World equity markets ended mostly lower last week. The S&P 500 lost 1.8% to close at 1632.97, extending its fall from the previous week. Market sentiment was poor  with tension and uncertainty over Syria, whose government has been suspected of using chemical weapons on its citizens. According to a report on the Washington Post, the use of chemical weapons in Syria had resulted in death toll of over 1,400, including at least 426 children. The US reinforced its stand on holding the Assad regime responsible for the malicious use of chemical weapons.  
 
Economic data from the US  was mixed for the week. US durable goods orders came in significantly worse than market expectation, reporting a decline of 7.3% for July. On the other hand,  the US GDP figure outperformed estimates, gaining 2.5% for the second quarter. Approximately 331k Americans filed for jobless claims benefits last week, in line with the estimates from Bloomberg. The STI wasnt spared from the decline, the Singapore benchmark index lost 1.9% last week, closing at 3028.94. 
 
This week will be an important one for macroeconomic data, with the China manufacturing data to come out early in the week, followed by the US beige book release, jobless claims and unemployment later in the week. Investors are  also looking forward to the Federal Reserve making its stand on QE3 in the upcoming FOMC meeting on 17 -18 September. The decision is likely to  determine the mood and direction of the world equity markets  for at least the near term . 
 
Key macro data this week:

Mon 2 Sept: HSBC Manufacturing PMI (Aug), Euro zone PMI (Aug)
Tue 3 Sept: China Non-Manufacturing PMI, US ISM manufacturing index
Wed 4 Sept: Euro zone GDP, US Trade Balance
Thu 5 Sept: Japan BOJ rate decision, US Federal Reserve release beige book, ECB rates decision, US jobless claims, US factory orders
Fri 6 Sept: US non-farm payroll, US unemployment rate

Source: Macquarie Research - 2 Sep 2013