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.