Dow Jones 21012 plus 74
S&P 500 2404 plus 6
FTSE 7514 plus 29
DAX 12642 minus 16
OIL 51.31 minus 0.16
GOLD 1257.92 plus 3.12
AUD 75.03
SPI Futures plus 11
The Kingswood........you're not taking the Kingswood, i just hoovered the glove box
http://www.marketwatch.com/story/us-stocks-set-for-5th-day-of-gains-ahead-of-fed-minutes-2017-05-24
The S&P 500 gained ground for a fifth consecutive session Wednesday to close at a record as minutes of the Federal Reserve’s latest policy meeting showed broad agreement on plans to begin shrinking the central bank’s balance sheet and also pointed to a likely rate increase next month, as widely expected.
The S&P 500
SPX, +0.25% rose 5.97 points, or 0.3%, to close at 2,404.39. The Dow Jones Industrial Average
DJIA, +0.36% also rose for a fifth straight day, gaining 74.51 points, or 0.4%, to finish at 21,012.42. The five-day run is the longest winning streak for both the S&P and the Dow since February.
The Nasdaq Composite Index
COMP, +0.40% climbed 24.31 points, or 0.4%, to end at 6,163.02.
The minutes of the early May meeting showed that members were
in agreement on a general approach to unwinding the massive balance sheet built up over the course of the asset-buying spree that was at the center of the Fed’s quantitative easing strategy. The minutes also showed most Fed officials agreed it would “soon” be time to raise rates again.
“The unwind in the Federal Reserve’s balance sheet holds Chair Yellen’s signature gradual approach; she will not allow a quick unwind, nor anything that surprises markets,” said Quincy Krosby, chief market strategist at Prudential Financial, in emailed comments.
Caution had been slightly elevated after Moody’s Investors Service cut
China’s foreign credit rating for the first in nearly three decades. However, stocks in China erased losses and closed slightly higher, while European stocks also shook off early weakness and traded in positive territory.
In other central bank events on Wednesday, Dallas Fed President Rob Kaplan will participate in a moderated discussion at an event in Toronto at 6 p.m. Eastern. Minneapolis Fed President Neel Kashkari participates in a town hall discussion in Ashland, Wis., at 6:30 p.m. Eastern.
On the economic front, existing home sales fell 2.3% in April,
coming in below expectations as lean inventory constrained demand.
Shares of
Lowe’s Cos.LOW, -3.02% slid 3% after the home-improvement retailer posted quarterly sales and adjusted earnings that
fell short of Wall Street’s forecasts.
Tiffany & Co. TIF, -8.71% reported profit ahead of expectations, but same-store sales unexpectedly fell, sending shares down 8.7%.
Other markets: Oil prices
CLN7, -0.43% declined for the first time in six sessions as traders await a meeting of the Organization of the Petroleum Exporting Countries and other major producers on Thursday that’s expected to produce an agreement to extend output cuts.
Metals prices ended mostly lower, with gold
GCM7, +0.17% off 0.2% and the ICE dollar index
DXY, -0.27% edging down 0.2%.
Futures point to a positive opening, currently plus 11
have a good day
