Perfect Record for the Bulls!

Picks of the Day January 5,2018.

Perfect Record for the Bulls!

Wall Street opened the year strongly; the S&P 500 closed above the 2,700 point level for the first time ever on Wednesday, the NASDAQ trading past the 7,000 point level a day earlier. Both indexes recorded additional highs yesterday.The Dow Jones broke up the 25,000 point level for the first time ever on Thursday, while the other large stock indexes hit additional closing highs, supported by strong global economic figures that have stretched the winning streak on the American stock exchange year-to-date.

Strong manufacturing and service sector figures from the world’s biggest economies set the tone on Wall Street on Thursday, while other figures showed that the private employment sector in the U.S. took a step forward, registering more hires last month. Today brings with it the official December employment report.

Daily Summary: The Dow Jones rose 0.61%, the S&P 500 advancing 0.4%. The NASDAQ tacked up 0.18%.

Financial stocks paved the way on Thursday, Wells Fargo (WFC) rising 1.3%, J.P. Morgan (JPM) jumping 1.4%. Goldman Sachs (GS) rose 1.4%. The gains came against the backdrop of Credit Suisse’s upgrade of 6 banks. Goldman Sachs also expressed optimism about the banking sector. S&P 500 are expected shortly to start releasing their Q4 results, J.P. Morgan (JPM) up this coming week.

One of the stocks that stood out in yesterday’s trading was Macy’s (M) which fell 3.3% after reporting only moderate holiday sales growth, while announcing that it would be closing stores and firing thousands of workers this year. Other department stores also fell substantially yesterday.

Intel (INTC) continued falling, shedding another 1.8% yesterday, investors now concerned about the company’s financial responsibility in light of the large security flaw that affects 90% of the world’s computers. Its competitor, AMD, soared 4.9%.

Trading volumes fell despite many a storm – and frigid weather – which led to ongoing power outages and transportation problems in the North East. About 7.0 billion shares changed hands on U.S. exchanges, compared to the 6.3 billion average over the last 20 trading days.

Friday’s Hot Stocks: INTC, SONC, CNET, PSTM, CALM, STZ

Today’s Picks – Day Trading!

New York Strategy Swing