S&P 500, Nasdaq eke out records as Apple gains

S&P 500, Nasdaq eke out records as Apple gains

S&P 500, Nasdaq eke out records as Apple gains

US stock indexes bobbed a bit further into record territory Tuesday, May 9, 2017, joining a smooth rise higher for markets around the world. The S&P 500 fell less than 0.1% and the Nasdaq Composite gained 0.3% after both indexes inched higher Monday to settle at records. It slipped 2.46 points, or 0.1 percent, to 2,396.92. But Coach rose $2.05, or 4.8 percent, to $44.71.

Energy stocks (-0.9%) dragged along the bottom of the 11 S&P industry groups, as US crude oil fell 1.2% to $45.88/bbl; utilities stocks also declined 0.9%.

A relief rally swept Wall Street and European stocks following Emmanuel Macron's victory in the French presidential election on Sunday.

DoD Contemplating Additional Troops in Afghanistan
A US soldier is seen near the site of a USA bombing in the Achin district of Jalalabad, east of Kabul, Afghanistan. The military action has succeeded in reducing Hasib's fighters to roughly 700.

Endo International, Office Depot and Marriott also rose after reporting better-than-expected quarterly earnings. Last week's solid jobs report gave reassurance that the US economy is improving despite a weak showing at the start of the year.

"Given world events, common sense would say there should be at least average volatility in daily price movement on the S&P 500". The Dow Jones Industrial Average closed at 21,006.94-a gain of 0.26%.

Some pharmaceutical stocks fell with Eli Lilly dropping 2.2 per cent, Celgene 3.3 per cent and Mylan 1.4 per cent. Sinclair fell 83 cents, or 2.2 percent, to $36.13.

Australia plans major spending plus surplus in 3 years
Dr Hewson said he thought it would be a very political document, addressing pressure points the Turnbull government now faced. The government is planning on saving $3.7 billion by cutting university funding and increasing fees for students.

The euro fell to $1.0869 from $1.0930 late Monday.

Hong Kong's Hang Seng Index traded higher by 0.3%. The dollar rose to 114.28 Japanese yen from 113.07 yen, and the British pound slipped to $1.2927 from $1.2943. That's as the Energy Information Administration forecast USA crude production would gain more than previously expected this year. Brent crude, the worldwide standard, fell 61 cents to $48.73 per barrel. On the Nasdaq, 1,279 issues rose and 868 fell.

Wednesday's calendar offers the weekly Mortgage Bankers' Association's applications index at 7 a.m. ET, April import and export prices at 8:30 a.m., with the April Treasury Budget at 2 p.m. Rosengren speaks again at 12:30 p.m. while Minneapolis Fed's Neel Kashkari has a chat on financial industry ethics at 1:20 p.m.

Marquette Rep. arrested on second drunk driving offense
My thoughts and prayers are with his wife and children at this very hard time. "They deserve privacy and respect as they grieve". He later pleaded guilty to a charge of operating while intoxicated, first offense, and the "super drunk" charge was dropped.

Europe's markets finished higher, but oil and gold prices lagged almost 1% as the dollar hit a two-month high against the yen and the 10-year yield notched multiweek highs.

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