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Friday, 16 April 2021

Stock futures are flat in overnight trading after Dow closes above 34,000 for the first time


End of crisis or too much cash or leverage up rotting on hand so better to FOMO then letting it rot farther???

 Stock futures were little changed in overnight trading on Thursday after the Dow Jones Industrial Average crossed the 34,000 threshold for the first time ever.

Futures on the Dow Jones Industrial Average gained 10 points. S&P 500 futures traded near the flatline and Nasdaq 100 futures dipped 0.2%.

During regular trading hours, the blue-chip Dow rose 300 points to top the 34,000 milestone amid blowout economic data. The S&P 500 and the Nasdaq Composite gained more than 1% each on Thursday.

“The Dow’s push through 34,000 is a signal that investor appetite for future growth prospects is spilling over into more value-oriented names,” said Peter Essele, head of portfolio management at Commonwealth Financial Network. “The demand for industrials and more cyclically-oriented areas should continue as the vaccines take hold and earnings potentially come in higher than originally expected.”

Investor sentiment was boosted by economic data on Thursday that pointed to a rebound in consumer spending and the jobs market.

Retail sales jumped 9.8% in March as additional stimulus sent consumer spending soaring, topping the Dow Jones estimate of a 6.1% gain.

Meanwhile, U.S. jobless claims dropped to the lowest level since March 2020. The Labor Department reported 576,000 first-time filings for unemployment insurance for the week ended April 10. Economists polled by Dow Jones expected a total of 710,000



8 comments:

  1. Ironic sense, rather have cash rotting then salted fish 🐟 rotting.

    After so many years of course have some rotting salted 🐟 yet unwilling to 🗑️.🤔

    ReplyDelete
  2. More than once after🗑️ salted 🐟, 🐟 suddenly magically came alive.

    Leave 🐟 alone, 🐟 just stay rotting lol.

    Such is life🤔

    ReplyDelete
  3. Hi Uncle8888,

    Maybe more americans using their $1,400 stimulus cheques to punt? LOL.

    Dow 36,000 is on the horizon ... better late than never! 🤣

    (The infamous book "DOW 36,000" was published in 1999 which predicted the Dow Industrials will hit that level before 2004.)

    ReplyDelete
  4. [LONDON] London's FTSE 100 rose above the 7,000-mark on Friday for the first time since the pandemic pummelled financial markets last year, as speedy vaccine rollouts and government policy support lifted optimism about a stronger economic recovery.

    The blue-chip index climbed 0.4 per cent to 7,008.40.

    Heavyweight industrials, mining, and banking stocks that stand to benefit from an economic re-opening gained between 0.8 per cent and 1.2 per cent.

    Globally, sentiment was bolstered after a batch of Chinese and US economic data helped investors price in a solid recovery from a coronavirus-led slump.

    ReplyDelete
  5. Dow climbs 160 points to another record, posts 4th straight week of gains

    ReplyDelete
  6. Slowly selling my US 52 Week's High lol.

    ReplyDelete

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