Stocks fought through trade war fears on Wednesday to
advance for the second session in a row. The S&P 500, which opened
Wednesday with a loss of around 1.5%, finished higher by 1.2% at 2644.69. The
Nasdaq and the Dow also opened solidly lower, but ended with gains of 1.5% and
1.0%, respectively, advancing to 7042.11 and 24264.30.
Today after the close the following companies are scheduled to report: OLLI, RECN.
Futures are higher after hours: S&P 500 futures are +1.75 from the fair value of 2644 and Nasdaq100 futures are +9.25 from fair value of 6571.
Tomorrow morning, economic reports scheduled to be released include: Trade Balance (08:30am ET, Consensus -$56.7B vs. -$56.6B in the prior month), Initial Claims (08:30am ET, Consensus 225K vs. 215K in the prior week), Continuing Claims (08:30am ET, Consensus NA vs. 1871K in the prior week).
Tomorrow before the open the following companies are scheduled to report earnings: CONN, HOFT, LW, MON, RPM, SCHN.
Looking at the energy market:
The EIA released its weekly petroleum storage data, helping drive oil prices today.
- The EIA reports that for the week ending Mar 30th:
- Crude oil inventories had a draw of 4.6 million barrels
- Gasoline inventories had a draw of 1.1 million barrels
- Distillate inventories had a build of 0.5 million barrels