Daily Markets Briefing: STI down 0.38%

Wall Street's rebound could fuel gains today.

The Straits Times Index ended 11.66 or 0.38% points lower at 3,041.31.

The top active stocks were DBS, which dipped 0.24%, OCBC, which slipped 0.08%, UOB, which rose 0.15%, Singtel, which closed unchanged, and Genting Sing, with a 0.02% fall.

The FTSE Mid Cap Index slipped 0.70% whilst the FTSE Small Cap Index climbed 1.02%.

According to OCBC Investment Research, stocks closed higher, with the Dow Jones Industrial Average rallying nearly 550 points on upbeat earnings and robust economic data, marking the biggest one-day percentage gain for major indexes since late March.

All eleven S&P 500 industries ended higher, led by Information Technology (3.02%) and Healthcare (2.90%).

"The rebound on Wall Street overnight is likely to provide a lift to local sentiment today," OCBC Investment Research said.

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