Wednesday, 13 March 2013

FKLI Related News

(Reuters) - Stocks edged up on Wednesday, with the Dow rising for the ninth straight session to another record, buoyed by surprisingly strong retail sales that suggested the economy is gaining momentum. The Dow Jones industrial average's nine-day winning streak is the longest consecutive run since November 1996. But trading volume was light. Moves have been muted in recent days as investors consolidate positions after a strong run-up in the first three months of the year. Still, weakness in stocks has been met with buying, which helped propel the market's advance.
The broader S&P 500 is within striking distance of its all-time closing high of 1,565.15 and about 1 percent away from all-time intraday high of 1,576.09 - both set in 2007. International Business Machine (IBM.N) and Boeing Co (BA.N) were the Dow's top two gainers. IBM shot up 0.7 percent to $212.06. Boeing also jumped 0.7 percent - to $84.75 at the close. The Dow Jones industrial average .DJI gained 5.22 points, or 0.04 percent, to 14,455.28, another record closing high. The Standard & Poor's 500 Index .SPX advanced 2.04 points, or 0.13 percent, to 1,554.52. The Nasdaq Composite Index .IXIC gained 2.80 points, or 0.09 percent, to end at 3,245.12.

Signs of strength in the economy and the Federal Reserve's easy monetary policy have helped U.S. equities accelerate their advance. The blue-chip Dow is up 10.3 percent for the year and the benchmark S&P 500 index has gained 9 percent. Wednesday's retail sales report reinforced the view that the U.S. economy has momentum, even with the obstacles the recovery is facing. Sales increased 1.1 percent in February, the largest increase since September. Investors had been looking for signs of any impact on spending from stubbornly high unemployment and a higher payroll tax that went into effect at the start of the year. The Morgan Stanley retail index .MVR gained 0.7 percent.          [Reuters]

The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts on Bursa Malaysia Derivatives were traded  mostly lower in the early session today on the weaker performance of the local bourse, dealers said.

FKLI spot month opened slightly higher this morning at 1643.  Today’s Support and Resistance  for March contract is located around  1,620 and 1,650 respectively.

No comments:

Post a Comment