Monday, January 3, 2011

Market Daily -- 3rd Jan 11

7. Morgan Stanley Starts DBS Group At Overwegith;S$16.75 Target

6.  SDRL - Seadrill Acquires Two Semi-Submersible Ultra-Deepwater Rigs Under Construction

5. Singapore 4Q Private Home Prices Up 2.7% Vs 3Q

4. Amtek Engineering Target Set At S$1.52 By CIMB

3. Midas Holdings Target Raised To S$1.22 Vs S$1.05 By OCBC

2. Singapore Oct-Dec GDP Up 6.9% Adjusted On Quarter, Annualized
 Dow Jones Poll Predicted Singapore 4Q GDP Up 9.2% On Quarter
 Singapore 4Q GDP Up 12.5% On Year Vs +13.4% Expected
 Singapore 2010 GDP Up 14.7% Vs +15% Expected
 Singapore 4Q Manufacturing Output Up 28.2% On Year
 Singapore 4Q Services Output Up 8.8% On Year
 Singapore 4Q Construction Output Down 1.2% On Year

1. WALL STREET: DJIA ends Friday +0.07% in thin trade, +11% for 2010; Nasdaq Composite sheds 0.38% Friday, though +17% for 2010; S&P 500 slips 0.02% Friday, +13% for 2010. While 2010 was ultimately positive for stocks, it was anything but smooth as investors were spooked by events such as the May 6 "flash crash" and ongoing worries over the financial health of several euro-zone countries that resulted in rescues for Greece and Ireland. A new $600 billion stimulus plan from the Fed and improving economic data helped the market recover from a summer slump, with stocks ultimately reaching highs not seen since before the fall of Lehman Brothers in 2008.