Daily Market Report (3 June 2021)
- Wall Street were stagnant as traders are looking ahead of job report this Friday.
- Nonetheless, all 3 major indices closed firmer with the S&P 500 hovering close to its record high. The DJI Average was up 25 points at 34,600.
- As trading on Wall Street remains muted, we reckon trading on the regional markets to be mixed today.
- Back home, the FBM KLCI performed credibly by closing above the 1,595 level.
- Hence, today we believe the index should test the 1,600 mark and trend within the 1,595-1,605 range today.
- Meanwhile, the Brent crude oil price continues to increase above the US$71/barrel.
