The Day Ahead: Markets Riding High Before Holiday
ByPosted To: MND NewsWire
Markets have been gaining for four straight days and the futures market suggests they’re not done the holiday cheer yet. The ahead will probably see light trading with markets closing early today and remaining closed for Christmas Day tomorrow. But the data will be significant with durable goods being the key release of the week. Two hours before the opening bell, futures on the Dow are trading 23 points higher at 10,427 and futures on the S&P 500 are up1.90 points to 1,117.50. Meantime, WTI Crude oil is roughly flat at $76.68 per barrel and Spot Gold has climbed $15.83 to $1,103.38 per ounce. In overnight news, the Treasury announced its receipt of $45 billion in TARP repayments from Wells Fargo and Citigroup. Citigroup also canceled an agreement with the government regarding losses…(read more)