Happy international Brother's day (there's something our Dad's not telling us...neighbour)
Dow Jones 20937 plus 43
S&P 500 2398 plus 4.4
FTSE 7485 minus 11
DAX 12659 plus 39
OIL 51.53 plus 0.40
AUD 74.79
GOLD 1250 minus 9.75
Smiley.........gets a gun
http://www.marketwatch.com/story/us...s-ahead-of-fed-speakers-flash-pmis-2017-05-23
U.S. stock-index benchmarks closed higher Tuesday, marking a fourth straight session in the green following the White House’s release of its 2018 budget proposal.
The moves come amid mixed economic data and an updraft in shares of financial firms.
The S&P 500 index SPX, +0.18% which earlier broke above the 2,400 mark for the first time in a week, rose 4.40 points, or 0.2%, to finish at 2,398.42. Financial and health-care shares led the gains, with 10 of the benchmark’s 11 sectors closing higher.
The Dow Jones Industrial Average DJIA, +0.21% rose 43.08 points, or 0.2%, to wrap up at 20,937.91, with shares of Goldman Sachs Group Inc. GS, +1.68% and J.P. Morgan Chase & Co.JPM, +1.25% swinging from earlier losses in the session to leading the average higher. Those bank shares contributed 32 points to the blue-chip gauge, while a 1.3% gain in Caterpillar Inc.CAT, +1.31% shares added about 9 points.
The winning streak for the two benchmarks is the longest since late February.
Meanwhile, the Nasdaq Composite Index COMP, +0.08% which saw slight advances and losses during the session, closed up 5.09 points, or less than 0.1%, at 6,138.71, for its longest winning streak since May 10.
Tuesday's trade comes less than a week after equity indexes on Wednesday suffered their worst daily loss in months.
Meanwhile, markets in Europe SXXP, +0.22% finished slightly higher on Tuesday after a cautious start following the suspected suicide bombing at an Ariana Grande concert in Manchester, England, that left at least 22 people dead. Asian stocks closed mixed.
“Geopolitical trauma is disheartening and scary, but the reality is that companies continue to do business. [Purchasing managers index] data from the eurozone at six-month high suggests that their economy is gaining steam, all of which bodes well for global equities,” said Karyn Cavanaugh, senior market strategist at Voya Financial.
Also in focus was Presidential Donald Trump’s 2018 budget.
Robert Pavlik, chief market strategist at Boston Private Wealth, said the release likely was a nonissue, seeing that it is highly unlikely to survive in its present form in Congress.
Read: Trump budget forecasts an era of growth not consistently seen since the dot-com era
“The market doesn’t know what to make of it,” Pavlik said. “If you’re trading stocks on this budget proposal, then you’re an idiot.”
Rather, the uplift in stocks has a lot to do with Trump traveling abroad and appearing presidential, and how that’s stealing some thunder away from the firing of former Federal Bureau of Investigation Director James Comey and the Russia probes, Pavlik said. When Trump returns stateside, however, the probe will likely gain traction again and weigh on stocks, especially with Comey testifying before lawmakers after Memorial Day.
On the economic data front, U.S. flash PMI reading for services and manufacturing for May were mixed. Manufacturing PMI dipped to an 8-month low, while services PMI rose to a 4-month high.
Other markets: Oil pricesCLN7, +0.63% settled higher for a fifth straight day, up 0.7% at $51.47 at a one-month high on expectations the Organization of the Petroleum Exporting Countries will extend production cuts into next year.
Gold pricesGCM7, -0.84% declined 0.5% to settle at $1,255.50 an ounce, and the dollar DXY, +0.40% traded 0.4% higher. The yield on the 10-year Treasury note TMUBMUSD10Y, +1.24% rose 3 basis points to 2.285%
our futures currently plus 16
only 6 more sessions in may,
is it June yet? is it June yet? is it June yet?
Have a good day
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