Dow Jones: 17,651.26 pts (-99.65pts, -0.56%)
Wall Street declined to three-week low as investors maintained cautious over the slower economic growth; ADP reported U.S. firms added 156,000 jobs in April vs the estimated figure of 195,000. Meanwhile, dollar strengthened for a second day after falling to the lowest in almost a year. 

FBM KLCI: 1,657.58 pts (+6.14pts, +0.37%)
The FBM KLCI rebounded and snapped the seven-day negative streak and ended near the 1,660 resistance level. However, tracking the performance from the overnight Dow, selling activities might resume for the upcoming session. Support will be pegged around 1,630.

Crude Palm Oil: RM2,616 (+RM77, +3.03%)
Crude palm oil prices rose strongly as traders covered short positions after a four-day losing streak on the back of weaker Ringgit (3.9932).

WTI Crude Oil: $43.78 (+$0.13, +0.30%)
Crude oil climbed marginally amid concern over supply cuts in Canada due to wildfires. Meanwhile, Energy information Administration showed that U.S. crude inventories increased by 2.78 mln barrels to 543.4 mln barrels in the week ended April 29. 

Gold: $1,279.68 (-$6.82, -0.53%)
Gold extended its pullback over the past three trading days towards the immediate support of $1,271 and could be forming a continuation pattern towards the $1,300 level.

Economic Releases:
China - Caixin China Services PMI - 5 May 16, 9:45AM
US - US Initial Jobless Claims SA - 5 May 16, 7:30PM

Bursa Malaysia Trade Statistics - 04 May 16
Institutions:  Net BUY 197.8 mln (53.5%)
Retail:  Net BUY 19.5 mln (15.8%)
Foreign:  Net SELL 217.3 mln (30.7%)

Potential Momentum Stocks - 05 May 16
Stock Name: DUFU (7233)
Entry: Buy around RM0.50
Target: RM0.54 (7.0%), RM0.59 (18.0%)
Stop: RM0.47 (-6.0%)
Technical: Potential breakout

Stock Name: MAYBULK (5077)
Entry: Buy around RM0.845
Target: RM0.950 (12.4%), RM1.000 (18.3%)
Stop: RM0.780 (-7.7%)
Technical: Oversold and bullish engulfing 

Source: Bloomberg, M+ Online

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