Market Open: Stocks Off To Good Start U.S. stocks surged at the start on Friday as investors bet on further stimulus from central banks and corporations including General Electric and Morgan Stanley reporting profits that topped expectations. Morgan Stanley gained in early New York trading after the investment bank tallied third-quarter earnings that beat estimates. General Electric climbed after its quarterly profit exceeded expectations. The Commerce Department on Friday reported new-home construction climbed 6.3 percent in August, signaling improvement in the U.S. residential real-estate market. On Thursday, St. Louis Federal Reserve Bank President James Bullard said the central bank should think about postponing the end of its bond purchases. The Dow Jones Industrial Average opened sharply higher, as did the S&P 500 and the Nasdaq. The dollar gained against the currencies of major U.S. trading partners and the yield on the 10 year Treasury note used to figure mortgage rates rose 3 basis points to 2.188 percent. Oil futures were up 54 cents at $83.25 a barrel and gold futures dropped $2.50 to $1,238.70 an ounce. On Thursday, U.S. stocks ended little changed, with the Dow industrials recouping much of a 206-point deficit, as investors balanced worries about global growth against mostly better-than-expected U.S. earnings and economic reports. At 9:55 am the October consumer sentiment number gets released. Today should be quite interesting. There is a different feeling about the market this morning. Can we maintain that positive vibe throughout the trading day? Stay tuned. - Steven Sitkowski To learn more about Options Trading please visit: protraderinstitute
Posted on: Fri, 17 Oct 2014 14:15:48 +0000
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