S&P500 1.43%(2,415.82); NASDAQ +2.08% (6,210.19); DJIA +1.32% (21,080.28)
This week’s reports:
- Q1’s 2017 GDP Annualized (prelim.) was +1.2% versus Q4’s 2016 +0.7%.
- May’s Markit Manufacturing PMI (prelim.) fell to 52.5 from April’s 52.8. Markit PMI Com-posite (prelim.) rose to 53.9 from April’s 53.2. Markit Services PMI (prelim.) fell to 54 from April’s 53.1.
- April’s Durable Goods Orders fell by 0.7% from March’s upwardly revised +2.3%. Durable Goods Orders ex Transportation fell by 0.4% from March’s upwardly revised +0.8%.
- April’s Wholesale Inventories (prelim.) fell by 0.3% from March’s downwardly revised +0.1%.
- May’s Michigan Consumer Sentiment Index fell to 97.1 from April’s 97.7.
- April’s New Home Sales fell to an annual pace of 0.569M from March’s pace of upwardly revised 0.642M. Existing Home Sales fell to an annual pace of 5.57M from March’s pace of downwardly revised 5.70M.
- Initial Jobless Claims for the week ending May 19th rose by 1K to upwardly revised +233K. Continuing Jobless Claims for the week ending May 12th rose by 24K to upwardly revised +1,899K.
- US stocks rose advanced for a sixth straight day ahead of a key meeting of oil producing countries.
- The benchmark advanced on Wednesday as minutes from the Federal Reserve’s last meeting showed officials unruffled by recent signs of economic weakness, boosting speculation of a June rate increase.
- The S&P 500 rose 0.4 percent to a record 2,415 in New York. It’s rallied more than 2.5 percent in the past six sessions.
- The Dow Jones Industrial Average climbed to 21,080 as it bears down on its March 1 closing record.