Daily Markets Briefing: STI down 0.49%

Expect Wall Street's poor showing to weigh further on the market.

STI ended 14.11 points or 0.49% lower to 2856.13 on Tuesday, taking the year-to-date performance to -0.92%.

OCBC said this came as US stocks closed lower, with sentiment being hit by aluminium giant Alcoa Inc’s disappointing results.

All S&P 500 industries closed their day disappointed, with Health Care and Materials leading the declines.

Meanwhile, oil prices dipped and the dollar remained strong.

This poor showing on Wall Street would likely weigh further on the local bourse today, and extending STI’s 0.49% pullback, the brokerage firm noted.

Here's more from OCBC:

Nov WTI Crude lost 56 cents, or 1.09%, to close at US$50.79/barrel while Dec Brent was down 73 cents, or 1.37%, to end at US$52.41/barrel.

Gold for Dec delivery dropped US$4.50, or 0.36%, to close at US$1255.90/ounce while Dec Silver slipped 15 cents, or 0.85%, to settle at US$17.509/ounce.

Overall volume gained 20% with 2.9b units traded, and the total value jumped 63% to S$1.0b; while average value/unit rose 36% to S$0.34.

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