Home Headline News Wall Street Bulls Are Back in Rally Mode

Wall Street Bulls Are Back in Rally Mode



Thursday, US stocks spiked on expectations of a de-escalation in trade tensions after Washington and Beijing agreed to hold high-level talks in early October, while at the same time strong US economic data eased fears of a domestic slowdown.

The ADP National Employment Report, considered a precursor to the Labor Department’s more comprehensive jobs report, showed US private employers’ payrolls grew at the fastest pace in 4 months in August, led by big gainers in service-sector jobs.

Another private survey showed growth in US services sectors accelerated in August, rebounding from its weakest level in about 3 years, as new orders rose to their highest mark since February.

The upbeat reports eased concerns of an economic downturn, which was exacerbated by data Tuesday that showed a contraction in US factory activity in August.

Investors will keep a close watch on the Key NFPs data due Friday.

Closing Market Snapshot

NAS Comp8116.86+139.95(1.75%)
SP 5002976.00+38.22(1.30%)
10-yr T- Note -31/321.567
Volume: NYSEAdv 1895 Dec 956 878.4-M
Volume: NASDAQAdv 2261 Dec 826 2.1-B

Industry Watch

Strong: Financials, Information Technology, Industrials
Weak: Real Estate, Utilities, Consumer Staples
  • NAS Comp +22.3% YTD
  • S&P 500 +18.7% YTD
  • DJIA +14.6% YTD
  • Russell 2000 +12.0% YTD

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Neutral with a Bullish bias, notably our Key indicators all turned Very Bullish mid-morning Thursday.

Stay tuned…

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