Today s Highlights: DJIA hits a new high at 27,088 driven again by expectations of interest rate cuts: DJIA closed up 228 points (+0.8%)as the Fed s report to Congress (on the second day) suggests they would cut interest rates to boost the economy. The US dollar weakened but bond yield rose to 2.14% after the US reported core inflation had improved to 2.1% in June from 2% in May. OPEC cuts 2020 forecast oil demand but a hurricane in the Gulf of Mexico will support oil prices: WTI price eased US$0.23 to US$60.2/bbl, depressed by profit-taking after surging the previous day. Moreover, OPEC has cut 2020 forecast oil demand to 29.27mn bpd from 30.61mn bpd, but maintained output forecast at 29.83mn bpd, which implies 500,000 bpd excess supply. However, approaching severe weather in the Gulf of Mexico has prompted the US energy industry to halt a third of production capacity there. TISCO reports in-line 2Q19 earnings but NPL ratio inched up; other banks will report results next week, which could disappoint: TISCO Bt1,798mn net profit for 2Q19, up 5% YoY and QoQ. However, NPL ratio inched up to 3.2% from 3% in 1Q19, which is a main concern for the sector. Most banks, especially big banks (KBANK, KTB, SCB) are expected to report weaker earnings YoY.【อ่านข้อความเต็ม】