The rally picked up right where it left off yesterday.
After a strong open, there was a brief pullback late morning. But an afternoon rally lifted the major indices to new record highs and the S&P finished with its 6th straight winning session.
Today gains from home builders, automakers, and technology stocks helped push the major indices to new records.
And the potential of a strong earnings season is also helping this rally. According to Thomson Reuters research, earnings from S&P 500 companies are 5.5% higher than last year.
Here’s where the major indices ended the day:
- The S&P finished with a 0.2% gain. Up 5 points, the S&P ended at 2,535.
- The DOW ended 0.4% higher. Adding 84 points, the DOW closed at 22,642.
- The NASDAQ was up 0.2%. With a 15 point gain, the NASDAQ finished at 6,532.
It was a quiet day for Crude Oil (CL), with CL staying in a small range just above the $50 mark. Crude Oil ended with a 0.3% loss at $50.41 a barrel.
General Motors (GM) was up 3.1%, with reports that U.S. sales growth came in around 12% in the latest quarter. Ford (F) was 2.1% higher after an earnings beat and sales growth of 8.7%.
Tomorrow’s economic calendar is a busy one.
We have ADP Non Farm Employment Change at 8:15am ET, ISM Non-Manufacturing PMI at 10:00am ET, Crude Oil Inventories at 10:30am ET, and Fed Chair Janet Yellen Speaking at 3:15pm ET.
— TRENDING NOW—
SHOCKING: Federal Reserve #2 Resigns Because of…
What I’m about to show you could have a huge impact on your life.