• 188
  • 36
  • Favorite

Dow rises more than 100 points amid tame inflation data, bank shares lead

Tiger Newspress2021-03-26

U.S. stocks climbed on Friday, led by bank shares and economic reopening plays as investors cheered data showing subdued inflation.

The Dow Jones Industrial Average gained 118 points. The S&P 500 rose 0.4%, while the Nasdaq Composite climbed 0.2%.

Bank stocks rose after the Fed announced that banks could resume buybacks and raise dividends starting at the end of June. The central bank originally said it would lift pandemic era restrictions in the first quarter, but even the delayed move gives investors more clarity.

Shares of JPMorgan rose 1.5%, while Bank of America advanced 2%. Goldman Sachs gained 1%.

Classic reopening plays built on the momentum from the previous session. American Airlines climbed 1%, while Royal Caribbean, Carnival and Norwegian Cruise Line all climbed more than 1%.

The core personal consumption expenditure price index, which strips out volatile food and energy prices, rose 0.1% month over month, matching expectations from economists polled by Dow Jones. Year over year, the gauge climbed 1.4%, slightly lower than a 1.5% estimate.

The move in futures comes after stocks bounced in afternoon trading on Thursday, with the Dow swinging more than 500 points as cyclical trades gained steam. The strong close broke a recent trend of poor finishes on Wall Street and trimmed the market’s week-to-date losses. The Dow and S&P 500 are now down less than 0.1% for the week, while the Nasdaq Composite is in the red by 1.8%.

“If you’re positioned the way we are, which is for a cyclical recovery and being overweight the value sectors, certainly you can’t run a victory lap here. But it is nice to see, after the last six days, that some of the trends that have been in place for the better part of six months seem to be reasserting themselves,” Jason Trennert, CEO of Strategas Research Partners, said on CNBC’s “Closing Bell.”

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment36

  • SekharS
    ·2021-03-29
    Unlikely to be bearish
    Reply
    Report
    Fold Replies
    • lks
      can share your thoughts?
      2021-03-29
      Reply
      Report
  • Vento95
    ·2021-03-29
    Way......
    Reply
    Report
  • KLS
    ·2021-03-28
    Buy
    Reply
    Report
  • jaffer
    ·2021-03-28
    Ev stocks
    Reply
    Report
    Fold Replies
    • GM33
      Ya
      2021-03-28
      Reply
      Report
  • Lty1098
    ·2021-03-28
    Like n comment pls
    Reply
    Report
    Fold Replies
    • canoboi
      like
      2021-03-28
      Reply
      Report
    • ilovetotrade
      COmmemteD
      2021-03-28
      Reply
      Report
    • Alvinwong
      Comment back
      2021-03-28
      Reply
      Report
  • Tiongwee
    ·2021-03-28
    Good. Hope it is turning back up! 
    Reply
    Report
    Fold Replies
    • GM33
      Ya
      2021-03-28
      Reply
      Report
  • james33738
    ·2021-03-28
    Comment pls
    Reply
    Report
    Fold Replies
    • james33738
      ok zure
      2021-03-28
      Reply
      Report
    • Lty1098
      Like n comment pls
      2021-03-28
      Reply
      Report
  • dryGin
    ·2021-03-28
    [強] 
    Reply
    Report
  • kmlai
    ·2021-03-28
    Real
    Reply
    Report
  • HOCK
    ·2021-03-28
    Okay
    Reply
    Report
  • Agnes_Lim
    ·2021-03-28
    Pls like and comment to get tiger coin. Thks
    Reply
    Report
    Fold Replies
    • Lty1098
      Like n comment pls
      2021-03-28
      Reply
      Report
  • MARCC
    ·2021-03-28
    Like and comment!
    Reply
    Report
    Fold Replies
    • Bodoh
      Comme t
      2021-03-28
      Reply
      Report
  • Alice156
    ·2021-03-28
    Wow
    Reply
    Report
    Fold Replies
    • Bodoh
      Yes
      2021-03-28
      Reply
      Report
  • Ellora
    ·2021-03-27
    Evjbghnmm
    Reply
    Report
  • wc77
    ·2021-03-27
    wow
    Reply
    Report
  • duriantree
    ·2021-03-27
    Nice
    Reply
    Report
    Fold Replies
    • Jojofi
      [呆住]
      2021-03-27
      Reply
      Report
  • PooYen
    ·2021-03-27
    Please response Thanks
    Reply
    Report
    Fold Replies
    • imteng87Replying toPooYen
      Yes
      2021-03-28
      Reply
      Report
    • PooYen
      Thanks
      2021-03-28
      Reply
      Report
    • Teslawonder
      pls like and comment
      2021-03-27
      Reply
      Report
    View more 2 comments
  • Meshaarias72
    ·2021-03-26
    ?
    Reply
    Report
  • skyes
    ·2021-03-26
    Like thanks
    Reply
    Report
  • Karlok
    ·2021-03-26
    Nice
    Reply
    Report
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial