Will Washington continue to weigh on markets?
The Stock Swoosh’s Melissa Armo and Belpointe Asset Management chief strategist David Nelson on how geopolitical events are impacting the market and what stocks investors should watch.
The Dow Jones Industrial Average extended its longest winning streak in almost three months, lifted by gains in energy shares as investors continued to weigh President Donald Trump’s decision to exit from the Iran nuclear deal.
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Dow Jones futures were rising by 0.12%. The S&P 500 added 0.19% and the Nasdaq Composite was up 0.20%.
U.S. crude was at $71.63 a barrel, up 0.69%.
Big gains in energy and financial stocks lifted the major averages Wednesday, sending the S&P 500 back into positive territory for the year.
The Dow Jones Industrial Average jumped 182.33 points, or 0.75%, to 24,542.54. The S&P 500 rose 25.87 points, or 0.9%, to 2,697.79. The Nasdaq Composite gained 73 points, or 1%, to 7,339.91.
For the markets, the big news was President Donald Trump’s announcement on Tuesday that the U.S. would pull out of the Iran nuclear deal.
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Boeing advanced nearly 2% after its CEO played down any loss in revenue as the U.S. restarts sanctions on Iran.
Among the Thursday morning earnings reports: Tribune Media, Revlon, Echostar and Duke Energy. After the bell, investors will hear from News Corp, TIVO and Yelp.
On the economic calendar, reports are due on consumer prices, weekly jobless claims and the federal budget.
In Asia, Japan’s Nikkei closed up 0.4%.
China’s Shanghai edged up 0.2%.
Hong Kong’s Hang Seng index finished the day gaining 0.9%.
In European trading, London’s FTSE was higher by 0.15%. Germany’s DAX climbed 0.56% and France’s CAC added 0.06%.
FOX Business’ Charles Brady, Leia Klingel and Matthew Rocco contributed to this article.
