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The Closing Bell: US stocks Jump After Report Of Stronger Consumer Spending
FYI: U.S. stocks climbed Thursday after the Commerce Department said spending by U.S. consumers grew in July, along with wages and salaries. Technology companies are extending their winning streak as the Nasdaq composite nears record highs. Health care and energy companies are also rising, and so are retailers. Packaged food companies are falling after weak forecasts from Campbell Soup. Regards, Ted Bloomberg: https://www.bloomberg.com/news/articles/2017-08-30/asia-stocks-set-to-open-mixed-on-u-s-data-korea-markets-wrap
FYI: U.S. stocks climbed Thursday after the Commerce Department said spending by U.S. consumers grew in July, along with wages and salaries. Technology companies are extending their winning streak as the Nasdaq composite nears record highs. Health care and energy companies are also rising, and so are retailers. Packaged food companies are falling after weak forecasts from Campbell Soup. Regards, Ted Bloomberg: https://www.bloomberg.com/news/articles/2017-08-30/asia-stocks-set-to-open-mixed-on-u-s-data-korea-markets-wrap
Thanks @Ted. Hoping not to step on any toes here. What struck me today was that commodities - notably energy (followed by gold) were on a tear. One day is probably meaningless, but just relaxing in front of the Bloomberg screen after my afternoon workout I see:
- RBOB Gas (gasoline futures) +13.5% for the day - after an already strong week
- Heating Oil + 5%
- Nat gas + 3%
- NYMEX + 2.5%
- AG - Very strong across the board
- Lumber Up
- Aluminum Up
- Copper Up
- Gold + $13 to over $1320 (about $100 above its recent low in May)
*'Footnote - Giving credit where due: @Ted's AP Link does include a pretty good summary of the energy & commodities markets, although some of the numbers differ a bit from what Bloomberg is showing.
Comments
- RBOB Gas (gasoline futures) +13.5% for the day - after an already strong week
- Heating Oil + 5%
- Nat gas + 3%
- NYMEX + 2.5%
- AG - Very strong across the board
- Lumber Up
- Aluminum Up
- Copper Up
- Gold + $13 to over $1320 (about $100 above its recent low in May)
*'Footnote - Giving credit where due: @Ted's AP Link does include a pretty good summary of the energy & commodities markets, although some of the numbers differ a bit from what Bloomberg is showing.