Daily Markets Briefing: STI down 0.03%

Don’t expect gains today.

The Straits Times Index (STI) ended 1.04 or 0.03% lower at 3,392.29.

The top active stocks were DBS, which grew 0.47%, UOB, which went down 0.29%, OCBC Bank, which crashed 1.48%, CapitaLand, which jumped 1.98%, and YZJ Shipbldg SGD which fell 0.64%.

The FTSE Mid Cap slipped 0.05% whilst the FTSE Small Cap declined 0.24%.

According to OCBC Investment Research, the Nasdaq on Friday closed at a record, and the S&P 500 narrowly missed its own, as investors bought stocks following an April employment report that came in hotter than expected, underscoring consistent labor-market strength.

All eleven S&P 500 industries ended higher, led by Consumer Discretionary (1.40%) and Industrials (1.24%). The index advanced 3.93% for the month.

“Despite the gains on Wall Street Friday, investors are likely to remain cautious today amidst the trade war concerns,” OIR said.