The new year rally continued on Tuesday as stocks hit new records for the sixth consecutive session. The Dow Jones Industrial Average set the pace, jumping 0.4% to 25385.80, while the S&P 500 and the Nasdaq Composite ticked up 0.1% to 2751.29 and 7163.58, respectively. All three major stock indices posted new record closes, but a late wave of selling left them a step below their best marks of the day. The small-cap Russell 2000 lost 0.1%.
Notable companies reporting earnings after the close: SNX, VOXX, EXFO, WDFC.
Futures are lower after hours: S&P 500 futures are -1.75 from fair value of 2752 and Nasdaq futures are -6.75 from fair value of 6688.
Tomorrow morning, companies expected to report earnings include: LEN, SVU, MSM.
Economic data out tomorrow morning: MBA Mortgage Index (Briefing.com consensus NA from -2.8% in prior week), Export Prices ex-ag. (Briefing.com consensus NA from 0.6% in November), Import Prices ex-oil (Briefing.com consensus NA from 0.0% in November).
In energy news, the American Petroleum Institute (API) released its weekly oil storage data...
- The API reported a draw of 11.192 million barrels of crude oil, for the week ending Jan 5 vs. last week's draw of 4.992 mln barrels
- Gasoline showed a build of 4.338 million barrels and distillates showed a build of 4.685 million barrels
- Feb crude oil is now +$1.72 (or +2.8%) at $63.45/barrel, easily above today's settlement price of $62.92/barrel.