Kaohoon Morning Brief – 5 February 2024

Krungsri Securities (KSS) expected Thailand’s SET Index to move within the range of 1,375-1,400 points. Even with a positive sentiment on stocks with specific catalysts from 4Q23 earnings, the hot non-farm payroll in the U.S. tarnished the Fed’s rate cut hopes. Meanwhile, a declining oil price also pressured the market on the demand side.


The Federal Reserve’s Chairman Jerome Powell stated in a 60 Minutes interview that almost all of the 19 participants believe that it will be appropriate for the central bank to cut the federal funds rate this year, but only three cuts are expected.


Former President Trump told Fox Business that if he is re-elected in November, he would not reappoint Jerome Powell to a third term as chair of the U.S. Federal Reserve, believing Powell to be “political.”

Meanwhile, the Fed’s chair said that he is not focusing on a potential term, but only his job right now.


The share price of Meta Platform rose 20% on Friday, adding $197 billion to its market capitalization, which would be the biggest single-session market value addition, eclipsing $190 billion gains made by Apple & Amazon in 2022.

The rise follows the announcement of its earnings in 4Q23 that grew by 25% YoY to $40.1 billion from $32.2 billion and also the announcement of its first ever dividend payment.