Thursday's Market Recap - Stocks Rally On Rising Crude Oil Prices And Strong US Economic Data

What is The Premarket Telling Us?

7:00 AM.

US stock futures are are all up this morning. Dow futures up 45 points, Nasdaq futures up 17.50 points, and S&P futures up 2.75 points. Asian markets were mixed overnight.

On The Bond Desk:

US 10 year bond yield sits at 2.41%, down 0.06% or six basis points.

Currency Desk:

Euro dollar at 1.19

UK Pound at 1.34

Crude Oil:

WTI crude oil futures up at $59.66/barrel, up 0.03%.

On the Earnings Calendar:

None

In M&A News:

None

What About The Asian And European Markets?

Asian markets were mixed overnight. Japan (Nikkei 225) down 0.56%, Shanghai up 0.63%, Hong Kong (Hang Seng) up 0.90%.

Europe was also mixed. German DAX down 0.69%, France CAC 40 down 0.55%, London FTSE 100 up 0.03%.

Market And Sector Dynamics

Stocks opened the trading day moderately higher. The Dow jumped 53.08 points, Nasdaq rose 13.40 points, and the S&P added 3.04 points. All but three of the 11 S&P sectors are higher this morning, led mostly by the big technology stocks.

Apple shares faced some mild pressure today, as talk of the company deliberately slowing down old iPhones, to encourage customers to buy new phones. Shares of the company did close slightly higher, today.

All eleven of the S&P sectors closed with modest gains in a broad based rally, led by basic materials, utilities, financials, and telecommunications services.

Factors Influencing Today's Market

• This week's Initial Jobless Claims remained unchanged at 245,000 claims.

• WTI crude oil closed at $59.84/barrel, up 0.34%.

• This week's EIA Petroleum Status Report shows crude oil inventories fell 4.6 million barrels,to 431.90 million, the sixth consecutive mostly large drawdowns.

• Chicago PMI was a robust 67.6 vs the 61-65.4 range expected.

Market Close Volume Traded And Advance Decline Ratio

At the close of trading the Dow gained 63.21 points, Nasdaq gained 10.82 points, and the S&P added 4.92 points. Total NYSE volume traded, a light 2.13 billion shares. Advancing shares outpaced Declining shares by 2:1.

Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.