Stocks Rally Back On Lower Yields, Crude
The major indices closed higher after a volatile session that saw
oil prices back off and bond yields stabilize. The Nasdaq and S&P
both gained 0.6%, while the Dow added 0.4%.
Crude oil futures for July delivery fell
slightly by 0.4% to $68.61 per barrel. Gold futures for August
delivery fell 0.9% to $654.20 an ounce.
Around Europe, Germany’s DAX Index lost 1.6% to close at 7,964.71,
France’s CAC 40 Index fell 1% to 6,029.79, and Britain’s FTSE 100
Index lost 0.8% to 6,596.00.
Today’s
PowerRatings Heat Map continues to show widespread price action that has led to lower
prices in the short term. The sectors to avoid are Drugs, Electronics,
Metals/Mining, and Manufacturing.
Click here to view all 33 Heat Map sectors.
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com