Nasdaq 100 Juggernaut Jumps, Leading Stock Indexes higher
A friendly November housing starts report and strong corporate earnings by Nike and Adobe Systems gave Nasdaq 100 futures [NDH0>NDH0] the excuse they needed to gap open 78 points to a new high. The index came back to fill the gap but still finished the day up 32.00 at 3414.00.
Four positive signals from the HREF=”https://tradingmarkets.com.site/eminis/indicators/actionsigs/mbias.cfm”>Market Bias Indicators also gave a strong hint that stock index futures might trade higher. March Dow futures [DJH0>DJH0] rose 47.0 to 11,427.0 and March S&P futures [SPH0>SPH0] gained 7.30 to 1444.50.
March T-bonds [USZH0>USH0] probed new one-month lows, falling for a fifth straight day, to end down 6/32 at 91 21/32.
March dollar index futures [DXH0>DXH0] rose on strong equity prices and on the reassessed view that the robustness of the European economy is not as sound as recent economic reports have led traders to believe. The dollar rose .36 to 101.60.
Swiss francs [SFH0>SFH0] fell the most against the dollar, resuming their strong down trend (ADX of 31) after a two day pullback. The franc closed .0045 lower at .6365.
The energies ended mixed. January crude [CLF0>CLF0] fell .31 to 26.52. Unleaded gas [HUF0>HUF0] slipped .0010 to .7320, while heating oil [HOF0>HOF0] edged out a .0005 gain to .6880.
New York metals traded in a narrow range and closed mixed. March silver [SIH0>SIH0] added 1.0 to 526.0, and copper [HGH0>HGH0] lost .15 to close at 83.90.