*_15th November 2021_**Dow Jones* : 36,100.31⬆️ 179.08 / 0.50%*Nasdaq* : 15,860.96⬆️ 156.68 / 1.00%_ Stocks advance, J&J shares gain after breakup announcement_*GOLD PRICE* : 1,864.90⬆️ 2.70 / 0.14%*WTI CRUDE OIL* : 80.70⬇️ 0.52 / 0.64%*BRENT OIL* : 81.95⬇️ 0.69 / 0.83%*USD/MYR* : 4.15*CORPORATE NEWS*•* Top Glove Corp Bhd* said the maximum amount of funds to be allocated by the rubber glove manufacturer for its proposed renewal of share buy-back authority will be made wholly out of the company’s retained profit which stood at RM2.49 billion as of Aug 31, 2021. Its managing director Datuk Lee Kim Meow said in its share buy-back statement on Friday (Nov 12) that the renewal of share buy-back authority will be funded by Top Glove’s internally-generated funds and external borrowings.•
GOLD_, H4: Gold price was traded lower following prior retracement from 1828.40. MACD which illustrate diminished upward momentum suggests gold price to be traded lower in short-term. Resistance level: 1828.40, 1841.80 Support level: 1818.90, 1804.10 As the market expects inflationary pressure to rise rapidly as global economy recovers from Covid-19 pandemic, investors shifted their portfolio from risky assets into safe-haven gold. In the US, supply chain disruption, raw material shortages and ongoing stimulus from US government is expected to lift inflation rate further. Last Friday, the US Congress has approved a $500 billion infrastructure plan which is expected to create more jobs that may reflect higher consumer spending and inflation rate in the near-term. However, Fed Chair Jerome P
Dow jumps 200 points to a record on strong jobs reportU.S. stocks rallied to record levels on Friday after the October jobs report came in better than expected, boosting optimism about the economic recovery.A major development from Pfizer regarding its easy-to-administer Covid-19 pill fueled hope for a smooth reopening further, sending shares of airlines and cruise line operators soaring.
Dow jumps 200 points to a record on strong jobs reportU.S. stocks rallied to record levels on Friday after the October jobs report came in better than expected, boosting optimism about the economic recovery.A major development from Pfizer regarding its easy-to-administer Covid-19 pill fueled hope for a smooth reopening further, sending shares of airlines and cruise line operators soaring.