Symbol	Name	Price		Change	%Change
DJIA	Dow Industrials	18956.69		88.76	0.47%
S& P 500	S& P 500 Index	2198.18		16.28	0.75%
NASDAQ	NASDAQ Composite	5368.86		47.35	0.89%

 

Major indexes rip to record closing highs as energy spikes 2%

U.S. equities closed higher on Monday, led by energy stocks, as oil prices rose on renewed optimism that OPEC was closing in on a deal to cut production.

" I do not know if it will happen, but the market will hopes that it will," said Robert Pavlik, chief market strategist at Boston Private Wealth, referring to a possible OPEC deal.

The three major indexes closed at record highs simultaneously for the first time since this past summer. The Dow Jones industrial average rose around 88 points, surpassing previous closing and intraday records of 18,923.06 and 18,934.05, respectively.

The S & P 500 topped its all-time intraday high of 2,193.81, hit on Aug. 15, during midday trade and closed at a record high, as the energy sector gained 2.2 percent. The Nasdaq composite advanced 0.89 percent, also posting records on a closing And intraday basis.

The Russell 2000 and the S & P Mid Cap 400 indexes, which track small and mid cap stocks, respectively, also hit record highs.

" I think oil, and commodities in general, are leading the way for stocks," said Peter Cardillo, chief market economist at First Standard Financial. He also said that crude prices received a boost from a weaker dollar.

U.S. crude for December delivery rose 3.9 percent to settle at $ 47.49 per barrel. The U.S. dollar index, which surged 2.24 percent last week to its highest level since 2003, traded 0.26 percent lower, around 100.9.

That said, Randy Frederick, vice president of trading and derivatives at Charles Schwab, said he expects oil prices to hold in a range roughly between $ 40 and $ 50 per barrel. " We' ve got high supply and slow-growing demand," he said " Any deal between OPEC would be shaky, as we' ve seen."

Overseas, European stocks mostly rose, with the pan-European Stoxx 600 index gaining 0.25 percent. In Asia, stocks closed mixed, with the Korean Kospi falling 0.43 percent and the Shanghai composite gaining 0.79 percent.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded lower, near 12.4.

Gold futures for December delivery rose $ 1.10 to settle at $ 1,209.80 per ounce.

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Symbol	Name	Price		Change	%Change
DJIA	Dow Industrials	18867.93		-35.89	-0.19%
S& P 500	S& P 500 Index	2181.90		-5.22	-0.24%
NASDAQ	NASDAQ Composite	5321.51		-12.46	-0.23%

 

 

Symbol	Name	Price		Change	%Change
NIKKEI	NIKKEI	18029.04		166.41	0.93%
HSI	HSI	22262.88	---	UNCH	0%
ASX 200	S& P/ASX 200	5358.50		19.96	0.37%
SHANGHAI	Shanghai	3208.45	---	UNCH	0%
KOSPI	KOSPI Index	1974.79		-5.76	-0.29%
CNBC 100	CNBC 100 ASIA IDX	6719.01		-19.98	-0.30%

 

Symbol	Name	Price		Change	%Change
DJIA	Dow Industrials	18903.82		35.68	0.19%
S& P 500	S& P 500 Index	2187.12		10.18	0.47%
NASDAQ	NASDAQ Composite	5333.97		39.39	0.74%

Stocks close within striking distance of record highs financials lead

U.S. equities rose on Thursday, putting the major indexes close to all-time highs, as investors parsed through economic data and Federal Reserve Chair Janet Yellen' s testimony.

Yellen, the head of the Federal Reserve, testified in front of Congress. In prepared remarks, Yellen said a rate hike could be " appropriate margin soon," adding there are dangers to waiting too long to tighten monetary policy. Yellen also said she would Not step down from her until her term is done.

A large number of market participants expect the central bank to raise interest rates next month. According to the CME Group' s FedWatch tool, market expectations for a December rate hike were around 90 percent Thursday.

" Janet Yellen has further cemented the argument that a rate could take place Next next. For us, it is a Done Deal and the question which we are focused on is if the Fed is sensitive to Treasury yields," Naeem Aslam, chief market analyst At Think Markets, said in a note. US Treasury yields rose on Thursday, with the two-year note yield near 1.03 percent and the benchmark 10-year yield around 2.28 percent as of 3:23 pm

" If you were looking for some silver linings in the economic data, the housing starts ... and the jobless claims are two of them," said Art Hogan, chief market strategist at Wunderlich Securities. " I think the market has been doing a Pretty good job of trying to price in a Trump administration, and now we' re pricing in an improving economy.

" We can speculate about what the world is going to look like in Jan. 20, but we do not have to do that with the economy," he said.

In oil markets, U.S. crude futures for December delivery fell 0.33 percent to settle at $ 45.42 per barrel, as evidence of global oversupply weighed, including Wednesday' s report from the Energy Information Administration, which showed a larger-than-expected stockpile build.

The U.S. dollar traded higher against a basket of currencies, with the euro near $ 1.062 and the yen around 109.98. On Wednesday, the dollar index hit its highest level in more than a decade.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded lower, near 13.4.
Gold futures for December delivery fell $ 7 cents, to settle at $ 1,216.90 per ounce.

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