Daily Market Report (12 Feb 2020)

  • Dow Jones were flat while Nasdaq & S&P 500 continued breaking new highs as markets digest Federal Reserve’s Jerome Powell preliminary assessment on the coronavirus impact to US economy and markets.
  • Donald Trump named the four tech giants Microsoft, Apple, Google and Amazon part of trillion-dollar club MAGA, Making America Great Again.
  • This is expected to see continued focused on tech sector while regional markets are likely to continue trending higher.
  • On the local front, FBM KLCI may see continued technical rebound and with resistance level at 1,560 level on the back of proposed stimulus plan by the govt.