As at 10.45pm Malaysia, U.S. stocks gained after retail sales jumped more than forecast and bond yields fell. Stocks plummeted yesterday after the benchmark bond yield soared to its highest since 2002. Treasury yields fell today even after the retail sales report and a higher-than-expected gain in import prices stoked inflation concerns. Positive retail sales numbers improve the prospects that the second quarter is going to be stronger than the first, which is what investors are looking for. With bond yields down, that should add more support to the market.
The Standard & Poor's 500 Index added 11.38, or 0.8 percent, to 1504.38 at 10:22 a.m. in New York. The Dow Jones Industrial Average increased 95.32, or 0.7 percent, to 13,390.33. The Nasdaq Composite Index advanced 14.15, or 0.6 percent, to 2563.92.
If the Dow Jones could maintain its positive mode until close, then Malaysia shares likely to rebound, testing the 1360, 1370 resistance tomorrow after falling 0.6% to close at 1353.03 in decent volume of 1.14 billion shares.
If the Dow Jones could maintain its positive mode until close, then Malaysia shares likely to rebound, testing the 1360, 1370 resistance tomorrow after falling 0.6% to close at 1353.03 in decent volume of 1.14 billion shares.
TOMYAM SHOPPING LIST
TODAY AYAM's TALK
- UMW Withdraws Proposed HK Listing Of WSP Holdings
- Deutsche Bank Rates Scomi Group A Buy
- QL Resources; Aseam Ups Tgt To MYR4.15
- Deutsche Bank Rates KPJ Healthcare A Buy
- S&P Cuts Scomi Marine To Hold Vs Strong Buy
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