Reuters-Wall Street ended modestly lower on Monday as energy stocks retreated along with oil prices, while Amazon and Netflix weighed on the consumer discretionary sector.

Federal Reserve Vice Chairman Stanley Fischer warned that economic stability could be threatened by low interest rates and noted the central bank is “very close” to its employment and inflation targets, but said it was “not that simple” for the Fed to raise rates.

The comments from Fischer, a dove who has supported a rate hike, come as other Fed officials have recently said the current state of affairs may be about as good as it gets.

Conflicting statements on the timing of a rate hike from some Fed officials has been adding to uncertainty in markets, which have been grappling with changing dynamics in a tumultuous U.S. presidential election and nervousness regarding third-quarter earnings.

“Fischer’s stature is second only to Janet Yellen so when he speaks, people are going to pay closer attention to what he is saying,” said Art Hogan, chief market strategist at Wunderlich Securities in New York.

“To me, it is different slices of the same apple – we’ve got a Fed that desperately wants to raise rates one more time this year and that probably happens in December.”

Energy stocks .SPNY were 0.6 percent lower as U.S. oil prices CLc1 settled down 0.8 percent at $49.94 while Brent crude LCOc1 settled down 0.8 percent at $51.52 a barrel. Oil prices were weighed down by oversupply concerns, although losses were curbed amid a projected drop in American shale output.

The Dow Jones industrial average .DJI fell 51.98 points, or 0.29 percent, to 18,086.4, the S&P 500 .SPX lost 6.48 points, or 0.3 percent, to 2,126.5 and the Nasdaq Composite .IXIC dropped 14.34 points, or 0.27 percent, to 5,199.82.

++++++++++++

The Trusted Bursa Analyst
Today’s stock to watch are :

EG: (follow up from yesterday) expecting a pull back due to breakout without volume and market sentiment unstable. Entry at support : 0.87, Entry at breakout: 0.89. Support 0.855. Monitor closely if breakout.

Prlexus: Uptrend, Entry 1.60, Support 1.56, TP 1.72

WCT: Entry on breakout  1.71, Support 1.68, TP 1.80 at least. Remember Budget 2017 focus in on construction and I think this will be getting honey.

Hexza: Entry on breakout 0.965, support 0.94

Its Tuesday ! no more Monday Blue Please !

Follow Your Trusted Bursa Analyst Channel for stockpicks and daily update.

https://telegram.me/TTrustedBA

The Trusted Bursa Analyst
Trusted analysis of moving bursa stocks for your reference

++++++++++++++++

Logic Trading Analysis Channel,
BURSA MALAYSIA MARKET IDEAS TUESDAY (18/10/2016):

FBMKLCI SLOW MOVING AND DOWNTRENDING

Dear All,

The FBMKLCI closed lower at -5.26 point or -0.32% to close at 1653.71.

FBMKLCI slowly trending down, not a good sign. Becareful of before or after budget water fall. But all the direction much depends on DJIA movement. If DJIA stay strong, our downside will be supported as well.

DJIA movement same slowly trending down. Just be careful and monitor any big waterfall candle. If suddenly drop 150-300 point, will be more panic selling happens.

Market is not very strong movement, however still got some stock moving. Some of the better FA export stock like EVERGRN, HEVEA, LIIHEN, SUPERLN remain strong.

We will be extra cautious at the moment because this month market are very volatile.

Follow us closely !
https://telegram.me/ltachannel !

Life come to full circle when you see for yourself, a new life that you made this Tuesday !

“Goreng Tetap Goreng” !

Yours Sincerely,
Logic Trading Analysis

++++++++++++++==

KLSE StockAlliance:
18/10/2016 Stock Picks
1. HAIO / HEKTAR / GCB
2. PASDEC / EUPE / SYSCORP
3. Follow our channel closely during trading hours

Stock Alliance
The information contained in this channel is for general information purposes only. Any reliance you place on such information is therefore strictly at your own risk.
We hope to bring profit to everyone as we did in today.

++++++++++++

Boon:
CIMB Trading Ideas 18/10/2016

1) KSSC
2) A-Rank

++++++++++++

Good morning

Corporate News Roundup

1⃣ Yinson saw 119.71m shares traded off market today for RM367.5m.

2⃣ GPacket has proposed to undertake a private placement to raise up to RM14.5m for product and business development, future investments and working capital.

3⃣ KPJ plans to develop a piece of land in Batu Pahat, Johor into a RM67.6m hospital, to be known as KPJ Batu Pahat Specialist Hospital.

4⃣ Maypak minority shareholders have been urged by independent adviser Mercury Securities to reject a takeover offer from Japan-based Taisei Lamick Co Ltd.

5⃣ CIMB said it is negotiating a 50:50 JV in the stockbroking business with China Galaxy Securities Co Ltd.

6⃣ Nexgram has clarified that its Angkasa Icon City project in Cyberjaya has not been shelved, although construction works have yet to commence pending negotiations for financing.

Financial Result Highlight

Takaful recorded a 30% jump in its net profit to RM44.86m (5.47 sen/share) for 3Q, due to higher sales generated by both the family takaful and general takaful businesses.

Sources: theedgemarkets.com ; thestar.com

+++++++++++++

Views – 111

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Post Navigation