rallied to new records on Wednesday with technology shares leading the charge.
The Dow Jones Industrial Average jumped 1.3% to 26115.65, the Nasdaq Composite
rose 1.0% to 7298.28, the S&P 500 climbed 0.9% to 2802.56, and the Russell
2000 advanced 0.9% to 1586.66. The Dow, the Nasdaq, and the S&P 500
finished at new record highs, but the Russell 2000 failed to recoup all of its
Futures are higher/flat after hours: S&P 500 futures are +0.75 from fair value of 2803 and Nasdaq futures are unchanged from fair value of 6820.
Notable companies reporting earnings after the close: HBHC, AA, EGBN, KMI, SLM, PLXS, PTC.
Tomorrow morning, companies expected to report earnings include: CBSH, JBHT, MS, PACW, BBT, MTB, MTG, SBNY, TSM, BK, GATX, HOMB, IIIN, KEY, PPG, SASR, WNS.
Economic data out tomorrow morning: Housing Starts (Briefing.com consensus 1280K for Dec from 1297K in prior month), Building Permits (Briefing.com consensus 1290K for Dec from 1298K in prior month), Initial Claims (Briefing.com consensus 251K for Dec from 261K in prior week ended 01/13), Continuing Claims (Briefing.com consensus NA from 1867K in prior month), Philadelphia Fed (Briefing.com consensus 24.5 for Dec from 26.2 in prior month).
In the energy markets, the API released its weekly petroleum data for the week ended January 12th:
- The API reported a draw of 5.12 million barrels of crude oil, for the week ending Jan 12 vs. last week's draw of 11.192 million barrels
- Gasoline showed a build of 1.782 million barrels and distillates showed a build of 0.609 million barrels