- Fed raises interest rates. The Fed raised benchmark interest rates by 0.75 percentage points as expected.
Big tech results, SIA and iFast's mixed fortunes & Fed rate hike
THIS WEEK IN MARKETS
It’s been a busy week of results, and what surprised us was the divergence in company fortunes.
Amazon is “seeing revenue accelerate”, Apple’s iPhone sales continue to grow but Meta saw its first ever revenue drop.
Singapore Airlines reported its second highest quarterly profit on soaring travel demand, while iFast swung into a loss with writedowns in India.
It seems like some companies are coping with high inflation and changes in consumer spending better than others.
Warren Buffett once said “Only when the tide goes out do you discover who’s been swimming naked”.
Likewise, we should be asking ourselves: What are you doing to make your portfolio resilient in both good and bad times?
IMPORTANT
Source: Bloomberg. Weekly price change as of market close on 29 July