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The Closing Bell: Stocks Rise On Energy, Health Care Sectors As Tepid Data Cap Upside

TedTed
edited March 2019 in Fund Discussions
( The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest update from IBD and Bloomberg Evening Briefing, and will be moved to the top of the Discussion /Board.)

FYI: U.S. stocks shook off some of their recent doldrums to trade higher Tuesday as energy and health care sectors buoyed the market. A resumption of U.S.-China trade negotiations also helped to reignite some optimism that the high stakes protracted dispute is coming to a close.

However, tepid housing and consumer-confidence data dragged key indexes off intraday highs.

The Dow Jones Industrial Average climbed 1140 points, or 0.55%, and the S&P 500 added 0.72%, while the Nasdaq Composite gained 0.71% in recent trading. All three indexes remained lower than their levels a week earlier.

Technology, financial and energy stocks were driving U.S. stocks’ gains on Tuesday.

Apple AAPL +1.07% shares rose 1.3% after announcing a raft of products aimed at boosting its services revenue, including new TV and news products on Monday. Dow Jones & Co., publisher of The Wall Street Journal, has a commercial agreement to supply news services to Apple.

Banking stocks also outperformed in early trading after taking a beating late last week, with Goldman Sachs GS +0.68% rising 0.7% and JPMorgan Chase up 0.2%. Goldman’s collaboration with Apple on its new credit card adds to the recent pressure on financial-sector stocks amid ebbing market expectations of aggressive monetary policy from central banks.

Shares in energy companies helped lift the Dow industrials higher, with Exxon XOM +0.98% rising 1.3% and Chevron gaining 0.9%, as oil prices continued to rise following a difficult end to 2018. U.S. crude-oil futures rose 2% to $59.98 a barrel in recent trading, putting its year-to-date gains at more than 30%.

The yield on 10-year U.S. Treasurys was 2.434%, up from 2.418% late Monday and on course to snap a four-day negative streak. A recent slip in 10-year U.S. Treasury yields below the level of three-month Treasury bills has been seen by some investors as foreshadowing a potential U.S. economic downturn.

Germany’s DAX index rose 0.7%, while the broader Stoxx Europe 600 index climbed 0.8%.

U.K. assets remained little changed despite lawmakers’ decision late Monday to wrest control of the Brexit process away from Prime Minister Theresa May.

The gains in Europe followed more mixed trading in Asia. Japan’s Nikkei Stock Average climbed 2.2% thanks to buoyant pharmaceuticals and transportation stocks, while mainland China stocks fell ahead of the resumption of cabinet-level trade negotiations between the U.S. and China.

All eleven of the S&P 500 Sectors led by Energy And Financials were in positive territory.

Regards
Ted
Evening Briefing:
https://www.bloomberg.com/news/articles/2019-03-26/your-evening-briefing

MarketWatch:
https://www.wsj.com/articles/global-stocks-extend-rally-11553591028

WSJ:
https://www.wsj.com/articles/global-stocks-extend-rally-11553591028

Bloomberg:
https://www.bloomberg.com/news/articles/2019-03-25/stocks-in-asia-look-mixed-as-yields-extend-decline-markets-wrap?srnd=premium

IBD:
https://www.investors.com/market-trend/stock-market-today/solid-gains-stock-market-today/

Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-lifted-by-gains-in-techs-energy-idUSKCN1R719C

CNBC:
https://www.cnbc.com/2019/03/26/stock-market-economic-worries-take-center-stage.html

U.K.:

Europe:
https://www.reuters.com/article/us-europe-stocks/european-stocks-claw-back-up-after-four-day-drop-idUSKCN1R70SB

Asia:
https://www.marketwatch.com/story/asian-markets-mostly-gain-after-mondays-slide-2019-03-25/print

Bonds:
https://www.cnbc.com/2019/03/26/us-bonds-treasury-auctions-and-economic-data-in-focus.html

Currencies:
https://www.cnbc.com/2019/03/26/forex-market-brexit-vote-global-economic-slowdown-in-focus.html

Oil:
https://www.cnbc.com/2019/03/26/oil-market-opec-supply-cuts-us-sanctions-in-focus.html

Gold
https://www.cnbc.com/2019/03/26/gold-market-us-recession-concerns-brexit-vote-in-focus.html

WSJ: Markets At A Glance:
https://markets.wsj.com/us

Major ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitor

SPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-tracker

SPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectors

Current Futures:
https://finviz.com/futures.ashx



Comments

  • @MFO Members: Update at 4:56 PM CDST IBD and Bloomberg Evening Briefing
    Have a good evening !
    Regards,
    Ted
  • image ■ ■ ■ ■ ■ ■ ■ ■ THIS POST IS A VIOLATION OF MFO POSTING STANDARDS ■ ■ ■ ■ ■ ■ ■ ■ image

    ⇒ This post has very few views and NO comments. In yet another slimy bit of work by Ted he has deliberately "bumped" it into the COMMENTS + section without earning any legitimate qualifying comments.

    He deliberately and cynically does this with his BS "Update" comments so as to force this post "to the top of the board". He is well aware that this is in violation of MFO standard practice, but he believes that the rules for him are different than those for everyone else. He's just special.

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