1) FSS expects Thai stocks to move sideways amid pressure from Fed’s uncertain moves
Finansia Syrus Securities (FSS) expected Thailand’s SET Index to move in a sideways trend in the mid-term after being unable to hold above the 1,540 support level. The new support is now shifted to 1,520-1,515 points. The possibility of the Fed hiking rates one last time before the year’s end still lingered and pressured the market. The street also feared that next year’s cut would be lower than previously anticipated.
2) Citi expects oil prices to ease as $90 looks unsustainable
Crude oil prices could head toward $100 a barrel for a short while, but are expected to retreat by the end of this year, according to Citi’s global head of commodity research Ed Morse and his team amid output cuts from Saudi Arabia and Russia as well as geopolitical tensions.
The analyst stated that oil prices at $90 look unsustainable given faster supply growth than demand growth excluding Saudi and Russia.
He also noted that higher prices in the near term could create more downside for oil prices next year.
3) Goldman says iPhone 15 has stronger demand than previous model as shares rise 2%
The share price of Apple rose as much as 2% on Monday after reports of strong demand for iPhone 15.
Wedbush and Goldman Sachs are the two sources that said that internal checks showed that there are a higher number of pre-orders by 10-12% YoY and that demand is outpacing supply for the new iPhone.
Wedbush’s analyst noted that deliveries are now moved to late October to early November for various models of the new iPhone.