Friday's Market Recap - Strong 4Q Performance From JP Morgan And BlockRock Drives Stock Higher.

What is The Premarket Telling Us?

7:00 AM.

US stock futures are highly elevated in the premarket. Dow futures are up 110 points, Nasdaq futures up 8.25 points, and the S&P up 6.25 points, largely on the back of strong 4th. Qtr. Earnings results from JP Morgan, and BlackRock, and positive news from their CEOs on the anticipated benefits of the recent tax cut plan.

On The Bond Desk:

US 10 year bond yield at 2.53%, up 0.02% or two basis points.

Currency Desk:

Euro dollar up to 1.21

UK Pound up 1.36

Crude Oil:

WTI crude oil futures at $63.43/barrel

On the Earnings Calendar:

JP Morgan reported strong 4th. Qtr. financial results.

BlackRock Inc. report better than expected 4th Qtr. Earnings.

Wells Fargo also reported mixed 4th. Qtr. results.

In M&A News:

None.

What About The Asian And European Markets?

Asian markets closed mixed to higher in Friday trading. Japan (Nikkei 225) down 0.24%, Shanghai up 0.10%, Hong Kong (Hang Seng) up 0.94%.

European market Germany (DAX) up 0.32%, France CAC 40 up 0.52%, and London FTSE 100 up 0.20%.

Market And Sector Dynamics

Markets opened higher, by triple digits. The Dow gained 105 points, Nasdaq up 3 points, and the S&P gained 5 points. News from Facebook CEO, Mark Zuckerberg, announced that the company will feature more social posts from members, rather than third party content, in an effort to address the 'fake news' issue. Crude oil price is modestly lower, early in the trading session.

Stocks powered higher from the open and remain elevated into the close. Market breath was broad, with nine of the eleven S&P sectors closed the day with solid gains. Technology, energy, consumer goods, industrials, basic materials, and financials were the market leaders.

Factors Influencing Today's Market

• Crude oil prices pushed higher in today's trading. WTI crude oil closed at $64.30/barrel, up 0.78%.

• This week's Baker Hughes Oil Rig count rose 10 rigs for a total of 752.

• Strong Q4 Earnings reports from JP Morgan, and BlackRock.

• December CPI came in a bit hotter than expected. Excluding food and energy, CPI year or year, rose 1.80% vs1.70% estimated.

• The solid performance of retailers over the holiday season, was confirmed by a healthy read of December retail sales, which came in at 0.4%

Market Close Volume Traded And Advance Decline Ratio

At the close of trading the Dow rose 228.46 points, Nasdaq rose 49.28 points, S&P rose 18.68 points. Total NYSE volume traded, a moderate 3.58 billion shares. Advancing shares outpaced Declining shares, just better than even.

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