Dow Jones: 17,891.16 pts (+117.52pts, +0.66%)
Wall Street rebounded after a sharp weekly decline last week led by banks and Amazon.com jumped for a second day amid better-than-expected earnings. Meanwhile, U.S. March construction spending rose 0.3%

FBM KLCI: 1,672.72 pts (-2.04pts, -0.12%)
Selling activities were noted on the FBM KLCI last Friday, however bargain hunting activities emerged and limited the losses for the day, forming a hammer candle above the 1,660 support level. The key index may rebound higher towards 1,700.

Crude Palm Oil: RM2,593 (-RM8, -0.31%)
After dropping below the psychological level of RM2,600, CPO may continue its correction phase lower towards the RM2,500 level.

WTI Crude Oil: $44.78 (-$1.14, -2.48%)
Crude oil retreated from a 6-month high after Iraq's exports approached a record high in April, adding barrels to a worldwide supply glut. 

Gold: $1,291.55 (-$1.98, -0.15%)
As expected, gold surged towards the $1,300 level for the first time since January 2015 as investors speculated that the central banks from the U.S. to Europe will maintain low interest rates over the near term.

Economic Releases:
Eurozone - Eurostat PPI Eurozone Industry - 3 May 16, 5:00PM
US - New York Purchasing Managers Current Business Conditions - 3 May 16, 9:45PM
US - US IBD/TIPP Index of Economic Optimism - 3 May 16, 10:00PM

Bursa Malaysia Trade Statistics - 29Apr16
Institutions:  Net BUY 60.5 mln (-17.3%)
Retail:  Net BUY 14.8 mln (67.7%)
Foreign:  Net BUY 24.7 mln (-50.4%)

Potential Momentum Stocks (03 May 16):
Stock Name: EMETALL (7217)
Entry: Buy around RM0.35
Target: RM0.42 (18.6%), RM0.45 (28.6%)
Stop: RM0.32 (-8.6%)
Technical: Breakout above RM0.34

Stock Name: KANGER (0170)
Entry: Buy around RM0.215
Target: RM0.25 (16.3%), RM0.28 (27.9%)
Stop: RM0.195 (-9.3%)
Technical: Potential flag formation breakout

Source: Bloomberg, M+ Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.