Positive vibe from Wall Street expected to lift shares
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AFTER a week of range bound trading, the benchmark Straits Times Index is likely to start the trading week (a shorter week because of Good Friday) on higher ground - taking the cue from last Friday's Wall Street rally.
The Dow Jones Industrial Average closed 1.0 per cent up at 26,412.30 on Friday. The broad-based S&P 500 advanced 0.7 per cent to 2,907.41, its first close above 2,900 in more than six months, while the tech-heavy Nasdaq Composite Index climbed 0.5 per cent to 7,984.16.
On the performance of the New York Stock Exchange, SPI Asset Management head of trading and market strategy, Stephen Innes, told The Business Times that it was such an encouraging performance in US equity market that it's hard for investors not to be enthusiastic.
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