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Wall Street shrugs off inflation data to extend rally — Overnight Markets

16 Febrero 2018, 07:27 | Bibiana Flor

Weekly jobless claims came in line with market expectations

Weekly jobless claims came in line with market expectations

Economic data is likely to attract attention in the coming days, with reports on producer and consumer prices likely to be in focus amid recent concerns about rising inflation.

Our stock market could easily outperform the US market this year but we need Wall Street to keep on heading higher to ensure panic doesn't get in the way of my expected comeback for both the Oz economy and our stock market.

Rob Haworth, a senior investment strategist at U.S. Bank Wealth Management, said the market's recovery from a negative start earlier in the session was a good sign, but that it remained too soon to predict the market's return to stability.

Shares of technology and banks led the gains in the last session as he Dow Jones Industrial Average gained 253.04 points, or 1.03%, to 24,893.49.

The Dow Jones industrial average rose more than 300 points Thursday.


The Nasdaq composite rose 0.9 percent after falling as much as 0.2 percent. With the likes of Amazon and Google have increased by 2 and 1% respectively with retailers such as Walgreens adding to growth.

U.S. stocks ended higher on Wednesday, notching a four-day winning streak. The Reuters estimate is for prices to have risen 0.4% in January.

Seven of the 11 major S&P 500 sectors rose, with financials rising 2.32 per cent and information technology up 1.95 per cent. (NYSE:QD) Wednesday, soon after a drastic change of 4.45% in the share price was observed and the stock become able to close its trade at $14.56. Also, periodic market drops normally occur roughly once a year. In addition, data revealed that retail sales last month were lower than expected. Chipmakers Broadcom and Qualcomm each climbed after CNBC reported that the companies will meet this week to discuss Broadcom's $121 billion offer to buy Qualcomm. Bullish sentiment among individual investors hit its highest level since mid-January in the American Association of Individual Investors' weekly survey.

Fossil Group (FOSL.O) jumped nearly by 70% as it reported better-than expected quarterly results. The Trump administration has been pushing defense spending aggressively higher. MSCI's broadest index of Asia-Pacific shares except Japan climbed 1.3 percent.

Benchmark 10-year U.S. Treasury yields fell to 2.8876 after hitting a more than four-year peak of 2.944 percent. Conversely, if an ETF's beta is 0.65, it is theoretically 35% less volatile than the market.


Bond prices were little changed.

Wholesale gasoline added 3 cents to $1.71 a gallon. Heating oil fell 2 cents to $1.84 a gallon.

The stock weighed on the energy sector, which lost 0.9 per cent. Perhaps there may be a rose -colored tint to the glass, and this may actually be the beginning of a buying opportunity?

According to finviz data, QD stock's volatility for the week is measured at 5.62%, while for the month it is maintained at 5.40%. Silver jumped 43 cents, or 2.7 percent, to $16.57 an ounce.

NuVista Energy bucked the energy trend to rise 3 per cent to C$7.83 after Eight Capital and Raymond James raised their target prices.


"The core CPI estimate is a modest decrease from last month".



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