Morning Highlights

U.S. stocks were boosted by analyst upgrades, a jump in retail sales and reports showing improvement in jobless claims and productivity.

Singapore market started on a firm note following gains on Wall Street overnight on strong retail data. The STI gapped up 18.55 points to open at 2787.25.

Japan’s Nikkei also up 2.1% at 10,358 in morning trade after the Nikkei business daily reported that the Bank of Japan will likely consider even more monetary easing through April.

News Updates:

  1. According to a report released by the Commerce Department on, New Orders for Manufactured Goods increase for the 5th consecutive month, with up 1.7% in January following an upwardly revised 1.5% increase in December, largely due to a jump in orders for commercial aircraft.

  2. U.S. initial jobless claims fall, halting a two-week run of sharp increases‏.

  3. In the bond markets, Treasury Dept. estimates a net profit of $1.54 billion from its sale of B. of A. warrants‏.

  4. Walt Disney Co. climbed 2.9% after Bank of America Corp. recommended the shares, while Coca-Cola Co. and Boeing Co. rose at least 1% as UBS AG lifted its ratings on the stocks. Abercrombie & Fitch Co. surged 15% to lead gains in retailers on higher-than-estimated monthly sales. A drop in oil dragged energy shares lower, limiting the market’s advance (Bloomberg).

  5. China sees bigger deficit of 1.05 trillion yuan.

  6. GIC converts UBS notes, faces US$5 billion paper loss.

Quick Picks: Here is a quick pick screen that we have designed to pick out potential stocks, both Bullish and Bearish. These are measured with emphasis on larger changes in price and volume. 

Bearish Stocks (Singapore)

Symbol

Name

Entry

SL

TSL

TP

Remarks

1

PWAY

Parkway Holdings

2.96

2.99

2.93

Overernight, Current Price at 2.99

Stock Prices last updated at 9.10 (Singapore Time)