Daily Market Report (15 July 2022)
- US stocks staged a late rally as the broader market closed off their lows despite traders remained concern over inflation and weaker corporate results.
- The DJI Average declined by 143 points while the Nasdaq eked out a 4 point gain with the US 10-year yield edged higher at 2.96%.
- At home, the FBM KLCI ended higher due to some bargain hunting activities and expect the buying to continue thus anticipate the index to trend between the 1,415-1,430 range today.
- Meanwhile, the Brent crude was marginally lower at US$99.10/barrel on concerns of more interest rate hikes.
