Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Markets Recover From Tuesday's Mess, Greece Still Up in the Air


Today's financial recap and tomorrow's financial outlook.

Markets regained some of their losses from yesterday's sell-off.

All three major indices finished well in the green, led by the NASDAQ up 1.5% as Apple (AAPL) rallied 1.9%.

The S&P 500 came within 9 points of its all-time high of 2134.72, but was not able to take it all the way and closed at 2,123,48, up 0.9%.

The Russell 2000 finished up 1.3%.

Crude oil fell 0.7% today as the US dollar continued its rally, while US Treasury yields were roughly flat.

Biotech experienced a nice rally as risk came back in favor, and the NASDAQ Biotechnology ETF (IBB) finished up 1.9%, while the S&P Biotech ETF (XBI) rallied 1.7%.

Biomarin Pharmaceutical (BMRN) pushed up 1.9% as traders expect positive data for one of its treatments..

The Dow Transports, which have been closely watched by traders due to recent underperformance, also impressed with a 1.1% gain, lifted by the fall in oil prices.

However, the drop in oil hurt energy, which was the only S&P sector to fall today.

This morning's pre-market earnings announcers were mixed.

Michael Kors (KORS) received harsh treament for its earnings miss and weak guidance, and shares fell 24.2%.

Tiffany & Co. (TIF) rallied 10.5% as it posted a strong earninggs beat.

Shake Shack (SHAK) continued to drop off Friday's peak, with a loss of 14.0%.

European markets regained traction as well today as concerns about Greece abated a bit, despite conflicting headlines about just how close the country is to a deal. Italy's MIB rallied 2.29%, followed by France's CAC which finished up 1.95%. Germany's DAX gained 1.2% after falling 1.6% yesterday.

European bond yields were mixed. The 10-year German bund and UK Gilt yields each gained 0.7 bps. Italy's and Spain's 10-year bond yields fell 8.0 bps and 6.4 bps, respectively.

Asian markets finished mixed. Japan's Nikkei  225 enjoyed a 0.17% rally.

China's markets experienced a bit of cool down from yesterday's gains as the Hong Kong Hang Seng Index fell 0.60% and the Shanghai Composite declined 0.34%.

South Korea's Kospi Index took a tumble and closed down 1.68%.

Thursday's Financial Outlook

US economic news for tomorrow will include initial jobless, pending home sales, and natural gas and crude oil inventories.

Overseas, Switzerland will report its trade balance, Britain will announce its GDP and GFK consumer confidence survey, and Japan will announce its national consumer price index, jobless rate, and industrial production.

Tomorrow's pre-market earnings announcements include Abercrombie & Fitch (ANF), Flowers Foods (FLO), Orbital ATK (OA), Royal Bank of Canada (RBC), Seadrill (SDRL), Sears Holding (SHLD), Signet Jewelers (SIG), Tech Data (TECD), and Toronto-Dominion (TD).
After the close, we will hear from Avago Tech (AVGO), GameStop (GME), and Ulta Salon (ULTA).
< Previous
  • 1
Next >
No positions in stocks mentioned.
Featured Videos