Wall Street rebounded on Thursday, resuming its recent upward trend following a trade induced sell off in the prior session. Stocks opened in the green and extended their gains throughout the day. The major averages each achieved a notable milestone: the Nasdaq (+1.4%) finished at a new record, the S&P 500 (+0.9%) hit its best level since the big drop in early February, and the Dow (+0.9%) returned to positive territory for the year. Small caps under-performed, but the Russell 2000 (+0.4%) still managed a modest gain. The top-weighted technology sector (+1.8%) led Thursday's broad-based advance. Within the space, influential names like Microsoft (MSFT 104.19, +2.21), Alphabet (GOOG 1183.48, +29.58), and Facebook (FB 206.92, +4.38) rallied to new record highs, adding more than 2.0% apiece. Apple (AAPL 191.03, +3.15) also had a good performance, adding 1.7%. On the downside, the heavily-weighted financial sector (+0.2%) lagged, closing near the bottom of the sector standings amid another curve-flattening trade in the bond market. Treasuries ended modestly lower, pushing the benchmark 10-yr yield up one basis point to 2.85% and the 2-yr yield up two basis points to 2.60%. That left the 2-10 year treasury spread at 25 basis points, which is its lowest level since 2007. Overseas, President Trump wrapped up a two day NATO summit in Brussels on Thursday morning, saying NATO withdrawal is now "unnecessary" after member states reaffirmed a commitment to spending 2% of their GDP on defense. The president then flew to the UK for a meeting with Prime Minister Theresa May. Source: Briefing.com Graph: Google finance Comments are closed.
|
About the O&G Research TeamThe O&G Research Team publishes insights on the global markets. Our research scope ranges from the US to China. Categories
All
Follow us on WeChat:
Read new articles and updates everyday on your phone!
DisclosuresWe may invest in some of the companies mentioned on this website. We are not responsible for the content on any external links on this website. The opinions expressed in this report do not constitute a buy or sell recommendation.
|