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Against this backdrop, the S&P 500 has pulled in from an early-session high (2,450.4) not too distant from record territory (2,453.8). Meanwhile, the Dow industrials continue to find support ma
Bу U.S. stocks opened modestlу higher Monday as crude-oil prices rose, with investors looking tо close out thе last week оf thе quarter аnd first half оf 2017. Thе Dow Jones Industrial Averag
The raft of economic data could prove to be the highlight of the day with most of the action among Fed speakers having taken place earlier in the morning. Durable orders, a measure of sales of big-ticket items and a gauge of how busy factories are likely to be in the future, will come in at 8:30 a.m. Eastern, along with the Chicago Fed’s National Activity Index, a gauge of economic activity and inflationary pressures. Later on, the Dallas Fed’s Texas manufacturing Outlook Survey is set for release at 10:30 a.m.
“A sustained break below $1,240 could trigger a move back towards $1,220, which has been a very notable level on numerous occasions this year,” Erlam added.
Meanwhile, oil is in recovery mode, after last week’s tumble that sent crude prices into a bear market.
The upbeat mood premarket comes after stocks finished mostly higher on Friday. In that session, investors scooped up energy shares, battered after crude oil prices
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“Is this a recovery in the early stages? The downtrend channel of the past four weeks is still intact with rallies continuing to be sold into,” said Richard Perry, a Hantec Markets analyst, in a note Monday. “However, it is interesting to see that the support of the November low is yet to be decisively breached.”