Morning All
Thanks Easter Threadies
Local markets should open firmly higher this morning after the Dow Jones industrial average closed more than 180 points higher as Boeing and Goldman Sachs led the way higher.
The S&P 500 gained 0.86 percent, with financials leading advancers. The SPDR S&P Bank ETF (KBE) rose more than half a percent after the top two Wells Fargo executives bought $5 million worth of Wells stock.
The indexes closed at their session highs
The Nasdaq composite closed up 0.8 percent.
"I think this is a relief rally," said Peter Cardillo, chief market economist at First Standard Financial. "Are out of the woods? No. I still think we're in the midst of a pullback" given geopolitical conditions.
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Crude oil prices slipped on Monday in subdued trading after a three-week rally capped by the long Easter holiday weekend, but losses were curbed by strong economic growth in China and a weaker dollar.
"The market was overbought so these people are definitely booking profits at this point," he said.
Benchmark
Brent crude futures were down 44 cents at $55.45, while
U.S. West Texas Intermediate (WTI) crude futures were down 53 cents at $52.65 a barrel.
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Copper + 1.1%
Nickel + .28%
Zinc + .09%
Gold $1284
HUI - .2%
AUD Gold $1692
AUD .7592
Have a good day
1 & 2 CNBC
