FYI: U.S. stocks surged Wednesday, with the Dow Jones Industrial Average and S&P 500 erasing their November declines after Federal Reserve Chairman Jerome Powell said interest rates are “just below” a level considered neutral.
The Dow industrials extended this week’s rebound, adding 617 points, or 2.5%, to 25,366. The S&P 500 climbed 2.2%, joining the blue-chip index in the green for the month, and the tech-heavy Nasdaq Composite rose 2.9%.
A rise for major indexes would be the first time since Nov. 1 that all three benchmarks have climbed in three consecutive sessions. The indexes are all up more than 3.4% for the week.
Ten of the eleven S&P 500 Sectors led by Information Technology, Consumer Discretionary and Healthcare were up over 2%, the only decliner was Utilities.
Here are the main stock moves:
.Tech shares that bore that brunt of the six-week sell-off led the rebound.
.Amazon.com, Netflix and Apple rose more than 3 percent to lead the FANG cohort.
.Salesforce.com surged 8 percent on earnings, Adobe jumped 7 percent.
.Utilities and makers of household products lagged behind as defensive shares fell out of favor.
.Boeing and Caterpillar led advances in the Dow; Verizon fell the most.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2018-11-28/your-evening-briefingBloomberg:
https://www.bloomberg.com/news/articles/2018-11-27/asia-stocks-to-gain-amid-trade-talk-dollar-rises-markets-wrap?srnd=premiumWSJ:
https://www.wsj.com/articles/stocks-push-higher-on-hopes-for-easing-trade-tensions-1543395871MarketWatch:
https://www.marketwatch.com/story/stock-index-futures-point-to-gains-ahead-of-speech-by-fed-chief-powell-2018-11-28/printIBD:
https://www.investors.com/market-trend/stock-market-today/stock-market-today-dow-romps-fed/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-higher-after-powell-says-gradual-rate-hikes-counter-risks-idUSKCN1NX1ESCNBC:
https://www.cnbc.com/2018/11/28/stock-market-wall-street-looks-to-fed-chair-speech-and-trade-news.htmlU.K.:
https://www.marketwatch.com/story/london-markets-struggle-ahead-of-brexit-banking-stress-test-2018-11-28/printEurope:
https://www.marketwatch.com/story/european-stocks-inch-higher-with-trade-talks-fed-chair-in-focus-2018-11-28/printAsia:
https://www.marketwatch.com/story/asian-markets-rise-in-cautious-trading-2018-11-27/printBonds:
https://www.cnbc.com/2018/11/28/bonds-and-fixed-income-fed-chair-remarks-and-gdp-in-focus.htmlCurrencies:
https://www.cnbc.com/2018/11/28/forex-markets-dollar-the-fed-us-china-trade-in-focus.htmlOil:
https://www.cnbc.com/2018/11/28/oil-markets-opec-g20-meetings-in-focus.htmlGold
https://www.cnbc.com/2018/11/28/gold-markets-the-fed-dollar-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
