FYI: U.S. stocks rose Wednesday, putting the S&P 500 on track for a five-month high after economic data showed fresh signs of stability in the manufacturing sector and muted inflation.
The benchmark equity gauge added 0..70%, for a third consecutive advance and its highest close since early October after falling in every session last week. The Dow Jones Industrial Average climbed 148 points, or 0..58%, to 25,702. The tech-heavy Nasdaq Composite rose .69%.
Data Wednesday showed demand for long-lasting goods produced by U.S. factories rose in January for the third consecutive month, a sign of momentum for manufacturers.
Bond yields stabilized after Wednesday’s data, with the yield on the benchmark 10-year U.S. Treasury note climbing to 2.612%, according to Tradeweb, from 2.605% a day earlier. Yields rise as prices fall. They had dropped to a two-month low following Friday’s weaker-than-expected hiring data.
Boeing shares extended their slide, falling 2.4% and dragging down the Dow industrials after President Trump said the U.S. would join several other countries in suspending flights of the Boeing 737 MAX after the model was involved in a second deadly crash in less than five months on Sunday. The largest component in the price-weighted Dow, Boeing has fallen 14% this week.
The British pound trimmed some of its recent slide against the dollar Wednesday, and the U.K.’s FTSE 100 was slightly higher.
The Stoxx Europe 600 added 0.6%.
Asian stocks were mostly lower, with the Shanghai Composite down 1.1%, Hong Kong’s Hang Seng Index dipping 0.4% and Japan’s Nikkei dropping 1%.
All eleven of the S&P 500 Sectors led by Healthcare, Technology, Financials, and Energy were in positive territory.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-03-13/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/stock-market-poised-for-tepid-rise-but-dow-remains-under-pressure-amid-boeing-737-8-woes-2019-03-13/printWSJ:
https://www.wsj.com/articles/global-stocks-waver-as-brexit-growth-concerns-linger-11552467217Bloomberg:
https://www.bloomberg.com/news/articles/2019-03-12/asia-stocks-set-for-mixed-start-pound-declines-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/2-dow-stock-buy-range-market-shakes-off-boeing/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-lifted-by-latest-benign-inflation-data-idUSKBN1QU1HZCNBC:
https://www.cnbc.com/2019/03/13/stock-markets-us-markets-focus-on-political-uncertainties-brexit.htmlU.K.:
https://www.marketwatch.com/story/london-markets-flat-as-investors-puzzle-over-brexit-2019-03-13/printEurope:
https://www.marketwatch.com/story/london-markets-flat-as-investors-puzzle-over-brexit-2019-03-13/printAsia:
https://www.marketwatch.com/story/asian-markets-lower-amid-weight-of-global-uncertainties-2019-03-12/printBonds:
https://www.cnbc.com/2019/03/13/bond-market-us-treasury-yields-move-higher-ahead-of-data.htmlCurrencies:
https://www.cnbc.com/2019/03/13/forex-markets-pound-moves-brexit-negotiations-in-focus.htmlOil:
https://www.cnbc.com/2019/03/13/oil-markets-saudi-oil-exports-us-inventory-in-focus.htmlGold
https://www.cnbc.com/2019/03/13/gold-markets-dollar-moves-and-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