By Markus Heitkoetter
Stocks were higher across the board today, making another push towards all-time highs.
The S&P ended the session 11 points higher with a.5% gain. With today’s close of 2016.63 the S&P is just 13 points away from its all-time high.
The DOW was up .4% with a 76 point gain. Today’s close of 18112.61 brings the index further away from the 18,000 mark, a level that has acted as strong short term support and resistance.
Meanwhile the RUSSELL led the major indices with a .8% gain. Today’s move brought the RUSSELL to a new all-time with a close of 1275.35. The NASDAQ has outperformed the major indices this year, but today’s move higher puts the RUSSELL even with the NASDAQ with a 5.8% yearly return.
The NASDAQ joined the bull party today with a .7% gain. Today’s close of 5011.02 puts the NASDAQ 38 points away from its all-time high, a level set back in 2000 during the peak of the dot com era. Today’s gain is also the 9th consecutive winning day for the NASDAQ, the longest win streak since 2012.
The energy markets were a big focus today. Crude Oil Inventories were released at 10:30am ET and the commodity took off. With inventories coming in at 1.3 million barrels vs a 3.5 million estimate, Crude Oil rallied and ended the day with a 5.54%.
Earnings helped JP Morgan (JPM) yesterday, and today the rally continued. JPM ended the day with a 1.86% gain and close of $64.21
With a PowerX Method Buy Signal on 9th Apr 2015, PowerX traders had an opportunity to close the trade at an ADR Profit Target of $63.88.