Daily Recap
US shares again surged higher today, on positive earnings and economic data, plus perhaps a better feeling about the chances for tax reform passing this year. Tech shares were leaders today, as the NASDAQ rose over 1%, compared to rises in the 0.65% range for the Dow and S&P. Per the Chicago Fed, the national activity index rose nearly twice what was expected. Used home sales also jumped, to a rate of almost 5.5 million on an annualized basis.
Foreign markets set a positive tone before the NY opening. The Asia Dow gained 0.57% as all major exchanges were higher. It was about the same story in Europe, with the STOXX 600 up 0.44% and only Spain losing ground out of the five largest markets. Despite something of a political crisis in Germany, Volkswagen helped its DAX index rise the most – up 0.83%. Western Hemisphere markets followed European and US ... Log in or subscribe to continue reading.
