Daily Market Report (19 April 2021)
- Wall Street closed broadly higher buoyed by a solid set of corporate earnings and signs that an economic recovery is on track.
- The DJI Average added 164 points to close above the 34,200 mark whilst the S&P 500 is closing in on the 4,200 level with a gain of 15 points.
- Though the regional markets are expected to improved today, a look at the weak US futures may just curtail any strong improvements.
- On the local front, we reckon the FBM KLCI to again trend within a tight range in the absence of any buying catalysts.
- Though we noticed some nibblings by the foreign funds, we doubt it is sustainable.
- Therefore, we expect the index to hover within the 1,602-1,612 range today.