Translate

Search This Blog

Search Tool




Dec 7, 2016

U.S. Stock Market Future Indicationsby MarketWatch - December 7, 2016: Dow Industrials Aim for Fresh All-Time High

www.marketwatch.com


marketwatch.com
 
Victor Reklaitis
U.S. stock futures on Wednesday pointed to a slight rise at the open, putting the Dow industrials on track for another record close.

S&P 500 futures  ESZ6, +0.06%  inched up by 1.15 points, or 0.1%, to 2,211.25, while Dow Jones Industrial Average futures YMZ6, +0.12%  edged higher by 23 points, or 0.1%, to 19,255. Nasdaq-100 futures NQZ6, +0.06%  tacked on 2.50 points, or 0.1%, to 4,789.25.

On Tuesday, the S&P 500 SPX, +0.34%  closed 0.3% higher, within 0.1% of its Nov. 25 record close. The Dow DJIA, +0.18%  gained 0.2% and finished at an all-time high for a second straight session. The Nasdaq Composite COMP, +0.45%  added 0.5%.

Analysts are marveling at the stock market’s post-election advance, which has recently sparked warnings that it’s time for a pause.

“It appears that nothing can stop the equity rally,” said Naeem Aslam, chief market analyst at ThinkMarkets UK, in a note.

“If you look at the volatility index, it has dropped near the 11 handle, which confirms that appetite for riskier assets is strong,” he added, referring to the CBOE Volatility Index VIX, -2.46% . “Buying volatility at these levels may not be that much of a bad idea.”

Read: Why the rally by U.S. stocks is ‘just getting started’ — in one chart
 
Other markets: European stocks SXXP, +0.78% gained, with banks and miners among the session’s big winners, and Asian markets closed broadly higher. Oil futures CLF7, +0.04%  , gold futures GCZ6, +0.25% and a key dollar index DXY, +0.09% were all modestly higher.

Individual stocks: Jack Daniel’s whiskey maker Brown-Forman Corp. BF.A, +0.11% and handbag seller Vera Bradley Inc. VRA, -0.47%  are among the companies expected to post earnings before the open.

Economic news: The JOLTS report for October is slated to hit at 8:30 a.m. Eastern Time. That acronym stands for Job Openings and Labor Turnover Survey.

Investors are also bracing for the European Central Bank’s policy-setting meeting on Thursday. The Federal Reserve entered the blackout period Tuesday ahead of its meeting next week, so there are no Fed speakers on the docket.

Check out: MarketWatch’s Economic Calendar