Friday's Market Recap. Dow Nasdaq And S&P Hit New Record Highs Today.
What is The Premarket Telling Us?
7:00 AM.
US stock futures are on the rise again this morning. Dow futures are up 51 points, Nasdaq futures up 32.25 points, S&P up 8.25 points. This morning the President will deliver a speech at the World Economic Forum is Davos. EarnCoing season continues. Today, Honeywell and Colgate-Palmolive are expected to reports before the opening bell.
On The Bond Desk:
US 10 year bond yield at 2.62%, down 0.03% or three basis point.
Currency Desk:
Euro dollar at 1.24
UK Pound at 1.42
Crude Oil:
WTI crude oil futures at $66.66/barrel, up 0.21%.
On the Earnings Calendar:
Fourth Quarter Earning results from Honeywell topped expectations. The company beat earnings and raised guidance.
Colgate-Palmolive 4th. Qtr. Earnings results, disappointed investors.
In M&A News:
None
What About The Asian And European Markets?
Major Asian markets closed mostly higher. Japan (Nikkei 225) down 0.16%, Shanghai up 0.28%, Hong Kong (Hang Seng) up 1.53%.
Major European markets traded higher, in their session. Germany (DAX) up 0.31%, France CAC 40 up 0.87%, London FTSE 100 rose 0.65%.
Market And Sector Dynamics
Markets started the trading day moderately higher, with the Dow up 52 points, Nasdaq up 34 points, and the S&P up 8 points.
Investors seems content to push stock higher, even as many believe stock are more than fairly valued.
Stocks enjoyed a steady melt up as the trading session progressed. Market tone was positive.
Today in Davos, Switzerland, President Trump delivered a pitch to the World Economic Forum, declaring that the US is open for business.
All S&P sectors ended the day with moderate broad based gains, led by consumer goods, technology, healthcare, industrials, telecommunications services, basic materials, financials and energy.
Factors Influencing Today's Market
Fourth Qtr. GDP rose 2.6%
Baker Hughes Oil Rig count rose 12 rigs to 759.
Crude oil prices traded moderately higher in today's session.
WTI crude oil close the day at $66.14/barrel, up 0.96%
Strong 4th. Qtr. Earnings results from Honeywell
Market Close Volume Traded And Advance Decline Ratio
At the close of trading stocks were at record highs. The Dow surged 223.92 points, Nasdaq jumped 94.61 points, S&P gained 33.62 points. Total NYSE volume traded, 3.39 billion shares. Advancing shares outpaced Declining shares better than even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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