Quick Recap of Thursday’s Session:
Stocks finished decidedly higher on Thursday as major indices snapped their 7-session long sideways crawl. Stocks didn’t get off to a very hot start as weaker than expected Housing Starts and a disappointing Philly Fed Index weighed on setiment. However, major indices would get a major push throughout the day from a pickup in sentiment surrounding the Euro zone (Spanish yields on the 10-year fell to 6.52%). The bulls were in control for most of the session and pushed the S&P 500 up above the range it has struggled with for the past 7 sessions. A weak close put major indices off of their intraday highs, but still well into positive territory.
S&P 500 +0.71%, NASDAQ +1.04%, DJIA +0.65%, Midcaps +0.94%.
Looking Ahead to Friday:
S&P 500 - Intraday
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S&P 500 - Last 12 Months