Daily Markets Briefing: STI up 0.31%

Expect some gains today.

The Straits Times Index (STI) ended 10.95 points or 0.31% lower to 3537.59, taking the year-to-date performance to +3.96%.

The top active stocks were DBS, which gained 0.28%, Singtel, which declined 0.57%, UOB, which declined 0.96%, OCBC Bank, which declined 0.08% and Venture, with a 0.56% advance.

The FTSE ST Mid Cap Index gained 0.22%, whilst the FTSE ST Small Cap Index rose 0.04%.

OCBC Investment Research noted that US stocks closed solidly higher on Thursday, with equities advancing in a broad rally that gave the Dow Jones Industrial Average its longest winning streak since February.

All eleven S&P 500 industries ended higher, led by Telecommunication Services (1.91%) and Utilities (1.35%).

"Continued gains on Wall Street overnight after the latest healthy economic data could bring some cheer to the local bourse today," OIR said.