Daily Market Report (6 April 2022)
- Wall Street retreated as the Federal Reserves reiterated a more aggressive approach to its tightening policy.
- As a result, the DJI Average declined by 280 points while the Nasdaq saw an even steeper 328 points loss as the US 10-year yield crossed above the 2.55%.
- On the home front, the FBM KLCI ended lower as sentiments remained on cautious mode.
- For today, we reckon the index to stay stuck within a tight trading range of between 1,590-1,600.
- Meanwhile, Brent crude price remains elevated at around US$107/barrel on concerns over the supply side.
