FYI: U.S. stocks rose for a third straight day on Thursday, as industrials gained after President Donald Trump said trade talks with China were “moving along nicely” and healthy results from chipmakers boosted optimism.
Trump said he plans to meet with his Chinese counterpart Xi Jinping at the G-20 summit in Argentina at the end of the month, reviving hopes that the world’s two biggest economies could resolve their bitter trade dispute.
“We got some great earnings so markets started off okay, but then drifted lower, and just as that tweet came out, things turned around, so this shows that trade continues to be a focus for the markets,” said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.
The Dow Jones Industrial Average rose 264 points, or 1.06%, to 25380 in afternoon trading. The S&P 500 added 1.05%, putting the broad index on pace for a third consecutive session of gains, which would be its longest winning streak since late September. The Nasdaq Composite climbed 1.75%.
As November begins, investors from New York to London and Hong Kong are wondering whether major indexes can firmly move higher after an array of concerns made October one of the worst months in years for stocks around the world.
Strong earnings in the U.S. and Europe continued to help rejuvenate major indexes after the selloff drained about $4.5 trillion from shares of companies in the U.S., Europe and Asia.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2018-11-01/your-evening-briefing?srnd=markets-vpBloomberg:
https://www.bloomberg.com/news/articles/2018-10-31/asia-stocks-to-start-november-mixed-dollar-gains-markets-wrap?srnd=premiumWSJ:
https://www.wsj.com/articles/global-stocks-extend-rally-1541063342MarketWatch:
https://www.marketwatch.com/story/sp-500-tries-for-first-3-day-streak-in-6-weeks-as-stocks-poised-to-extend-gains-2018-11-01/printIBD:
https://www.investors.com/market-trend/stock-market-today/small-cap-stocks-chips-lead-gains/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-higher-for-third-day-on-trade-optimism-chipmakers-results-idUSKCN1N64SLCNBC:
https://www.cnbc.com/2018/11/01/stock-market-dow-futures-slighly-higher-amid-earnings-data.htmlU.K.:
https://www.marketwatch.com/story/ftse-100-struggles-against-pound-strength-on-brexit-deal-hopes-for-banks-2018-11-01/printEurope:
https://www.reuters.com/article/us-europe-stocks/strong-earnings-from-ing-bt-help-european-shares-to-two-week-high-idUSKCN1N647XAsia:
https://www.marketwatch.com/story/nikkei-lags-but-other-asian-markets-gain-to-open-november-2018-10-31/printBonds:
https://www.cnbc.com/2018/11/01/us-treasury-yields-tick-higher-ahead-of-fresh-economic-data.htmlCurrencies:
https://www.cnbc.com/2018/11/01/forex-markets-british-pound-brexit-us-dollar-japanese-yen-in-focus.htmlOil:
https://www.cnbc.com/2018/11/01/oil-markets-global-crude-supply-demand-outlook-in-focus.htmlGold
https://www.cnbc.com/2018/11/01/gold-markets-dollar-us-china-trade-war-brexit-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx
