Equityworld Future-Stocks closed scored a new record high in late trade on Friday morning (09/12), after the announcement of the monetary policy of the European Central Bank.
The Dow Jones industrials rose more than 100 points before closing 60 points higher, with shares of Goldman Sachs contributed the most to gain. The blue-chip index has now posted gains in 19 of 23 sessions and 13 record closes since the election.
The S & P 500 closed 0.2 percent higher, with the financial sector rose about 1 percent to lead gains.
The Nasdaq composite index advanced 0.4 percent.
The three major indexes, along with small capitals Russell 2000 and S & P Mid Cap 400, all closed at record highs.
US stocks traded in a narrow range for most of the morning, as investors digested the ECB’s decision to keep interest rates stable.
The central bank also extended its quantitative easing program until December 2017, but will reduce purchases to 60 billion euros per month of 80 billion euros. In a press conference, ECB President Mario Draghi said “uncertainty prevailing everywhere,” but added the risk of deflation has largely disappeared.
The ECB is widely expected to announce continuing trillion euro bond-buying program is very large at a meeting on Thursday, but some analysts were surprised by the details of the announcement.
Euro sideways following the ECB’s announcement, trading below $ 1.09 against the dollar before falling 1.4 percent to $ 1.061. Meanwhile the US dollar rose 0.85 percent against a basket of currencies to trade at 101.1.
European countries bond yields soared, with 10-year German Bund yield 0.372 percent, while the yield on Italian 10-year rose to 1.999 percent.
US Treasuries also fell, with the benchmark 10-year yield rose to 2.3944 percent.
In economic news, as expected weekly jobless claims at 258,000.
Investors have been focusing on US economic data and prepare for the Federal Reserve meeting scheduled for next week. According FedWatch tool CME Group, market expectations for a rate hike is above 95 percent.
Meanwhile, in the oil market, US crude oil futures for January delivery rose 2.15 percent to berakhr at $ 50.84 per barrel.
The Dow Jones Industrial Average rose 65.19 points, or 0.33 percent, to close at 19,614.81, the highest rise in shares of Goldman Sachs and stock United Technologies experienced the largest decline.
The S & P 500 rose 4.84 points, or 0.22 percent, to end at 2,246.19, with financials leading the eight sectors of higher and industrial sectors lagging.
The Nasdaq composite index rose 23.59 points, or 0.44 percent, to close at 5,417.36.
Tonight will be Michigan Consumer Sentiment Data released in December indicated increased. If realized, it will strengthen Wall Street.
Analyst Equityworld Futures Research Center estimates that the next movement will be a positive move if the data is Michigan Consumer Sentiment increased. But the meeting will also look at the European Central Bank and the price of crude oil rose.