S&P 500, Dow Jones, Nasdaq hit record highs as weak jobs bring stimulus
hopes
- The major averages are in record territory as Wall Street focuses more
on the upside potential of more stimulus funds and shrugs off a weakening
labor market.
- The S&P (SP500) +0.7%, Nasdaq (COMP) +0.4%, Dow (DJI) +0.6% are
building on modest gains at the start of trading.
- Rates are joining, as the 10-year Treasury yield is up six basis
points to 0.98%, nearing the 1% that has been a ceiling in previous bond
selloffs.
- While stimulus hopes are rising, there's a been-there-before feeling
lurking. Democratic Rep. Steny Hoyer says the bipartisan relief proposal
of
$908B is "a floor" and that's bigger than the Mitch McConnell proposal
favored by the White House.
- Nine of 11 S&P sector are in the green. The top and bottom are
familiar, with Energy +4% leading and Utilities -0.2% lagging.
- All 10 of the top-gaining stocks in the S&P are in the energy sector.
- Cruise lines have reserved early strength, with Royal Caribbean
biggest S&P decliner. But department stores are holding onto recent
strenght.
|Today, 11:08 AM|3 Comments
hopes
- The major averages are in record territory as Wall Street focuses more
on the upside potential of more stimulus funds and shrugs off a weakening
labor market.
- The S&P (SP500) +0.7%, Nasdaq (COMP) +0.4%, Dow (DJI) +0.6% are
building on modest gains at the start of trading.
- Rates are joining, as the 10-year Treasury yield is up six basis
points to 0.98%, nearing the 1% that has been a ceiling in previous bond
selloffs.
- While stimulus hopes are rising, there's a been-there-before feeling
lurking. Democratic Rep. Steny Hoyer says the bipartisan relief proposal
of
$908B is "a floor" and that's bigger than the Mitch McConnell proposal
favored by the White House.
- Nine of 11 S&P sector are in the green. The top and bottom are
familiar, with Energy +4% leading and Utilities -0.2% lagging.
- All 10 of the top-gaining stocks in the S&P are in the energy sector.
- Cruise lines have reserved early strength, with Royal Caribbean
biggest S&P decliner. But department stores are holding onto recent
strenght.
|Today, 11:08 AM|3 Comments
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