Daily Market Report (21 April 2022)
- Wall Street ended on a mixed note as buyers emerged buoyed by a set of solid earnings but technology stocks were hammered attributed to a steep plunge in Netflix.
- As a result, the DJI Average gained 250 points while the Nasdaq declined by 166 points.
- Meanwhile, the US 10-year yield eased marginally to around the 2.85% mark.
- Back home, the FBM KLCI finally reversed its downtrend to close above the 1,590 level due to some bargain hunting activities.
- For today, we reckon buying to continue and expect the index to trend within the 1,590-1,605 range.
- Crude oil prices remained stagnant as the Brent crude stays at US$107/barrel.
