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Stocks Return with a Vengeance After Friday's Sell-Off


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

Bulls retook control today after taking a major hit on Friday.

The People's Bank of China announced that it would lower its reserve-requirement ratio by 1% in an attempt to boost liquidity and economic activity. Chinese stocks finished lower today despite the cut.

On Friday, Chinese markets experienced a sell-off after the Chinese Securities Regulatory Commission (CSRC) instituted new rules to limit margin trading.

Greece announced that its central bank would seize cash from local governments, looking to raise an estimated $2 billion, according to Bloomberg. Greek bond yields jumped to their highest levels since the government restructuring in 2012. Despite the news, European stocks finished higher today, with China's stimulus plan helping.

Oil rallied on news reports of an decrease in US delivery point stockpiles, as well as escalating Middle East tensions. China's latest round of stimulus could also have a positive impact on demand.

The S&P 500 bounced back hard from Friday's decline with a 0.9% drive up to 2100.40.

Transports, cybersecurity, technology, and utilities were among todays best-performing sectors.

The widely-watch biotechnology group underperformed by a significant margin, with the NASDAQ Biotechnology Index ETF (IBB) rising just 0.4%

Morgan Stanley (MS) shares were up 0.6% after a better-than-expected earnings report. Profits were up 10.1% year-over-year, and the company boosted its quarterly dividend. However, banks stocks as a whole underwhelmed.

Shares of index heavyweight Apple (AAPL) rose 2.3% to $127.60 as investors grew more optimistic towards its new Watch lineup. KGI Securities analyst Ming-Chi Kuo said that current pre-order forecasts are conservative, and that worldwide shipments could hit 2.3 million units by the end of May.

Additionally, research firm Think Big Analytics believes that more than 3 million units have already been sold by Apple, and that the Watch will become the company's most profitable product line in its history.

Tuesday's Financial Outlook

There are no US economic reports on the calendar.

Overseas, we will see Germany's ZEW Economic Sentiment Survey, Australia's CPI, and China's Leading Economic Index.

Tomorrow will feature a slew of major earnings reports.

Before the opening, we have Baker Hughes (BHI), Credit Suisse (CS), Harley, Davidson (HDI), Kimberly-Clark (KMB), Lockheed Martin (LMT), Manpower (MPWR), SAP (SAP), Travelers (TRV), United Technologies (UTX), Verizon (VZ), and Wal-Mart (WMT)

After the close, we have ACE Limited (ACE), Amgen (AMGN), Broadcom (BRCM), Chipotle (CMG), Discover Financial Services (DFS), Intuitive Surgical (ISRG), Stryker (SYK), and Yum Brands (YUM)

Twitter: @T3Live
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