Dow Jones: 23,433.16 pts (+746.94pts, +3.29%)
U.S. stockmarkets closed sharply higher as the Dow surged 3.3%, boosted by the dovish comments from the U.S. Federal Reserve Chairman, Jerome Powell comments on interest rate hike outlook. The immediate resistance is located at 24,000.
FBM KLCI: 1,669.78 pts (-6.05pts, -0.36%)
The FBM KLCI (-0.4%) reversed some of its previous session gains on weakness in selected in index heavyweights. The immediate resistance is located at 1,700.
Crude Palm Oil: RM2,172 (+RM21, +0.98%)
Crude palm oil prices rebounded, taking cue from the higher soybean oil prices. The immediate support is located around RM2100.
WTI Crude Oil: $47.96 (+$0.87, +1.86%)
Crude oil prices recorded its fifth straight session of gains, lifted by the positive outlook from OPEC's production cuts. The immediate resistance is located at US$50.
Gold: $1,286.05 (-$8.23, -0.64%)
Gold prices halted a six-day winning streak as demand of safe haven assets dwindled. The immediate resistance is located around $1,300.
Economic Releases:
JP - Japan's Nikkei Services PMI, 8.30AM
EU - Eurozone's Retail Sales, 6.00PM
US - United States' ISM Non-Manufacturing PMI, 11.00PM
Potential Momentum Stocks - 7 Jan 19
Stock Name: GFM (0039)
Entry: Buy above RM0.45
Target: RM0.485 (7.8%), RM0.51 (13.3%)
Stop: RM0.42 (-6.7%)
Shariah: Yes
Technical: Monitor for breakout
Stock Name: OPENSYS (0040)
Entry: Buy above RM0.295
Target: RM0.315 (6.8%), RM0.33 (11.9%)
Stop: RM0.275 (-6.8%)
Shariah: Yes
Technical: Resistance breakout
Source: Bloomberg, M+ Online
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