|Day's Range||24,721.09 - 24,832.54|
|52 Week Range||20,406.68 - 26,616.71|
Talk that Saudi Arabia has its sights on $80-$100 a barrel oil again and of more U.S. sanctions on Russia ignited a rally in commodities and resource stocks on Thursday, though the potential boost to inflation hit fixed-income assets. It was set to be the strongest day for the commodity complex in eight months as Brent crude futures climbed past $74 a barrel after a near 3 percent jump overnight. The surge came on a Reuters report that OPEC's new price hawk Saudi Arabia would be happy for crude to rise to $80 or even $100, a sign Riyadh will seek no changes to a supply-cutting deal even though the agreement's original target is now within sight.
Want to know why the Dow Jones Industrial Average and other major indexes are doing what they're doing? 7:35 a.m. The S&P 500 has started the week off with three days of gains. S&P 500 futures have dipped 0.1%, while Dow Jones Industrial Average futures have declined 11 points.
Oil is back in the spotlight. Our call of the day looks at Saudi Arabia’s desire to see $100 oil, and while that may get investors excited, it’s not likely to happen anytime soon.
U.S. stock futures suggested Wall Street would open lower on Thursday, April 19, but surging energy and commodity prices boosted benchmarks in Europe and Asia. Futures for the Nasdaq were down 14.25 points. Stocks in Asia closed Thursday with strong gains while European equities moved mostly higher after oil prices rose to the highest levels in more than two years.
U.S. stock-index futures point to a roughly flat open Thursday, putting the main gauges on track for a second-straight day of muted action. Equities are staying on course for a weekly gain, boosted by ...
Global stocks were mixed Thursday as a surge in energy and commodity prices boosted benchmarks in Europe and Asia but reignited concerns that robust global economic growth could quicken the pace of inflation and lift government bond yields. Oil prices surged to the highest levels in more than two years overnight, thanks in part to a Reuters report that suggested Saudi Arabia, the world's biggest producer, would be content with crude prices that approach $100 a barrel and won't push for changes in the current OPEC agreement that is taking 1.8 million barrels from the market each day until the end of the year. Aluminium prices, meanwhile, leapt to the highest in seven years, changing hands at $2,665 per ton on the London Metals Exchange, as U.S. sanctions on Russia hit the US Rusal, the world's number-two producer, while Nickel extended it two-day rally to 10% to trade at $15,825 per ton.
The US stock markets initially dipped a bit during the trading session on Wednesday but found enough buying pressure to turn things around and show signs of life again. Because of this, I think that there is a longer-term proclivity to the upside. The longer-term attitude should continue to be driven higher by a lack of trade wars, and of course stronger corporate earnings.
The major equity indexes barely moved today, as a postearnings drop from International Business Machines (IBM) was canceled out by gains from Textron (TXT), Intuitive Surgical (ISRG), and others. Ultimately, it shows once again that it's as much a market of stocks as it is a stock market. The Dow Jones Industrial Average dropped 38.56 points, or 0.2%, to 24,748.07, while the S&P 500 ticked up 0.1% to 2708.64, and the Nasdaq Composite advanced 0.2% to 7295.24.
Yahoo Finance's Seana Smith on IBM leading the Dow into the red, Morgan Stanley topping earnings, Altria and Phillip Morris leading the decline in consumer staples, and Roku shares tanking after Amazon and Best Buy reach a deal.