Morning all
Thanks Trees, Rav and crew
Local markets should rally today after U.S. equities traded surged to all-time highs Wednesday, with the Dow Jones industrial average breaking above 21,000 for the first time, on the back of President Donald Trump's speech to Congress.
"A lot of people say this is euphoria. bit doesn't feel like it," said Eddie Perkin, chief equity investment officer at Eaton Vance. "It feels like people are reluctantly buying stocks."
"That's why I'm a little wary," he said.
The Dow advanced about 330 points with Goldman Sachs contributing the most gains. The 30-stock index first closed above 20,000 on Jan. 25.
The S&P 500 climbed 1.5 percent, with financials rising 3 percent to lead advancers, and briefly broke above 2,400 for the first time. The index closed above 2,300 for the first time on Feb. 9.
The Nasdaq jumped 1.4 percent.
Quincy Krosby, market strategist at Prudential Financial, said the speech's tone "has gone a long way for the market" as it "assuaged fears that his agenda was not going to be able to be passed."
1
Oil prices were largely steady on Wednesday, paring gains and briefly turning negative, after crude inventories in the United States rose to a record high.
Copper + .77%
Zinc + .1.4%
Nickel + .35%
Gold rebounded off a low of $1236 to be at $1248
HUI + .4%
AUD Gold $1625
AUD .7680
Have a good day
1 CNBC
Zinc
Expand
