Daily Market Report (8 March 2021)
- US equities rebounded sharply following a better than expected job data as treasury yield eased. All three major indices ended in positive territory after a wild session as the DJI Average gained 570 points after losing 150 points at one point.
- Meanwhile, with the US$1.9 trillion relief package gainning traction over the weekend, we reckon regional markets will trend higher today.
- On the local front, the FBM KLCI which broke the 1,600 mark last Friday should trend higher as we anticipate the index to hover around the 1,610/20 range today from broad based buying.
- Crude oil prices continued with its solid run with the Brent crude as expected has surpassed the US$70/barrel level which should put O&G stocks in the limelight today.
