The Week Ahead: Buffett’s Take On Life Under Trump

As the markets try to figure out the implications of a Trump Presidency, perhaps the sagest words in a sea of noise were delivered by Warren Buffett. The Sage of Omaha said the stock market will be higher in 10, 20 and 30 years from now, and it would have been with Hilary and it will be with Trump.

In other words, life goes on. And it does, as the earnings season for Singapore’s blue chips draws to a close next week.

The two remaining companies to report quarterly results in the Straits Times Index (SGX: ^STI) are Golden Agri-Resources (SGX: E5H) on Thursday and Thai Beverage (SGX: Y92) on Friday.

In August the ThaiBev said revenue for the second quarter rose 16%, though profits were largely unchanged. However it will be the outlook by the Thai beer maker that will be closely watched, following the passing of King Bhumibol.

It’s time for those inflation numbers from the US again. Last month, the US Bureau of Labor Statistics said core inflation for September increased by 2.2%. It was slightly below market estimates but it is a sign that prices are rising, if volatile items such as fuel are excluded.

Janet Yellen is due to appear before Congress next week. Whilst the Fed chair is unlikely to give too much away in her testimony, Yellen might reiterate the central bank’s feeling that an interest-rate hike is a strong possibility next month.

China is due to report retail sales figures for October. In September, they rose 10.7% compared to 10.6% a month earlier. It was the fastest growth since December 2015. But if this year’s Singles’ Day sales are anything to go by, Chinese consumers are in the mood for buying.

Japan is scheduled to report its latest GDP figures. To say that growth has been anaemic is an understatement. The Japanese economy only expanded at an annualised rate of 0.7% in the second quarter of 2016. It might have been better than expected. But it is still some way short of the 2% that the country has enjoyed in the past.

And finally, Singapore will report retail sales for September. Last month retail sales fell unexpected by 1% year on year. It was the first decline since February, when seasonal effects were at play.

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