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The US markets ended last week on a positive note, with the Nasdaq-100 Composite Index rising by 0.69% week-on-week to close at 18,119.6, and the S&P500 Index gaining 0.46% to end at 5,738.2. Strong economic data, including a modest increase in personal consumption expenditures (PCE) and robust job market figures, has buoyed investor sentiment.
Commenting on the outlook, Berjaya Mutual Bhd chief investment officer Datuk Dr. Nazri Khan said, “The US economy is showing encouraging signs, with inflation data on the correct glidepath and the job market holding firm. We expect the Federal Reserve to continue easing rates, which will support market momentum.”
Dr. Nazri also noted the improving environment for investors: “Despite recent setbacks, we remain positive and believe major holdings in our portfolio will recover as economic conditions strengthen. October should mark the beginning of a positive turnaround.”
Looking ahead, Dr. Nazri anticipates continued market growth. “Most major indices are poised to test new highs, and we expect portfolio performance to move in tandem with this positive trend,” he added.
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The article appeared in The Sun
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