Daily Morning Note – 9 Sept 2019
WEEKLY MARKET OUTLOOK WEBINAR
Please not that there will not be any Monday webinar next week, 16 September 2019. It will resume on the 23rd of September. .
Archived webinars available.
Stocks closed little changed on Friday after the release of disappointing jobs data, but posted back-to-back weekly gains on optimism around U.S.-China trade relations.
The Dow Jones Industrial Average ended the day up 0.3% at 26,797.46. The S&P 500 climbed just 0.1% to close at 2,978.71 while the Nasdaq Composite slipped 0.2% to 8,103.07.
For the week, the Dow and S&P 500 both gained at least 1.5% while the Nasdaq climbed 1.8%. Those gains came amid hopes that the world’s two largest economies could soon make substantial progress in de-escalating their protracted trade dispute.
Liu He, the country’s top trade negotiator, spoke by phone with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. They agreed to meet in early October for another round of trade negotiations, according to the Chinese Commerce Ministry.
The U.S. economy added 130,000 jobs in August, the Labor Department said Friday. This marked the third straight monthly slowdown in jobs growth.
Tiong Seng clinches $287mn deal from JTC to build an industrial building.
Del Monte swings to US$38.3mn loss in 1Q on lower revenue.
Keppel Pacific Oak US REITagreed to acquire an office complex in Dallas for US$101.5mn.
Thailand announced a relocation package to attract foreign companies looking to move production due to US-China trade tension.
Japan’s economy grew an annualised 1.3 per cent in April-June, less than the initial estimate of a 1.8 per cent expansion, revised data from the Cabinet Office showed on Monday.
Pro-democracy activists jammed Hong Kong, streets in a march to the United States consulate on Sunday in a bid to ramp up international pressure on Beijing, but hardcore protesters later clashed with riot police across the city’s core.
United Arab Emirates’ Minister of Energy and Industry Suhail al-Mazrouei said on Sunday that Opec and non-Opec producers are “committed” to achieving oil market balance.
Mainboard-listed engineering group TEE International is appointing an external third party independent investigator to look into unauthorised transactions totalling S$6.55 million made by its subsidiaries to related parties.
Source: The Business Times
Recommended Action: Technical SELL
Ascendas REIT (SGX: A17U) met our price expectations based on our 12th of July report. However, the bullish trend is facing some resistance. We believe the REIT is entering into a corrective phase
Webinar Of The Week
Date: 03 September 2019
Phillip Research in 3 minutes: #13 – Real Estate Agencies Sector
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