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2018 Kicks Off With an Excellent Week for Stocks!

by | 5 Jan, 2018

It's GO time on Wall Street!

It’s GO time on Wall Street!

Dow 25,000 powers global rally

The key narrative this week is one of improving investor sentiment globally.

Stocks are off to a brilliant start in 2018 and European markets followed a stellar performance from US equities last night by rising across the board at the open today with the FTSE100, DAX, CAC40, FTSE MIB, Stox50 and IBEX 35 in positive territory.

Asian markets finished higher at the close too, with a bullish Nikkei 225 in Japan continuing to make gains despite already adding 3% in a single day yesterday!

The Dow Jones currently sits at 25,128.97 notching a 0.20% gain in early trading, while the S&P500 and Nasdaq moved up 0.27% and 0.43% respectively. Under Armour, CVS Health Corp, Xilinx Inc, Paypal Holdings Inc and Carmax Inc were the largest risers on the S&P500. Dow stocks moved up but by less, with UnitedHealth Group Inc, Cisco Systems Inc, Microsoft and Apple leading the charge, all gaining between 1% to 1.5%.

In the UK the FTSE100 traded at a record high, rising to 7,277 points at its peak from 7,691 when the market opened. Centrica stock was the top performer after Credit Suisse analysts upgraded the stock to a ‘buy’, sending shares up by 2%.

Retailer Next also continued its momentum from earlier in the week when it posted greater sales over the Christmas period, rising by 2.09% Friday.

Commodities and forex

Gold and oil prices were on the back foot today looking rather volatile despite solid gains over the week so far as we move into the middle of trading for European markets and the open for American indices.

The Pound was one of the strongest currencies as it rose against both the Dollar and Euro.

Jobs data

The only bad news concerned the latest non-farm payrolls today. Eagerly awaited jobs data undershot expectations, as payrolls increased by 148,000 in December against estimates of 190,000. Most predictions from major banks were off by a massive margin!

The biggest gains by sector were for healthcare (31,000), construction (30,000) and manufacturing (25,000) while averagely hourly earnings were up 2.5%.

The retail sector in particular did struggle during that month. The data showed a loss of 20,000 jobs across the sector even though December is usually the busiest month for retail firms because of Christmas. This could be seen as further proof that online shopping is taking a major chunk out of high-street businesses. This is particularly staggering when you look at today’s data from a yearly scale – retail added 203k jobs in 2016, but lost 67,000 in 2017 – a bitter reversal of fortunes.

Regardless of negative news, here’s a look at the fantastic gains for major indices across Europe, the US and Asia this week. Lucky shareholders!

Under Armour Stock Suffered

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ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

 

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