Market Update for 22nd Sep 2016 – Another record!

By Markus Heitkoetter

Stocks were off to the races today!

Yesterday’s Fed decision helped fuel a global rally. And with European markets rallying overnight, U.S. stocks opened the day higher.

Stocks continued to rally in early trading, but then retreated in the afternoon. The afternoon retreat erased some of the early gains, but it wasn’t enough to do any real damage.

By the end of the day stocks were trading back near highs of the year. And the NASDAQ finished at record levels for the 2nd day in a row.

Here’s where the major indices ended the day:

  • The S&P finished with a 0.7% gain. Up 14 points, the S&P ended at 2,177.
  • The DOW ended 0.5% higher. Adding 99 points, the DOW closed at 18,392.
  • The NASDAQ was up 0.8%. With a 44 point gain, the NASDAQ finished at 5340.

Crude Oil (CL) finished higher for the 3rd day in a row.

With a 2.2% gain, CL ended at $46.33.There are no major items on tomorrow’s economic calendar.

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