The Nasdaq climbed 34.18 (+0.69 percent) to finish at 5,022.82, while the S&P 500 closed at 2,152.14, up 14.98 (+0.70 percent) a day after breaking its previous all-time high.
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On Wall Street, the Dow Jones industrial average and S&P 500 index both broke all-time highs, with the Dow up 120.74 points to 18,347.67 – surpassing its last record close in May 2015.
TOKYO – Asian markets outside Japan gained another third of a per cent to come within a hair’s breadth of the year’s highs from April, while European shares rose 0.2 per cent, on course for their fifth straight day of gains. The Nasdaq composite was down 13 points, or 0.3 per cent, at 5,010.
The new mark for the S&P 500 is 2,152.14, a 15-point improvement on its Monday close. The index, which is heavily weighted with technology and biotech stocks, erased its losses for the year Tuesday. The dollar index, which tracks the performance of the U.S. currency against a basket of six rivals, declined 0.3% to 96.15, where it is considered neutral according to the daily momentum indicators.
The stock gains show that investors are willing to take on more risk.
OIL: Benchmark U.S. crude fell 54 cents to $46.25 per barrel in NY while Brent crude, a standard for Global oil prices, lost 72 cents to $47.75 a barrel in London. In July second week, the yield on the 10-year Treasury note dived to a record low.
The Dow was up 106 points, or 0.6 percent, to 18,333.
Stocks rode a wave of momentum that gained speed Friday when news of much bigger-than-expected job growth quieted concerns that the surprise “Brexit” vote would have economic repercussions here.
Europe’s broad FTSEurofirst 300 index (.FTEU3) closed 0.31 percent lower, at 1,326.3.
Brent crude (LCOc1) was last down $2.15, or 4.44 percent, at $46.32 a barrel. U.S. crude settled up $US2.04, or 4.56 per cent, at $US46.80.
ENERGY: Benchmark U.S. crude added 57 cents to $45.33 a barrel in electronic trading on the New York Mercantile Exchange.
In the oil sector, Oil Search is rising nearly 3 percent, Santos is up more than 2 percent and Woodside Petroleum is advancing more than 1 percent. The major worldwide oil giants also rose, but by lesser amounts.
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Crude oil futures surged Tuesday even after OPEC said its production rose sharply in June. OPEC said its members would have to produce more next year to meet rising consumption and falling non-OPEC oil output. And the federal Energy Information Administration reiterated in its short-term energy outlook that USA crude oil production, which averaged 9.4 million barrels per day in 2015, would continue to slide to an average of 8.6 million barrels a day in 2016 and 8.2 million barrels a day in 2017. His meeting with former US Federal Reserve Chair Ben Bernanke, a proponent of “helicopter money” policies – printing money and directly handing it to the private sector to stimulate the economy – fuelled speculation that some of the stimulus plan could be funded by Bank of Japan easing. “The contraction seen this year in non-OPEC supply is expected to continue in 2017, but at a slower pace”.
