In a volatile morning session, the three major indices are now in the green while the U.S. economy continues to generate jobs and growth at a steady pace, with good data on consumer confidence and investment according to the Federal Reserve's semi-annual report. Although there are few indications of a liquidity crisis in the fixed-income market, there are not any problems with valuations of financial assets. Notwithstanding, the Fed highlighted some long-term problems stemming from weak productivity growth.
The Dow Jones Industrial Average advanced 0.70 points to 21,415,05. The S&P 500 index jumped 0.04% to 2,426.21 while the NASDAQ Composite climbed to 6,156.76.The yield on 10-year U.S. Treasury notes is up by 2.38%, its highest level in the past two months.
Morning movers
Pfizer Inc. (PFE, Financial), Staples Inc. (SPLS, Financial), Marathon Oil Corp. (MRO, Financial), Regions Financial Corp. (RF, Financial), Hewlett Packard Enterprise Co”‹. (HPE, Financial), Freeport-McMoRan Inc. (FCX, Financial), Wells Fargo & Co.”‹Â (WFC, Financial), Huntington Bancshares Inc. (HBAN, Financial), ONEOK Inc”‹. (OKE, Financial) and Halliburton Co. (HAL, Financial).
Top gainers
D.R. Horton Inc. ”‹(DHI), Applied Materials Inc. (AMAT), Lennar Corp”‹. (LEN), Lam Research Corp. (LRCX), Qorvo Inc. (QRVO), Incyte Corp. ”‹(INCY), Cooper Companies Inc. (COO), Delphi Automotive PLC (DLPH), Alaska Air Group Inc. (ALK) andNetflix Inc. (NFLX).
Top losers
L Brands Inc. (LB), Chesapeake Energy Corp. (CHK), Hess Corp. (HES),Devon Energy Corp. (DVN), O'Reilly Automotive Inc. (ORLY),Conagra Brands Inc. (CAG), SCANA Corp. (SCG), Transocean Ltd. (RIG), Costco Wholesale Corp. (COST) and ONEOK.
Europe
Europe's major stock markets are closing the day with gains. In London, the FTSE 100 yielded 0.39%; the Dax of Frankfurt 0.62%, the CAC 40 of Paris 0.57%; and the IBEX 35 of Madrid 0.29%.
Disclosure: Author holds no positions in any stocks mentioned.
