Daily Morning Note – 28 Nov 2019
WEEKLY MARKET OUTLOOK WEBINAR
PHILLIP SUMMARY
Stocks edged up for a fourth straight day to score another round of records Wednesday, supported by rosier U.S. economic data and ongoing hopes for a U.S. – China trade deal, but Wall Street trading volumes were thinner than usual ahead of the Thanksgiving Day holiday Thursday.
The Dow Jones Industrial Average closed up 42.32 points or 0.15% at 28,164.00 for a record, while the S&P 500 gained 13.11 points or 0.42% to 3,153.63 and the Nasdaq ended up 57.24 points or 0.66% at 8,705.18.
Investors waded through a heavy round of U.S. economic data Wednesday, including a revised estimate of third-quarter GDP that showed the U.S. economy expanded at a 2.1% annual pace versus a previous estimate of 1.9%.
U.S. consumer spending rose in October for the eighth month in a row, a potentially good sign for the holiday shopping season that gets underway after Thanksgiving with Black Friday specials.
The Federal Reserve’s Beige Book also reported that U.S. businesses have seen continued growth in economic activity, wages and prices during recent weeks, and they maintain a generally positive outlook.
BREAKING NEWS
Wall Street stocks again hit new all-time highs on Wednesday following better-than-expected US economic data, finishing buoyantly in the week’s last full session of the holiday-shortened week.
ENECO Energy’s wholly-owned subsidiary RichLand Logistics Services has secured a two-year logistics contract with Schneider Electric Singapore. It will deliver Schneider Electric’s finished goods and components to their customers in Singapore.
PROPERTY investment and retail group Metro Holdings is launching its Metro LazMall store on e-commerce platform Lazada Singapore on Nov 29, the day on which the shopping event Black Friday falls.
HIAP Seng Engineering narrowed its losses to S$8.5 million from S$22.3 million for the second quarter ended Sep 30, 2019 on the back of higher revenue and lower operating costs.
THE Competition and Consumer Commission of Singapore (CCCS) is inviting feedback on the proposed commercial cooperation between the national flag carriers of Singapore and Malaysia.
WITH effect from Dec 2, Singapore Exchange (SGX) will replace the fixed rates for its securities borrowing and lending programme with variable and more competitive rates, which will benefit both borrowers and lenders, the local bourse said in a press statement on Wednesday.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
Webinar Of The Week
Market Outlook: : (PSR) Singapore Exchange Limited, Comfort Delgro, SATS & REITs Monthly
Date: 25 November 2019
Phillip Research in 3 minutes: #16- JEP Holdings Ltd
Updates summarised in 3 minutes
For more videos on Phillip in 3 Mins
| Disclaimer |
| The information contained in this email and/or its attachment(s) is provided to you for information only and is not intended to or nor will it create/induce the creation of any binding legal relations. The information or opinions provided in this email do not constitute an investment advice, an offer or solicitation to subscribe for, purchase or sell the e investment product(s) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of this information. Investments are subject to investment risks including possible loss of the principal amount invested. The value of the product and the income from them may fall as well as rise. You may wish to seek advice from an independent financial adviser before making a commitment to purchase or investing in the investment product(s) mentioned herein. In the event that you choose not to do so, you should consider whether the investment product(s) mentioned herein is suitable for you. PhillipCapital and any of its members will not, in any event, be liable to you for any direct/indirect or any other damages of any kind arising from or in connection with your reliance on any information in and/or materials attached to this email. The information and/or materials provided “as is” without warranty of any kind, either express or implied. In particular, no warranty regarding accuracy or fitness for a purpose is given in connection with such information and materials. |
| Confidentiality Note |
| This e-mail and its attachment(s) may contain privileged or confidential information, which is intended only for the use of the recipient(s) named above. If you have received this message in error, please notify the sender immediately and delete all copies of it. If you are not the intended recipient, you must not read, use, copy, store, disseminate and/or disclose to any person this email and any of its attachment(s). PhillipCapital and its members will not accept legal responsibility for the contents of this message. Thank you for your cooperation. |
