Wall Street gains as crude price surge, strong economic data prompt broad rally

wall street gains as crude price surge strong economic data prompt broad rally

Sumary of Wall Street gains as crude price surge, strong economic data prompt broad rally:

  • All three major US stock indexes gathered strength as the session progressed, with economically sensitive cyclicals, smallcaps and transportation stocks leading the charge.
  • While value stocks initially held the advantage, the risk-on sentiment gained momentum through the afternoon, broadening to include growth stocks.
  • “Today is the first time in a while when both growth and value stocks are doing pretty well.
  • The Dow Jones Industrial Average rose 236.82 points, or 0.68 per cent, to 34,814.39;
  • Energy was by far the biggest gainer, benefiting from a jump in crude prices driven by a drawdown in US stocks.
  • US-listed Chinese stocks extended recent losses, as weak retail sales data pointed to a possible economic slowdown in the mainland, while Beijing’s regulatory overhaul of Macau’s casino industry further dampened appetite for Chinese stocks.
  • “It would be tough to buy any Chinese stocks,” Carlson said.
  • US-based casino operators Las Vegas Sands Corp, Wynn Resorts Ltd and MGM Resorts International slid between 1.7 per cent and 6.3 per cent.

Want to know more click here go to source.

From -

Close
Generic selectors
Exact matches only
Search in title
Search in content

Site Language


By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close