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.
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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
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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
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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.
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Boon:
CIMB Trading Ideas 18/10/2016
1) KSSC
2) A-Rank
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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
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Views – 276
Analysis 19/10/2016
Market News Roundup
1⃣ Top Glove is targeting to grow its sales volume by 10% per year. It expects the growth to be driven by its capacity expansion, which is in the pipeline.
2⃣ Pasdec has proposed to reduce halve of the par value, rights issue to raise up to RM34.32m and also intends to buy office units worth a combined RM40m, via issuance of new shares.
3⃣ SDred is disposing of 16 pieces of freehold land in Damansara Heights, KL, which collectively measures 15,751 sq m, for RM71m cash.
4⃣ HTPadu has accepted a purchase order worth RM14.86m from Prudential Services Asia SB for disaster recovery services and office rental services.
5⃣ TGOFFS plans to acquire RM9.8m freehold single-storey detached factory in Hulu Langat, Selangor, to save on rental and improve its corporate image.
6⃣ DBE has proposed to undertake a bonus issue of up to 2.34b free warrants to reward its existing shareholders.
7⃣ DBhd will develop the 1Malaysia Civil Servants Housing (PPA1M) project in Putrajaya. The project has a GDV of RM467.3m.
Financial Result Highlight
Pantech saw its net profit plunge 51% to RM5.14m (0.84 sen/share) for 2QFY17, due to weak demand in O&G sector, while competition had pressured margins.
Sources: theedgemarkets.com ; thestar.com
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TraderL:
STOCK TO WATCH ❤( 19/10/16, Wednesday)
1.) ENGTEX / KUB
2.) JTIASA / KIMLUN
3.) RCECAP / SALUTE
4.) EKOVEST /S CGM
5.) PENTA / SAMCHEM
-> This should not be used as decision to solicit buy or sell activity, please do consult your licensed investment advisor.
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The Trusted Bursa Analyst:
Wednesday 19/10/2016:
Today we see a lot of Steel counters such as ( CSCSteel, Prestar, Chuan, Engtex ), Technology Sector (KESM , SALUTE, MYEG, HLIND ), Plantation ( SIME, IJMPLANT, FGV ) and Construction Sector ( Gadang, Suncon, IJM, Ekovest, PRARAS) MOVED STRONGLY.
We should focus on these as these are most likely included in Budget 2017. While the Foreign Fund is here we should Hoot their money !
Stocks to watch are:
IREKA: Entry 0.68-.69 ,Support 0.65, TP 0.725
Sedania : Entry 0.24-0.245 Support 0.23, TP 0.265
KUB : Entry 0.41-0.415 Support 0.395, TP 0.445
Follow Your Trusted Bursa Analyst Channel for stockpicks and daily update.
https://telegram.me/TTrustedBA
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Logic Trading Analysis Channel:
BURSA MALAYSIA MARKET IDEAS WEDNESDAY (19/10/2016):
FBMKLCI STAGE A STRONG REBOUND AGAIN
Dear All,
The FBMKLCI closed higher at +13.86 point or +0.84% to close at 1667.57.
FBMKLCI stage a strong rebound again turn the downtrend back to sideways movement. Amazingly our market become stronger however remain full of doubt. We will see after BUDGET 2017 this Friday how the market move.
DJIA also rebound from low of near 18000 but remain a sideways movement that still need to becareful. Anyway if DJIA close positively, definitely our market will get exicted.
Stock we see further up are like: AAX, AIRASIA, TUNEPRO, LIIHEN, IQGROUP !
The market is full of swing, if have time monitor still got some opportunity around!
Follow us closely !
https://telegram.me/ltachannel !
You will never reach your destination if you stop and throw stones at every dog that barks this Wednesday ! !
“Goreng Tetap Goreng” !
Yours Sincerely,
Logic Trading Analysis
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Reuters-Wall Street advanced on Tuesday to give the S&P 500 its best day this month on the heels of solid earnings reports from names such as UnitedHealth and Netflix that put corporate profits on track to snap a four-quarter streak of declines.
Of the 52 S&P 500 companies that have reported results to date for the third quarter, 81 percent have reported earnings that topped average analyst estimates, according to Thomson Reuters I/B/E/S.
Third-quarter earnings are now expected to show growth of 0.2 percent, which would mark an end to the U.S. profit recession that began in the third quarter of 2015.
If the quarter stays on track, it will be the first time since the fourth-quarter of 2014 in which both earnings and revenue of S&P 500 companies increased.
“We had some decent earnings results,” said Jack Ablin, chief investment officer at BMO Private Bank in Chicago.
“Given companies’ track record of beating expectations, investors believe this will be the first quarter in five where we have positive earnings growth.”
The Dow Jones industrial average .DJI rose 75.54 points, or 0.42 percent, to 18,161.94, the S&P 500 .SPX gained 13.1 points, or 0.62 percent, to 2,139.6 and the Nasdaq Composite .IXIC added 44.01 points, or 0.85 percent, to 5,243.84.
Gains were broad, with each of the 11 major S&P sectors in positive territory, led by a 1.1 percent gain in healthcare .SPXHC, boosted by a UnitedHealth’s (UNH.N) 6.9 percent jump after quarterly results and forecast.
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KLSE StockAlliance:
19/10/2016 Stock Picks
1. MFCB / AFG / ENGTEX
2. FFHB / IREKA / GLOMAC
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.
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Dear RHB Value Client,
Potential stock to buy today:
Date/日期 : 19/10/2016
1. OWG (5260)
Price/现价 : 2.36
Target price/目标价: 2.50/2.75
Cut loss/止损价 : 2.11
** Non syariah
Sector/领域: Trading/Services
2. EKOVEST (8877)
Price/现价 : 2.12
Taret price/目标价: 2.38
Cut loss/止损价 : 1.90
** syariah
Sector/领域: Construction
3. AAX (5238)
Price/现价 : 0.41
Target price/目标价: 0.48
Cut loss/止损价 : 0.375
** Non syariah
Sector/领域: Trading/Service
Views – 245