Daily Market Report (11 May 2022)
- It was another erratic day on Wall Street as sentiments were greatly influenced by recent downtrend ahead of inflationary data to be out today.
- The DJI Average was down 85 points while the Nasdaq gained 114 points as the US 10-year Treasury yield eased to below the 3% mark.
- On the home front, the FBM KLCI rebounded slightly from some bargain hunting activities thus we expect the index to hover within the 1,550-1,565 range today.
- Meanwhile, crude palm oil price ended lower due to higher inventory while crude oil prices also closed lower attributed to concerns over the lockdowns in China.