Technology sector rebounded. The blue chip dow index to 18,923. The nasdaq rose 57, and the s p 500 gained 16. Since the election, the best performing sector has been the financials. The rally in this group continue . Bob pisani takes a look. Reporter financials have been on fire since the election, but the rally is losing steam and with good reason. The Biggest Bank Stocks up almost 15 since the election. Morgan stanley, goldman sachs, all hit 52week highs. Its going to be tougher to get those gains from here. The s p Financial Sector trading almost 20 above its 200day moving average. That almost never happens. And its highly Unlikely Bank stocks will keep rising until we get more information on what the Trump Administration plans to do. So banks have been rising for three reasons. Regulatory reform. But its not clear how much of dodd frank will be dismantled and this would only benefit the biggest Money Center Banks for the most part. Second, banks have been going up on rising Intere
Technology sector rebounded. The blue chip dow index to 18,923. The nasdaq rose 57, and the s p 500 gained 16. Since the election, the best performing sector has been the financials. The rally in this group continue . Bob pisani takes a look. Reporter financials have been on fire since the election, but the rally is losing steam and with good reason. The Biggest Bank Stocks up almost 15 since the election. Morgan stanley, goldman sachs, all hit 52week highs. Its going to be tougher to get those gains from here. The s p Financial Sector trading almost 20 above its 200day moving average. That almost never happens. And its highly Unlikely Bank stocks will keep rising until we get more information on what the Trump Administration plans to do. So banks have been rising for three reasons. Regulatory reform. But its not clear how much of dodd frank will be dismantled and this would only benefit the biggest Money Center Banks for the most part. Second, banks have been going up on rising Intere
Technology sector rebounded. The blue chip dow index to 18,923. The nasdaq rose 57, and the s p 500 gained 16. Since the elelection, the bt performing sector has been the financials. The rally in this group continue . Bob pisani takes a look. Reporter financials have been on fire since the election, but the rally is losing steam and with good reason. The Biggest Bank Stocks up almost 15 since the election. Morgan stanley, goldman sachs, all hit 52week highs. Its going to be tougher to get those gains from here. The s p Financial Sector trading almost 20 above its 200day moving average. That almost never happens. And its highly Unlikely Bank stocks will keep rising until we get more information on what the Trump Administration plans to do. So banks have been rising for three reasons. Regulatory reform. But its not clear how much of dodd frank will be dismantled and this would only benefit the biggest Money Center Banks for the most part. Second, banks have been going up on rising Intere
Good morning from me as well. Lets get you up to speed on the wall street action. A nice day for wall street. 1 gains in all three indices. Apple another one of the factors, its carrying through asian trade and helping futures. 16 points on the dow and 1. 5 points on the nasdaq. The s p up by eight points. Lets have a look at the chart of the day. Oil on supply discussions. Eia saying share output is expected to drop in june for an eighth consecutive month. And also fires burning around the canadian oil supplies of Fort Mcmurray up again. Up ten basis points but the big move came yesterday with up 3. 3 . Settling at its highest since the 3rd of november. And today a high of 47. 85. Oil prices remarkably strong. Inching towards that 50 a barrel. Its helping markets everywhere. Take a look at asia over night. We did see a gain after the nikkei went to a oneweek low. Also saw gains in hong kong with shanghai comp did close lower by 0. 25 . Gary fink of black hawk make something warnings.
Stocks rose sharply and once again it was the Financial Sector that led the way as it has on and off over the past three months. Now yesterday, bank stocks sand bagged the market. Today they lifted it. On unconfirmed reports that Deutsche Bank has reached a deal with the u. S. Justice department. On that story in a moment. Meantime, the dow jones indust avera finished the session today up 164 points at 18,308. Nasdaq added 42 and the s p 500 gabed 17. Todays rally closed out an unusual third quarter, one that saw turbulence created by the brexit vote early on, fresh record highs later and continued uncertainty a of the three major indexes, the nasdaq was the big winner for the july to september period, up nearly 10 , as you see there. But now we start the fourth qu of 2016, and as bob pisani reports, it could start to get really interesting for if youre an average investor, you probably dont want volatility in the stock but professional traders like volatility, because they make money