The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest update from IBD and Bloomberg Evening Briefing.)
FYI: The first trading day of April started off with a bang continuing a tend in with the S&P 500 has been up every April for the last thirteen years. Since 1990 the S&P 500 has been up twenty-two years, and only down seven times during that period of time.
The Dow Jones Industrial Average added 329 points, or 1.2%, to 26.258 The S&P 500 advanced 1.1% and the Nasdaq Composite climbed1.2 %.
Stocks world-wide kicked off the week with gains after data showed a gauge of manufacturing activity in China jumped in March, rebounding after hitting its lowest point in three years in February.
Lyft Inc. shares missed out on the broader market rally Monday, tumbling to reverse course after their market debut last week. Shares were recently down 10% at $70.41, below Friday’s opening price of $72.
Energy shares rose 1.5% in the S&P 500, following crude oil prices higher.
Noble Energy Inc. added 3.2% and Valero Energy Corp. jumped 2.1%.
Financial stocks rose as bond yields rebounded from recent lows. Banks tend to benefit from higher interest rates because they boost their lending profitability.
Goldman Sachs Group Inc. rose 2.5% and Morgan Stanley added 3.2%.
The yield on the benchmark 10-year U.S. Treasury note, which fell for a second straight quarter on Friday, rose Monday to 2.496% from 2.416%. Yields rise as bond prices fall.
Elsewhere, the Stoxx Europe 600 index climbed 1.2% for its best one-day percentage gain since February.
Turkish markets showed signs of stabilizing despite a weak showing in local elections over the weekend for the ruling party of President Recep Tayyip Erdogan.
Of the eleven S&P 500 Sectors, eight sectors led by Financials and Industrials finished in positive territory. The other three sectors led by Consumer Staples and Real Estate were in the red.
Regards
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-04-01/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/us-stock-futures-climb-on-upbeat-china-data-indicating-bullish-start-to-new-quarter-2019-04-01/printWSJ:
https://www.wsj.com/articles/global-stocks-rise-on-chinese-data-11554105521Bloomberg:
https://www.bloomberg.com/news/articles/2019-03-31/stocks-to-gain-yen-dips-as-china-data-improves-markets-wrap?srnd=premiumIBD
https://www.investors.com/market-trend/stock-market-today/dow-jones-hits-six-moht-high-stocks-rally-global-fears-ease/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-rallies-on-upbeat-manufacturing-data-idUSKCN1RD26RCNBC:
https://www.cnbc.com/2019/04/01/stock-market-futures-rise-on-strong-china-data-trade-progress.htmlU.K.:
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-up-as-miners-banks-rally-easyjet-warning-tugs-airlines-idUKKCN1RD1MOEurope:
https://www.cnbc.com/2019/04/01/europe-stocks-brexit-and-data-in-focus.htmlAsia:
https://www.marketwatch.com/story/asian-markets-jump-after-surprise-bounce-in-chinas-manufacturing-2019-04-01/printBonds:
https://www.cnbc.com/2019/04/01/bond-market-treasury-yields-rise-amid-china-data-trade-optimism.htmlCurrencies:
https://www.cnbc.com/2019/04/01/forex-market-positive-chinese-pmi-brexit-deal-in-focus.htmlOil:
https://www.cnbc.com/2019/03/29/oil-market-opec-supply-cuts-us-sanctions-in-focus.htmlGold
https://www.cnbc.com/2019/03/29/gold-market-dollar-moves-global-economic-slowdown-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