FYI: U.S. stocks climbed toward fresh records Friday after major central banks set the stage for looser monetary policy.
The Dow Jones Industrial Average rose 243 points, or 0.90%, a day after the benchmark gauge topped 27000 for the first time. The S&P 500 gained 0.46%, again rising above 3000 in recent trading. Though the index has breached the 3000-level during the trading session the past two days, it has yet to close above that level.
The Nasdaq Composite edged up 0.59%, its gains tempered by weakness in biotechnology firms. The Nasdaq Biotechnology index declined 1.4% in recent trading. Shares of Illumina, the maker of gene-sequencing machines, plummeted 15% after the San Diego company lowered expectations for second-quarter revenue.
Meanwhile, the yield on 10-year Treasurys edged down to 2.121%, from 2.122% Thursday. Yields fall when bond prices rise. For the week, yields rose as some data showed mounting inflation.
In Europe, the benchmark Stoxx Europe 600 index rose less than 0.1%. Shares of Anheuser-Busch InBev slipped 1.5% after the company’s Asian unit said its IPO would price in the lower half of its range. Among the biggest gainers were the chemicals and auto sectors. German car maker Daimler was the only exception in its industry, falling 1.1% after it issued a profit warning.
In Asia, the Shanghai Composite Index gained 0.4% and Japan’s Nikkei ticked up 0.2%.
Data released Friday morning showed Eurozone industrial production rose sharply in May, raising hopes that the long slowdown in the region’s manufacturing sector could be leveling off.
U.S.-traded crude oil rose 0.3% to $60.39 a barrel, as traders anticipated supply disruptions from a storm in the Gulf of Mexico and rising tensions in the Middle East.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-07-11/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/stock-market-aims-for-another-round-of-records-as-bulls-bank-on-fed-rate-cut-2019-07-12/printWSJ:
https://www.wsj.com/articles/asian-european-stocks-tick-higher-11562918503Bloomberg:
https://www.bloomberg.com/news/articles/2019-07-11/asia-stocks-to-trade-mixed-treasuries-slide-markets-wrapIBD:
https://www.investors.com/market-trend/the-big-picture/stock-market-blue-chips-earnings/CNBC:
https://www.cnbc.com/2019/07/12/stock-market-dow-futures-rise-after-fed-hints-at-rate-cut-ahead.htmlReuters:
https://uk.reuters.com/article/us-usa-stocks/wall-street-hits-record-high-on-rate-cut-optimism-idUKKCN1U71HGU.K:
https://uk.reuters.com/article/uk-britain-stocks/uks-main-index-sees-seventh-straight-day-of-losses-boe-comments-lift-midcaps-idUKKCN1U70SSEurope:
https://www.reuters.com/article/us-europe-stocks/swiss-stocks-keep-a-lid-on-european-shares-as-pharma-drag-lingers-idUSKCN1U70W9Asia:
https://www.marketwatch.com/story/asian-shares-largely-rise-after-wall-street-sets-new-records-2019-07-12/printBonds:
https://www.cnbc.com/2019/07/12/us-bonds-traders-await-fresh-data.htmlCurrencies:
https://www.cnbc.com/2019/07/12/forex-markets-dollar-us-inflation-in-focus.htmlOil:
https://www.cnbc.com/2019/07/12/oil-markets-gulf-of-mexico-middle-east-in-focus.htmlGold:
https://www.cnbc.com/2019/07/12/gold-markets-us-china-trade-federal-reserve-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 
