Wall St to lift STI; eyes on US-China trade talks
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THE benchmark Straits Times Index (STI) is likely to take its cue from a positive session on Wall Street after better than expected April jobs data left investors upbeat about the US economic outlook and interest rate environment.
Stephen Innes, SPI Asset Management's head of trading and market strategy said that the jobs report suggested that the "US economic engine continues to fire on all cylinders, with inflation remaining mute".
On Friday, the Dow Jones Industrial Average rose 197.16 points, or 0.75 per cent, to 26,504.95; the S&P 500 gained 28.12 points, or 0.96 per cent, to 2,945.64, and the Nasdaq Composite Index added 127.22 points, or 1.58 per cent, to 8,164.00.
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