Daily Markets Briefing: STI up 0.39%

Expect mild gains today.

The Straits Times Index (STI) ended 0.39% higher at 3,038.65.

According to OCBC Investment Research, U.S. stock indexes ended mostly higher Wednesday, with the S&P and Nasdaq recapturing a small share of the of the ugly losses accumulated Monday and Tuesday, led by the same growth technology stocks which had been a main driver of market’s recent woes.

Seven of eleven S&P 500 industries ended higher. The best performers were Energy (1.58%) and Consumer Discretionary (1.00%) while the worst performers were Utilities (-1.48%) and Consumer Staples (-0.83%).

"With today’s tone likely to improve, we could potentially see the STI inching higher in the direction of the 3060 key hurdle. Above it, we peg the next hurdle at 3140," added OIR.