KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
US stocks ended higher on Friday, lifted by Amazon’s upbeat quarterly forecast, though Federal Reserve caution on further rate cuts capped broader enthusiasm.
Market Performance
Dow Jones Industrial Average: +0.09% to 47,562.87
S&P 500: +0.26% to 6,840.20
Nasdaq Composite: +0.61% to 23,724.96
All three major indices notched weekly and monthly gains, marking their longest winning streaks in years.
S&P 500: +2.27% in October, six straight months of gains (longest since 2021)
Nasdaq: +4.7% in October, seven-month streak (longest since 2018)
Dow: +2.5% in October, six-month streak (longest since 2018)
Key Drivers
Amazon.com Inc. surged 9.6% to an all-time high after projecting strong holiday-quarter sales, boosting the consumer discretionary sector (+4%), its best day since May.
Apple Inc. slipped 0.4% despite exceeding iPhone sales forecasts, as CEO Tim Cook warned of potential supply constraints.
Rate-cut optimism faded after Atlanta Fed President Raphael Bostic and Cleveland Fed President Beth Hammacksignaled December easing isn’t guaranteed.
Traders now price in a 65% chance of a December rate cut (down from 91.7% a week ago, CME FedWatch).
“Earnings are coming in better than expected, but hawkish Fed remarks are tempering enthusiasm,” said James Ragan, Co-CIO at DA Davidson.
Sector & Stock Highlights
Warner Bros Discovery jumped 8.7% after reports that Netflix is exploring a bid for its studio and streaming business.
Netflix rose 2.7% after announcing a 10-for-1 stock split.
Western Digital gained 8.7% on a strong earnings forecast.
First Solar rallied 14.3% after topping revenue expectations.
Grocery stocks including Kroger (-2.8%), Conagra (-1.3%), and Walmart (-1%) fell amid uncertainty over federal food aid (SNAP) funding during the government shutdown, despite court rulings to continue payments.
Earnings Season Snapshot
Of 315 S&P 500 companies reporting so far, 83.2% have beaten estimates, well above the 67% historical average, according to LSEG data.
With the government shutdown halting economic data releases, investors are relying on corporate earnings for economic signals.
“We’re using companies, as we should, for guidance on how the economy is going,” said Kim Forrest, CIO at Bokeh Capital.
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