Bursa Malaysia could be seeing some positive spillover from Wall Street markets following the release of a US producer inflation report.
The FBM KLCI opened on a cautious note, barely moved at 1,605.75 as investors stayed on the sidelines while they digested the recent developments in the US.
Overnight, the technology-heavy Nasdaq climbed 0.75% to a new record of 16,511.18 points. The Dow Jones Industrial Average gained 0.32% to 39,558.11 while the S&P50...

$Uber Technologies (UBER.US)$ UBER is good, but no fuel left. I am now bearish on it for Q2-Q3 highly streached valuation, not comfortable at this level. I am cutting its target from $62 to $40. It will be a good buy between $40 to $43.

US stocks showed an uneven trend on Wednesday amid fluctuations in the earnings season. Although the Dow barely maintained five consecutive gains, setting a record for the longest continuous rise in more than four months, both the NASDAQ index and the S&P 500 index fell for a while. The stock prices of Disney and Palantir plummeted 9.5% and 15%, respectively, after the financial reports were announced. The latter recorded the biggest one-day decline in two years. Meanwhile, Reddit once surged nearly 20% in after-hours trading.
In the tech sector, Google closed up nearly 2% with positive dynamics after its new product launch, while Tesla fell nearly 4%. Chip stocks experienced a day of fluctuation, with Nvidia falling more than 3% during the intraday period. The European stock market performed well. The pan-European stock index hit a record high. After the financial report, UBS and Infineon rose 7.6% and nearly 13% respectively in the European stock market.
Apple launched the thinnest iPad Pro in history, equipped with an M4 chip, and iPad Air, Pencil, and Magic Control keyboards. Google snatched Apple to launch an affordable AI phone, selling the Pixel 8a for 499 US dollars, adding AI features without increasing the price. The new Pixel tablet costs 399 US dollars, which is a reduction in price compared to the previous generation.
The monetary policy outlook for the US economy is also the focus of market attention. The comments of the Minneapolis Federal Reserve Chairman suggest that the Federal Reserve may keep interest rates high for a longer period of time. This statement has further fueled market concerns that the US neutral interest rate may be higher than expected. As a result, the US dollar index reached a new high and continued to break away from its low level for more than three weeks. Compared to...

After the release of non-farm payrolls data last Friday, US stocks experienced a sharp rise on Friday. The three major indices all closed up more than 1%. Among them, the NASDAQ index rose nearly 2%, and the S&P 500 index recorded its strongest daily rise in two months. Apple's stock price surged 6%, the biggest increase in 17 months, while biotech company Amgen rose nearly 12%. Despite the overall strong performance of chip stocks, AMD was still down more than 4% during the earnings week. The energy sector, on the other hand, has accumulated a decline of more than 3% this week, reflecting market concerns about this sector.
The US non-farm payrolls report for April showed that the number of employed people increased by 175,000, far below market expectations. The unemployment rate rose slightly to its highest point in nearly a year and a half, while wage growth also slowed. This slowdown in the labor market was interpreted by the market as being beneficial to controlling inflation, causing traders to advance the Federal Reserve's first rate cut from November to September. After the release of the non-agricultural data, US Treasury yields declined markedly, the US dollar index also hit a three-week low, and the yen rebounded sharply in the intraday period.
Meanwhile, Warren Buffett's Berkshire Hathaway Shareholders' Meeting was held in 2024. The company announced a 39% year-on-year increase in operating profit for the first quarter, a new high in cash reserves, and a $2.6 billion share buyback during the quarter. Buffett hinted at the meeting that the reduction in Apple's stock holdings is to avoid the high tax rates it may face in the future. Although some Apple shares have been reduced, Apple is still one of its biggest investments.
The price of crude oil fell for five consecutive days this week, with a cumulative drop of nearly 7%, a record...