.67 per cent for the week to end at 3,999.09 points.
