Daily Market Report (8 July 2022)
- Wall Street staged a relief rebound ahead of key job reports as all 3 major indices closed higher.
- The DJI Average was up by 347 points while the Nasdaq gained 260 points despite the US 10-year yield inched higher to the 3% mark.
- At home, the FBM KLCI edged lower attributed to some late selling yesterday as sentiments remained cautious.
- However, we reckon some buying activities to emerge and expect the index to hover within the 1,415-1,430 range today.
- Meanwhile, crude palm oil closed marginally lower at RM3,946/tonne while the Brent crude ended higher at around US$105/barrel on concerns of a potential civil war in Libya.
