Big Tech Rallies, US Indexes Rise
$DIA, $SPY, $QQQ, $VXX
US stocks are rising Thursday as Facebook (NASDAQ:FB) led a big rally in technology. The social media platform rose on strong business in Q-1.
Other big technology companies also moved higher, as did retailers. Chipotle Mexican Grill, Ford and Visa also rose after they gave strong first-quarter reports.
Just 3 months ago on 26 January the S&P 500 and DJIA market all-time highs and has been consolidating the strong gains since President Trump’s election. The S&P is down 7.3 and the DJIA is off 8.7% since.
Brent Crude rose 0.6% at 74.45 bbl in London.
Crude Oil prices have risen recently, and that has driven up fuel costs for many companies.
Bond prices edged higher, as the yield on the benchmark 10-yr US T-Note dipped to 3% from 3.03%
The European Central Bank (ECB) left its Key interest rates and monetary stimulus settings unchanged Thursday. ECB President Mario Draghi said the European economy is still growing, but there is some evidence that growth has slowed down. He added that so far, the evidence isn’t worrisome enough to consider changing the bank’s stimulus and interest rate policy.
Thursday, the major US stock market indexes finished at: DJIA +238.51 at 24322.34, NAS Comp +114.94 at 7118.68, S&P 500 +27.54 at 2666.94
Volume: Trade on the NYSE came in at 833-M/shares exchanged
- NAS Comp +3.1% YTD
- Russell 2000 +1.5% YTD
- S&P 500 -0.3% YTD
- DJIA -1.6% YTD
HeffX-LTN’s Market Indexes Technical Analysis