US markets closed with a burst of green during the last minute of today's session. The DOW closed up 235 points, SPY closed up +1.4% and WTI closed down in the low 48's continuing a session downtrend. Short-term indicators remain the same as yesterday, mildly bullish, but the SP500 closed below 2100, the all-important level to continue this rally.
Wall Street futures pointed to a third day of gains this morning, the last day of trading for the second quarter, as Brent fell towards $50 a bbl. SPY has moved this morning from +0.1% to +0.2% Initial U.S. jobless claims rose by 10,000 to 268,000 in late June and pace of layoffs nationwide remained extremely low.
Wall Street closes higher as global stocks and oil prices gain as Brexit nerves settle somewhat. Contracts to buy previously owned U.S. homes fell more than expected in May, crude erases Brexit losses, amid massive U.S. inventory draw closing in the mid 49's. SP 500 did not close above 2100 and needs too if this rally is to continue.
US markets melting higher, volume falling off, WTI crude falls short of $50 as it continues to climb and the USD remains down in the high 95's. U.S. consumer spending rose for a second straight month in May, but there are fears Britain's vote to leave the EU could hurt confidence and prompt households to cut back on consumption.
US stock future indexes are up again this morning and pointing to sharp gains at the open, (SPY +0.7%), WTI Crude in the low 48's and the USD slipping below 96. The initial panic surrounding Britain's vote to leave the European Union has settled somewhat and investors seeking out out bargains. Wall Street is looking to extend what had been the strongest one-day climb in four months.
US markets closed higher, sea-sawing from an +1% opening up to where the DOW was up +1.6% and SPY was up +1.8%, recouping some recent losses, as investors sought cheap assets after a two-day equities Brexit rout. Short-term indicators are bullish, but may turn bearish if the Spooze fails to pierce 2040 with gusto.
US markets remain up (SPY +1.0%, DOW +0.8%), but slowly drifting off the session highs. Hopes of a more coordinated central bank response to support the financial markets and firmer oil prices are helping stocks claw back some of their losses following the Brexit battering. The mostly sideways year for the Dow and S&P is still negative, down 1.6% and 2.1%, respectively. Short-term indicators are bullish, but falling.
US stock futures are higher this morning (SPY +0.95%) for the first time in three days and sterling and the euro climbed too. Brent prices topped $48 a barrel today as investors took advantage of a two-day slide in crude triggered by Britain's vote to leave the European Union. It may be to early to pick up bargains, I am sitting on my hands.
US Markets closed down (DOW -1.5%, SPY -1.7%), U.S. crude futures slid to near six week lows, European bank shares and sterling were on their biggest two-day slides on record, and U.K. government bond prices surged, pushing yields below 1% for the first time ever. Short-term indicators remain bearish, but at half the level of yesterday's close.
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