Late Day Rally Pushes Stocks Higher
The U.S. stock markets have overcome early
rangebound trading to close to the upside. The Dow hit a new record intraday
high of 12,681 led by Dupont
(
DD |
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PowerRating) and Boeing
(
BA |
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PowerRating). DD shares rose
2%, while BA shares gained 1.7%Â
The price of oil saw substantial
volatility over the course of the trading session on Thursday, bouncing back and
forth across the unchanged line. Crude for March delivery eventually ended the
session down $0.84 at $57.30 a barrel.
The price of gold moved higher over the
course of the trading session on Thursday, adding to the gains that were posted
in the two previous sessions. Gold for April delivery closed up $5.10 at $663 an
ounce, although it was well off its best level of the day.
The
PowerRatings
Heat Maps*
from Wednesday’s close is showing action that has historically led to weakness
in the overall markets. The Energy and Metals and Mining sectors look the most
vulnerable.
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com