Wall Street Rally Rolls On
U.S. stocks continued to run higher with the
Dow and S&P gaining 0.5%, while the Nasdaq posted gains of 0.7%.
Today’s rally came despite a Labor Department report that showed a
higher than expected rise in inflation.Â
Crude oil futures for July delivery added 2%
to $67.58 per barrel after a government report showed gas
refineries cut operating rates and that Iran would not halt its
nuclear program. Gold futures for August delivery rose 0.5% to $655.90 an ounce.Â
Around Europe, Germany’s DAX Index rose 2.2% to close at 7,849.16,
France’s CAC 40 Index 1.9% to 6,047.23, and Britain’s FTSE 100
Index rose 1.4% to 6,649.90.
Today’s
PowerRatings Heat Map continues to be neutral with no sectors showing
overwhelming strength or weakness.Â
Click here to view all 33 Heat Map sectors. Â Â
Click here to see our new list of indicators that includes
Gaps Down 5% or More,
2-Period RSI Below 2,
Stocks Up 10% or More. Historically proven edges make
these a great place to start making a watch list.Â
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com