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- U.S. markets closed higher for third consecutive day
U.S. markets closed higher for third consecutive day
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Loading...US stocks closed higher today after their big downturn last week. That's the third day of the indices winning streak. Investors are optimistic about President Trump that he will achieve his promised reform goals. Fundamentally, the economy continues to grow well and also the expectations of corporate profits. Traders do not pay attention to the other occurrences that continue to evolve such as the situation in North Korea and the situation around the former FBI director. There was no important economic data today. The President's travel to Saudi Arabia and Israel backed the defense sector and weapons and military aircraft manufacturers.
DJIA: 89.99 points/ 0.43% - 20,894.83
S&P: 12.29 points/ 0.52% - 2,394.02
NASDAQ: 49.92 points/ 0.82% - 6,133.62
RUSS 2000: 10.94 points/ 0.80% - 1,378.14
VIX: 10.90
The sectors within S&P index all rose except the energy. The technology sector in the index reported the best results rising by 18% since the beginning of the year.
In Dow Jones index they were Boeing and 3M traded higher.
The oil prices rose to $51.07/barrel amid the weaker U.S. dollar. Some analysts express bullish attitudes to the raw materials. The dollar was down against the most currencies today and our attitudes remains negative in the short term. The euro continued its rise even after the German Chancellor's statement that the currency was very weak. We expect EUR/USD to reach the zone around 1.14 - 1.16 before a deeper correction.
Chart source: Bloomberg Pro Terminal
Senan Fuchedzhiev - Trader
Varchev Traders Read more:
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