Daily Markets Briefing: STI up 0.22%

Expect some good news today.

The Straits Times Index (STI) rose 0.22% higher to 3520.56 today. 

According to OCBC Investment Research, US stock-market indexes closed at records on Friday and boosted weekly gains as investors remained bullish over the economy amidst the opening of fourth-quarter earnings season. 

Eight out of eleven S&P 500 industries finished higher, led by Consumer Discretionary (1.28%) and Energy (0.96%) whilst Real Estate (-0.72%) and Utilities (-0.55%) led the declines. The index advanced 1.57% for the week.

Overall volume shrank 25.1% with 2.4b units traded whilst total value added 19.8% to S$1.2b, and average value/unit jumped 60.0% to S$0.49.

“Continued strength on Wall Street Friday amid optimism in global growth could keep local sentiment buoyant today, potentially extending the STI’s gains in the previous session,” OCBC said.