The majorities of local U.S. stocks are positive yesterday and continues to linger their bullish run today as the latest tax plan remains in focus. Most of the local indices such as the Dow Jones Industrial Average and Nasdaq were all steadily hanging on the greens.
One more thing that buoyed the stocks was the amazing figures from the freshest data that the companies announced, coupled with the great earnings report. Although reports also came in as the dollar continues its surge later that day, prompting the stocks to recede by incremental amounts before running bullish once again.
Although most of the local stocks were bullish on the majority of the market session, both the S&P 500 and the Nasdaq managed to garner a decent amount of increase. Both stocks were relatively high before easing on the massive tech sell-off yesterday.
The top performer amongst the local stocks was the Dow Jones; the DJIA managed to increase by a massive 300 points and above n yesterday’s market. The stock managed to peak at 300 points before easing to a total of 58 points increase just before the market closes and, the DJIA futures were also up by a total of 71 points.
On the other hand, both of S&P 500 and the Nasdaq composite managed to dip after having a stellar performance on yesterday’s market; both stocks suffered from a massive tech-stock sell off just before the market closes.
Looking at both stocks futures, the S&P 500 managed to increase by a total of 5 points while the Nasdaq also managed to increase by a total of 4.5 points. Looking at today and yesterday’s market, the analysts and investors are currently looking to shift their focus on the economic data and figures, and the upheaval of corporate news.
More Figures and Data
Looking at more figures from yesterday’s figures, the Automobile sector or the AutoZone managed to score stronger-than-expected earnings results which resulted in the stock increasing. Meanwhile, the Toll Brothers’ stock was down due to lackluster quarterly results.
Meanwhile, the looking at the economic data, the U.S. international trade deficit was reported to be at $48.7 billion in the month of October. The Serviced Purchasing Managers Index or PMI data is still expected to be reported along with the non-manufacturing ISM report on business and the Quarterly Financial Report or QFR.
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