Daily Market Report (13 April 2022)
- Wall Street closed lower after a strong opening as the consumer price for March came in higher than expected and at its highest since 1981.
- The DJI Average lost 88 points while the Nasdaq was down by 40 points.
- On the home front, sentiments remained jittery amid the weak regional performance as the FBM KLCI ended below the 1,600 level again.
- For today, we would expect the index to trend within a tight range of between 1,590-1,600.
- Meanwhile, the Brent crude rebounded to US$105/barrel as concerns over the supply side re-emerged.
