Equities advanced for a third consecutive session on
Thursday, with energy and materials shares leading a broad-based rally. The benchmark S&P 500 jumped 0.7% to 2662.84, trimming
its yearly loss to 0.4%, while the Nasdaq Composite climbed 0.5% to 7076.55,
and the Dow Jones Industrial Average rallied 1.0% to 24505.22. The S&P 500
and the Dow never touched negative territory -- the Nasdaq did briefly -- and
all three major averages finished in the upper half of their trading ranges.
Action was somewhat volatile -- although not as volatile as other sessions this
week -- but the CBOE Volatility Index slipped 1.43 points, or 7.1%, to 18.63 --
a two-week low.
Today after the close the following companies are scheduled to report: PSMT, WDFC.
Futures are flat/slightly higher after hours: S&P 500 futures are unchanged from the fair value of 2662 and Nasdaq100 futures are +1.00 from fair value of 6605.
Tomorrow morning, economic reports scheduled to be released include: Nonfarm Payrolls (08:30am ET, Consensus 175K vs. 313K in the prior month), Nonfarm Private Payrolls (08:30am ET, Consensus 180K vs. 287K in the prior month), Unemployment Rate (08:30am ET, Consensus 4.0% vs. 4.1% in the prior month), Avg. Hourly Earnings (08:30am ET, Consensus 0.2% vs. 0.1% in the prior month), Average Workweek (08:30am ET, Consensus 34.5 vs. 34.5 in the prior month).
Tomorrow before the open the following companies are scheduled to report earnings: GBX.
Looking at the energy market:
The EIA released its weekly natural gas storage data.
Natural gas inventory showed a draw of 29 bcf vs a draw of 63 bcf in the prior week:
- Working gas in storage was 1,354 Bcf as of Friday, March 30, 2018, according to EIA estimates. This represents a net decrease of 29 Bcf from the previous week. Stocks were 697 Bcf less than last year at this time and 347 Bcf below the five-year average of 1,701 Bcf. At 1,354 Bcf, total working gas is within the five-year historical range