Stocks Rose Across the Board, as Trump Rally Extends

Stocks Rose Across the Board, as Trump Rally Extends

Stocks Rose Across the Board, as Trump Rally Extends

$DIA, $SPY, $QQQ, $VXX

US Stocks rose Wednesday on earnings strength, with the S&P 500 Index and NAS Comp posting records for a 2nd day running.

Every S&P 500 sector was higher, with energy stocks and materials companies leading the charge.

The energy sector was underpinned by a positive performance from Crude Oil, which climbed 1.5% to 47.31 bbl on the heels of a better than expected EIA inventory report.

According to the Department of Energy, US Crude Oil stockpiles declined by 4.7-M bbl last week while the consensus expected a draw of 3.5-M bbl.

The DJIA was up too, but IBM (NYSE:IBM), which reported disappointing Quarterly sales, weighed dropping 4.2%, after reporting a decline in revenue for the 21st Quarter running.

Investors will be watching ECB and BOJ this week for clues on the fate of easy monetary policies that have helped stoke growth and spur equity markets to record highs.

The major US stock market indexes finished at: DJIA +66.02 at 21640.75, NAS Comp +40.74 at 6385.01, S&P 500 +13.22 at 2473.84

Volume: Trade on the NYSE came in lite again with 709-M/shares exchanging hands.

  • NAS Comp +18.6% YTD
  • S&P 500 +10.5% YTD
  • DJIA +9.5% YTD
  • Russell 2000 +6.2% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Bullish (0.40) Bullish (0.40) Bullish (0.35) Bullish (0.46)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Bullish (0.31) Bullish (0.38) Bullish (0.38) Neutral (0.17)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Neutral (0.23) Bullish (0.33) Bullish (0.29) Neutral (0.06)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Bearish (-0.42) Bearish (-0.29) Very Bearish (-0.52) Bearish (-0.46)

Stay tuned…

 

 

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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