Quick Recap of Thursday’s Session:
Stocks finished significantly higher on Thursday as the S&P 500 snapped its 4-day losing streak. Major indices started the day rocketing higher following Mario Draghi’s comments to an investor group this morning that the ECB would do “whatever it takes” to save the euro. European stocks blasted higher, and U.S. stocks followed suit. Also lifting sentiment was a better than expected Durable Goods Orders figure and an improvement in Weekly Jobless Claims, though the majority of Thursday’s strength has been attributed to Draghi. Major indices were choppy in the morning, selling off to intraday lows around Noon EST. However, the bulls picked it up from there and rallied through the rest of the session and into the close. Major indices finished slightly off of intraday highs as stocks were sold hard in the final few minutes before the close.
S&P 500 +1.65%, NASDAQ +1.37%, DJIA +1.67%, Midcaps +1.46%.
Looking Ahead to Friday:
- Overnight we get the EU Harmonized CPI from Germany.
- Before the bell here in the U.S. we get U.S. Q2 GDP (advance) at 8:20am EST.
- Shortly after the open at 9:55am EST is Michigan Consumer Sentiment.
- On the earnings front, there are a few high profile announcements before the bell on Friday, most notably energy giant Chevron (CVX).
S&P 500 - Intraday
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