Closing Market Wrap 12/15/17: ‘Hannibal ad portas’.

In European Equity Markets stocks fell on Friday, weighed down by weakness in the heavyweight banking sector and a decrease in retail stocks following a disappointing trading update from fashion brand H&M.

Silver futures rose 0.85 percent to $16.07 a troy ounce.

In US Equity Markets  major indexes scaled new heights on Friday, with all the major sectors pushing higher as the long-awaited bill to lower corporate tax rates enters the final stretch.

The Dow was up 0.6 percent, at 24,655.56.

The S&P 500 was up 0.84 percent, at2,674.4.

The Nasdaq Composite was up 0.99 percent, at 6,924.30.

Financial stocks rose 1.11 percent, led by gains between 1.2 percent and 1.7 percent in the six biggest U.S. banks.

While the technology sector also gained, one notable decliner was Oracle The software maker fell 4.34 percent after it gave a disappointing forecast for its cloud business.

CSX fell more than 8 percent after the railroad said its Chief Executive Hunter Harrison was taking medical leave, amid its controversial turnaround plan.

In Bond Markets  Greek 10-year government bonds yields hit an 11-year low on Friday, as recent upbeat economic data and a deal struck with its lenders encouraged investors to snap up Greek debt.

Italy’s 10-year bond yields, trading at 1.80 percent , looked set to end the week around 21 basis points higher, its biggest weekly jump since early July.

Benchmark 10-year notes last fell 9/32 in price to yield 2.3762 percent, from 2.346 percent late on Thursday.

The 30-year bond last fell 5/32 in price to yield 2.717 percent, from 2.71 percent late on Thursday.

-R.W.N II

Have a nice weekend. (Self)

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