Saturday, 23 June, 2018

Stocks are making another big rebound ahead of the opening bell

E-mini Dow Jones Industrial Average Weekly March E-mini Dow Jones Industrial Average
Kelvin Reese | 17 February, 2018, 23:14

Inflation and interest-rate fears sparked a stock market rout after U.S.jobs data was released on February 2.

The Dow Jones Industrial Average was up 74.08 points or 0.30% at 24,686.92 while the S&P 500 was also slightly higher, up 7.17 points or 0.28 % at 2,665.06.

US stocks rose on Monday as the major indexes rebounded from their worst weekly performances in two years. A drop of that size is known on Wall Street as a market "correction". DowDuPont and Apple were the best-performing stocks in the Dow, advancing 3.4 percent and 4 percent, respectively.

"The market was probably 10 to 15 percent overvalued, and we got a 10 percent correction", said Ablin, who said he moved one client into the stock market Friday. It remains down 7.3 percent from a record high on Jan 26 and is now priced at levels first reached in early December.

Rob Haworth, a senior investment strategist at U.S. Bank Wealth Management, said the market's recovery from a negative start earlier in the session was a good sign, but that it remained too soon to predict the market's return to stability.

Defense contractor General Dynamics will spend nearly $7 billion to acquire internet technology company CSRA. The Trump administration has been pushing defence spending aggressively higher. Cisco Systems rose 2.9 percent and Citigroup climbed 2 percent.

By 9:54 a.m. NY time, the FTSE 100, which captures Britain's largest companies, had fallen 1.7 percent, Germany's DAX had tumbled 2.2 percent and France's CAC 40 had dropped 2.1 percent.

Man suspected in girl's kidnapping to appear in court in Mississippi
Because authorities could not be sure of the circumstances of Heidi's disappearance, they could not issue an Amber Alert. Heidi Renae Todd was found in Riverside , Alabama and is in police custody, Riverside Mayor confirmed to Count on 2.

Pochettino reiterates that FA Cup is not Spurs priority
After a busy period in the Premier League and Champions League it's important to assess every single player. The effort was massive to put the pitch in the best condition to play without risk.

Three arrested in Hawks Gupta raid in Saxonwold
A police source with knowledge of the operation said officers were looking for specific documentation and electronic devices. Among those arrested is the provincial head of the department for agriculture, Peter Thabethe, in the Free State Province.

Restaurant Brands International, the owner of Burger King and Tim Hortons, jumped $3.73, or 6.6 per cent, to $60.24 after a strong fourth-quarter report, and McDonald's gained $2.04, or 1.3 per cent, to $162.84.

Telecom, utilities and financial stocks also saw considerable strength, contributing to the higher close by the broader markets.

While the markets were repeatedly marching though record high territory over the past year, even mediocre companies benefited, analysts said. Hong Kong's Hang Seng index surged 2.2 percent to 30,108.75 and the Shanghai Composite Index advanced 1.8 percent to 3,212.01.

Twenty-First Century Fox picked up 66 cents, or 1.9 percent, to $36.40 after The Wall Street Journal reported that cable and Internet provider Comcast is still interested in buying Fox's entertainment divisions and could make another offer. Brent crude, used to price global oils, advanced 43 cents to $63.03 per barrel in London.

Investors have been on edge as of late over concerns surrounding higher interest rates, therefore moves in the bond market will continue to be of key importance going forward.

Following Wall Street's recent swings, the S&P 500 is down 0.4 percent for the year.

The Dow industrials were up 270 points, or 1.1 percent, to 24,461.

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