FKLI Related News

U.S. stocks rose for the week, sending the Standard & Poor’s 500 Index to the highest since 2008, amid bets the Federal Reserve will stimulate the economy and as the European Central Bank announced a bond-buying plan. (Bloomberg)

The S&P 500 added 2.2 percent to 1,437.92, snapping a two- week decline, in its biggest rally since June. It rose within 10 percent of its all-time high in October 2007. (SPX) The Dow Jones Industrial Average gained 215.80, or 1.6 percent, to 13,306.64, its highest level since December 2007.

Oil prices rose on Friday in volatile trading after a disappointing U.S. August jobs report weakened the dollar and bolstered expectations for stimulus from the U.S. Federal Reserve, even while denting the outlook for petroleum demand. The U.S. dollar sank against major currencies on Friday and gold prices jumped to a six-month high as anemic American jobs growth fueled investor bets that the Federal Reserve will launch another round of monetary stimulus for the world's biggest economy, perhaps as soon as next week. Commodities rose broadly on Friday as the dollar fell to a near four-month low against the euro after disappointing U.S. job data. (Reuters)

FKLI’s downside spiral was halted last Friday due to strong regional performance following ECB plan to extend their bond buying programme. Today’s support and resistance will be located around 1605 and 1625 respectively.