(As of 7:25 AM PST)
What a difference a day makes! Stocks are up sharply this
morning following the lead of strong foreign equity markets overnight and
rebounding oil prices. All of the major European indices ended in the positive
as did the Asian markets and oil is up over 2% in early trading. The final
trading days of 2015 will determine where the markets end up for the year.
After the close on Monday, the Dow was down 1.7% year to date and the
S&P500 was nearly break even. Movement like we are seeing today could move
both indices into positive territory for the year. It’s a short week with the
holiday on Friday and economic data is light, so oil continues to be the
major market mover. There was some good news from the light economic calendar
already this morning. Home prices rose for the three-month period ending in
October which was stronger than in September and consumer confidence rose in
December. Maybe Santa is going to show up after all.
No comments:
Post a Comment