Good day to youU.S. stocks fell, sending the Standard & Poor’s 500 Index to its biggest two-day tumble since April. Stocks rose in early trading as a better-than-estimated report on housing starts spurred a rally in homebuilders and commodity shares climbed with metal and oil prices.
Southeast Asian stock markets fell on Tuesday, worried about the pace of recovery in the global economy, with Singapore tumbling to near three-week lows 2.2% while stocks in Jakarta down 1.9% and Bangkok slid close to two-week lows 2.7%.
Many markets in Asia turned up slightly in late trade simply because investors took their lead from Dow Jones futures and oil prices. Markets will remain cautious in coming sessions as investors are less optimistic over the global recovery.
Crude oil was little changed as U.S. equities dropped and the dollar rebounded. Crude oil for July delivery fell 15 cents to settle at $70.47 a barrel. Tin advanced 0.3 percent to $15,100 a ton. Nickel gained 0.8 percent to $14,900 a ton.
I think investors need more clear evidence of growth to restart the market's rally. A pause in the rally is necessary for stocks to move higher. The market is overbought right now and what it needs to do is consolidate and it needs to have a series of days like this.
For today, I think our market still on consolidation with support 1998-2010 point index. We are still on defensive stock recommendation with high yield dividend.
We are still positive on TLKM, TINS, ANTM, INCO, BUMI, DEWA and BNBR. Buy on Weakness on the lower range index. Interesting on RALS?
“UP & DOWN THAT’S LIFE JUST SMILE BECAUSE IT HAPPENED”
[Personal Opinion ]
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DISCLAIMER: This report is issued by [BRIGHT INFO]. Although the contents of this document may represent the opinion of [BRIGHT INFO]. We cannot guarantee its accuracy and completeness.
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