$DIA, $SPY, $QQQ, $RUTX, $VXX
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.
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
| DJIA | 26728.13 | +372.68 | (1.41%) |
| NAS Comp | 8116.86 | +139.95 | (1.75%) |
| SP 500 | 2976.00 | +38.22 | (1.30%) |
| 10-yr T- Note | -31/32 | 1.567 | |
| Volume: NYSE | Adv 1895 | Dec 956 | 878.4-M |
| Volume: NASDAQ | Adv 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…
Wall Street Bulls Are Back in Rally Mode added by HEFFX Australia on
View all posts by HEFFX Australia →
Latest posts by HEFFX Australia (see all)
- Tesla (NASDAQ:TSLA) Stock Split - August 12, 2020
- Alibaba Health (0241.HK) Remains A Winner To Buy On The Dip - August 12, 2020
- China Mobile (0941.HK) Stock Has Room To Rise - August 12, 2020