{+++}Positive data and bank earnings out of Europe set the tone for a strong buying effort, sending the major U.S. indices to gains between 1.8% and 2.2%.
Sectors in positive territory include Financials (+2.57%), Tech (+2.04%), Health Care (+1.95%), Consumer Staples (+1.17%), Consumer Discretionary (+2.10%), Industrials (+1.98%), Energy (+3.56%), Telecom (+2.01%), Materials (+2.65%), Utilities (+1.99%).
Tomorrow morning, three economic reports are scheduled to be released before the open including: Personal Income (Consensus +0.1%), 2) Personal Spending (Consensus 0.0%) and 3) PCE Prices – Core (Consensus 0.1%).
Tomorrow, before the open, of the many companies scheduled to report, some of the bigger names include: ACOR, ALY, ADM, ARM, AAWW, BBG, BYD, CVLT, DF, DTF, DOW, DHI, EMR, ETR, EVR, FE, FDP, GET, GWR, HW, HERO, LEA, MMP, MRO, MMC, MA, MGM, TAP, NICE, NYX, OMX, PH, HK, PDE.
It was decent start to the month although NYSE volume at 3:45 was still 40% below the 90 day average.
The black boxes are having their fun and the young hedge fund traders (avg. age 25) have been given a little rope by their bosses that are hanging in the Hamptons. Spent many summers there, So hate the Hamptons. When the momo starts they have room to hit the buy button. No sellers, so they have their way.
Doesn’t matter how it gets there as long as it does, just telling you why. You wont get this on CNBC so tell your friends. Yes, you are truly in the presence of greatness on a daily basis.
I have adjusted (raised) all stops,o please, as always, check the P&L. Oil is hot so check these names out in the morning. Have a great night.
