April 21, 2018

Dow Jones up for 4th day in a row

16 February 2018, 04:46 | Lionel James

Dow Jones up for 4th day in a row

Dow Jones up for 4th day in a row

Dow futures climbed 126 points, or 0.5%, to 24,987, while S&P 500 futures rose 11.35 points, or 0.4%, to 2,708.25. The Nasdaq climbed 130 points, or 1.9 percent, to 7,143. Concerns about rising inflation contributed to the fall, but even though investors have seen more signs of inflation in the last few days, major indexes are on a five-day winning streak and have recouped about half of their recent losses.

As such, the US economy is on track to grow about 3.1 percent in 2018, according to Credit Suisse, following the budget deal last week.

Volume on U.S. exchanges was 7.12 billion shares, below the 8.46 billion average for the full session over the last 20 trading days. They spiked in the first two weeks of February as stock indexes took some wild swings.

A Labor Department report showed US producer prices rose 0.4 percent in January, but only matched economists' estimates and likely helped further ease fears that inflation was picking up faster than expected. "But frankly, the path of least resistance is still up and fundamentals haven't really changed".

"So much Treasury debt is going to have to come to the market that people are starting to do the calculus of 'this is going to push interest rates higher, '" he said. Surprisingly, markets rose, suggesting investors are now less concerned about inflation than they were earlier this month, when an upbeat wage growth report sent markets reeling over fears the Federal Reserve might start raising interest rates faster than anticipated earlier.

USA crude oil turned higher in afternoon trading after a slump in the morning. However, the year-on-year rise was unchanged at 1.8 percent. Brent crude, used to price global oils, fell 56 cents to $63.80 a barrel in London.

Wholesale gasoline picked up 2 cents to $1.74 a gallon.

National Football League draft won't be coming to Detroit in 2019 or 2020
Cleveland may not ever get to host a Super Bowl, but they may get to host what has lately been the Super Bowl for its home team. The draft historically has taken place in NY each year, but it has moved around lately.

ENERGY: Oil futures fell, with the USA benchmark down 25 cents to $60.35 a barrel in electronic trading on the New York Mercantile Exchange. Natural gas lost 1 cent to $2.59 per 1,000 cubic feet.

Still, energy companies mostly fell.

Asia stocks climb despite rising U.S. inflation & stronger Yen as equity investors showed signs of warming to a world w/ #inflation & sustained pace of tightening in United States monetary policy. Silver fell 8 cents to $16.80 an ounce. Copper picked up 7 cents, or 2.3 percent, to $3.24 a pound.

The dollar fell to 107.09 yen from 107.69 yen. The euro dipped to $1.2294 from $1.2351.

France's CAC 40 climbed 1.1 percent, led by a big gain from Airbus.

The S&P 500 has now surged about 5 percent since last Thursday, but is still 5.5 percent below its record high on January 26. Hong Kong's Hang Seng advanced 2 percent to close at 31,115.43 in a half-day trading session. Trading was winding down in China ahead of the Lunar New Year holidays.

Other News

Trending Now

Colts make it official, hire Frank Reich as new head coach
Reich was Peyton Manning's quarterbacks coach in 2009 and '10 before coaching Reggie Wayne and the rest of the receivers in 2011. Reich began his coaching career in Indianapolis, where he served as a coaching intern from 2006-08.

Auburn basketball top No. 2 seed in early NCAA Tournament bracket
The other three are Virginia (No. 1) on a neutral, Nevada (No. 15) on the road, and Alabama (No. 33) on the road. The committee is no longer using RPI top 50, top 100, top 200, and 201 and above as five dividing categories.

Saudi to cut oil exports in March, says committed to stabilising market
The cut has boosted oil prices, which in January topped $71 a barrel for the first time since 2014. Then the OPEC+ group cut production by 37% more than predicted, says IEA.

United Kingdom threatens charity aid cut-off after Oxfam sex report
A damning internal report into their conduct concluded: "It can not be ruled out that any of the prostitutes were under-aged". Although the charity has denied covering up the alleged scandal, Christian Aid said the claims are "deplorable".

Facebook's days may be numbered as United Kingdom youth abandon the platform
Even now, Facebook continues to add features to its native Stories in a bid to drive usage, but has failed spectacularly. The age group younger than 25 years old is typically considered Gen Z, while the cohort directly older are millennials.

The most distant photo ever taken
New Horizons is now on its way to a KBO named 2014 MU69 , with which it's expected to make a close encounter on Jan 1, 2019. Well, New Horizons has outdone itself again, setting a record for the farthest photos ever taken from Earth.

Bill Haas: golfer survives fatal auto crash
Los Angeles Police Department Detective Jeff Fischer told television station KTLA that Haas was the passenger and was "doing OK". Aside from the two vehicles directly involved, another Toyota SUV was sideswiped by the Ferrari just before the crash.

Ruling Party Votes To Recall South African President Jacob Zuma
The ruling party wants Deputy President Cyril Ramaphosa to take over from Zuma, who has not responded to an ANC order to quit. The Guptas are accused of exploiting their ties to Zuma to influence Cabinet appointments and land state contracts.

Eurostar to launch London-Amsterdam direct service in April
Eurostar expects an agreement will be in place by the end of 2019 that would allow passengers to travel direct both ways. Trains will depart twice a day at 8.31am and 5.31pm, going through Brussels and Rotterdam before arriving in Amsterdam.

UFC 221: The Real Winners and Losers from Perth, Australia
Yoel Romero and former UFC champion Luke Rockhold will square off in the main event for the UFC middleweight interim title. But there were too many punches from Romero to defend. "I'm not necessarily sure exactly what went wrong", Romero said.