Reuters-U.S. stocks closed higher on Monday, with the S&P 500 hitting a two-week high on the back of strong earnings and a flurry of deal activity, while the U.S. dollar hovered near a nine-month peak against other world currencies.
However, Canada’s main stock index unofficially closed 0.11 percent lower .GSPTSE as oil and gold prices weighed on shares of energy and mining companies, offsetting gains by financial firms.
Merger and acquisition activity spurred Wall Street, headed by Saturday’s announcement by telecommunications company AT&T Inc (T.N) that it plans to buy Time Warner Inc (TWX.N) for $85.4 billion in what would be the world’s biggest deal this year.
Strong quarterly earnings also boosted investor confidence. Third-quarter earnings are expected to increase 1.1 percent after four consecutive quarters of contraction, according to Thomson Reuters data.
More than a third of the S&P 500 components are scheduled to report earnings this week, including heavyweights such as Apple (AAPL.O) and Boeing (BA.N).
“Consensus is earnings are going to continue to improve in part due to favorable energy prices and to strong consumption patterns here in the U.S.,” said Chad Morganlander, portfolio manager at Stifel Nicolaus in Florham Park, New Jersey.
The Dow Jones industrial average .DJI rose 77.32 points, or 0.43 percent, to 18,223.03, the S&P 500 .SPX gained 10.17 points, or 0.47 percent, to 2,151.33 and the Nasdaq Composite .IXIC added 52.43 points, or 1 percent, to 5,309.83.
The greenback rose on expectations of a Federal Reserve interest rate increase in December.
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Tj:
For 25 October .. Tuesday
iigg 7 daily stocks to watch
Ibhd
Johan
MHC
Mmsv
Opcom
Sime
Umw
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Logic Trading Analysis:
BURSA MALAYSIA MARKET IDEAS
TUESDAY (25/10/2016):
FBMKLCI TURN UP AFTER BUDGET
Dear All,
The FBMKLCI closed higher at +7.78 point or +0.47% to close at 1677.76.
FBMKLCI yesterday doing pretty strong push up and break up from sideways, if this momentum can resume, we can see more stock pushing up.
DJIA still within big sideways correction range, nothing much to talk about, as long as DJIA close green, it will for sure give better goreng sentiment to our local market.
As for today, we are highly focus on AIRASIA, AAX, TUNEPRO, OWG.
The swimmer that remain in the pool will get the pie this Tuesday!
“Goreng Tetap Goreng” !
Yours Sincerely,
Logic Trading Analysis
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TheBursa Analyst:
Tuesday 25 October:
With the Iraqis behaving like this, the OPEC deal will face another problem. This OPEC is bringing a lot of traders and investors alike for a ride of rollercoaster. Congrats if you have earned from it.
WITH Palm oil prices on the rise, and Crude oil prices facing some problem we will see a shift of attention from the Oil and Gas Counters to Palm Oil related counters
Stocks to pay attention are:
Palm Oil : INNO, CEPAT, FGV, MHC
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KLSE StockAlliance:
25/10/2016 Stock Picks
1. COASTAL / ECS / MFCB
2. UCHITEC / SASBADI / SUNSURIA
3. TPC / AMFIRST / MMSV
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M+ Online Morning Buzz – 25Oct16
Dow Jones: 18,145.71 pts (+77.32pts, +0.43%)
U.S. equities trended mildly led by tech and consumer staples stocks, coupled with the anticipation of better-than-expected corporate results. The Dow’s trading range is likely to be seen around 18,000-18,400.
FBM KLCI: 1,677.76 pts (+7.78pts, +0.47%)
The FBM KLCI surged above the 1,670 level after Budget 2017 – construction-related stocks trended higher, while small and mid-cap companies were gaining buying interest as well. The FBM KLCI’s resistance will be envisaged around 1,700.
Crude Palm Oil: RM2,724 (+RM98, +3.60%)
Crude palm oil rocketed towards a fresh two-year high as output declined 11.2% M.o.M, according to MPOB. CPO may trend higher towards RM2,850-RM2,900 on sustained buying momentum.
WTI Crude Oil: $50.85 (+$0.06, +0.12%)
Crude oil extended its sideways consolidation phase as traders are cautious ahead of the OPEC meeting this week. Trading range is likely to be located around US$50-US$52.
Gold: $1,264.44 (-$1.97, -0.16%)
Gold trended lower on the back of stronger US dollar. Gold’s support will be set around the US$1,250 level.
Economic Releases:
US – S&P Case-Shiller House Price Index – 25Oct16, 9:00PM
US – Conference Board Consumer Confidence – 25Oct16, 10:00PM
Bursa Malaysia Trade Statistics – 24Oct16
Institutions: Net SELL 11.9 mln (60.5%)
Retail: Net SELL 23.6 mln (15.6%)
Foreign: Net BUY 35.5 mln (23.9%)
Potential Momentum Stocks – 25Oct16
Stock Name: SASBADI (5252)
Entry: Buy above RM1.20
Target: RM1.28 (6.7%), RM1.40 (16.7%)
Stop: RM1.15 (-4.2%)
Shariah: Yes
Technical: Breakout above RM1.20
Stock Name: BTECH (0011)
Entry: Buy above RM0.345
Target: RM0.385 (11.6%), RM0.42 (21.7%)
Stop: RM0.335 (-2.9%)
Shariah: No
Technical: Gapped up above RM0.345
Source: Bloomberg, M+ Online
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Uob Kay Hian Daily Top Pick, 25 Oct 2016
Btech, 0011
Close, 0.355
Buy TP, 0.395, 0.445
Breakout, 0.36
Support, 0.33
SL, 0.325
Time Frame, 2 Weeks to 2 Months
Pwroot, 7237
Close, 2.15
Buy, TP, 2.34, 2.54
Breakout, 2.17
Support, 2.05
SL, 2.04
Time frame 2 weeks to 2 months
Favco, 7229
Close, 2.40
Buy TP, 2.66, 2.79
Breakout, 2.43
Support, 2.30
SL, 2.29
Time frame, 2 weeks to 3 months
Thanks
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RHB♦Investment Bank Bhd
Dear My Value Clients,
Potential stocks to buy today:
Date/日期 : 25/10/2016
1) DESTINI(7212)
Price/现价 : 0.88
Target price/目标价: 1.00
Cut loss/止损价 : 0.80
**Syariah
Sector/领域: Trading/Services
2) GKENT(3204)
Price/现价 : 2.52
Target price/目标价: 3.00/3.25
Cut loss/止损价 : 2.53
**Syariah
Sector/领域: Trading/Services
3) NYLEX(4944)
Price/现价 : 0.715
Target price/目标价: 0.80/0.85
Cut loss/止损价 : 0.615
**Syariah
Sector/领域: Industrial Product
Source : RHB RESEARCH INSTITUT
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