S&P Market News Update

U.S. stocks rallied at the end the day Tuesday, sending the benchmark S&P 500 to its highest close this year, during what was another characteristically volatile day for equities.

The S&P 500 SPX, +1.07%  closed 21.84 points, or 1.1%, higher at 2,068.58 and turned positive for the year. Nine of the 10 main sectors finished higher, while energy-sector stocks ended with modest losses, following a drop in oil prices.

KLSE Stock Recommendations

MARKET UPDATES :

The FBM KLCI index lost 0.46 points or 0.03% on Tuesday. The Finance Index increased 0.23% to 15915.65 points, the Properties Index dropped 0.28% to 1305.23 points and the Plantation Index down 0.06% to 8013.23 points. The market traded within a range of 7.93 points between an intra-day high of 1816.62 and a low of 1808.69 during the session.



STOCK RECOMMENDATION :

BUY SAPURA KENCANA ABOVE 2.935 TARGET 2.985 3.085 SL 2.875

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices held mostly flat on Wednesday in Asia with Greece firmly in focus and China data ahead.Greece’s Parliament approved the government’s economic plan in a vote late Tuesday that sets up a showdown with country’s international creditors beginning this week in Brussels.With 162 ‘yes’ votes against 137 ‘nos’ with one absentee lawmaker, Prime Minister Alexis Tsipras earned approval for a plan that rolls back many of the austerity measures agreed by the former government of Antonis Samaras.



TRADING STRATEGY :

BUY GOLD ABOVE 1240 TARGET 1245 1251 SL 1234
SELL GOLD BELOW 1228 TARGET 1223 1217 SL 1234

Platinum Market Update

 

Platinum for April delivery PLJ5, +0.53%  fell $13.10 to end at $1,207.30 an ounce, while March palladium PAH5, +0.86% lost $13.95 to $765.70 an ounce. High-grade copper for March delivery HGH5, -0.16%  settled down 3 cents to $2.552 a pound.

Gas Market Update

March natural gas NGH15, +0.60% was the lone gainer among key energy futures, tacking on 8 cents, or 3.1%, to $2.677 per million British thermal units ahead of a weekly U.S. supply update due Thursday.