Monday, 3 September 2012
FKLI related news
Wall Street was closed on Monday for a holiday. As such, yesterday’s uptrend in Malaysian market may be limited in the absence of fresh leads. However, market is likely to remain positive due to rise in European stocks Monday on hopes for ECB action.
The Wall Street Journal
- The Federal Reserve didn't have to say much to send stocks higher Friday, as investors embraced the prospect of more central-bank aid for the economy. The Dow Jones Industrial Average capped a quiet month of steady gains with a rise of 90.13 points, or 0.7%, on the day to 13090.84. It added 82.16 points, or 0.6%, in August, for the third consecutive monthly advance. For August, the S&P 500-stock index rose 27.26 points, or 2%, to 1406.58 and the Nasdaq Composite rose 127.44 points, or 4.3%, to 3066.96.
- Gold, which has gained on expectations of monetary easing, surged 1.9% Friday to finish at a five-month high of $1,684.60. Treasury prices rose, which pushed the yield on the 10-year Treasury note, which moves inversely to price, down to 1.564%, a nearly four-week low. Many investors expect Treasurys to benefit from any future bond purchases the Fed could pursue in a bid to stimulate the economy.
Oil rose on Monday, despite Chinese data showing a deepening slowdown in the world's biggest energy consumer, as investors focused on the possibility of more stimulus measures and other moves to try to revive economic growth.
Asian shares steadied on Tuesday as investors saw weak regional and global economic data as raising the prospect for further stimulus from central banks to underpin growth, while Europe kept hopes for some progress in tackling its debt crisis.
Today’s immediate Support and Resistance is located around 1645 and 1651 respectively.