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Stock rebound may continue in Asia; bonds decline
A global rebound in stocks may continue in Asia on Wednesday as investor sentiment improves after being roiled by uncertainty over the omicron virus strain and stimulus outlook.
Futures for Japan and Hong Kong rose, while Australian shares edged up. U.S. contracts fluctuated after the $S&P 500 Index (.SPX.US)$ snapped three days of declines and the technology-heavy $NASDAQ 100 Index (.NDX.US)$ climbed more than 2%. A gauge of Chinese shares traded in the U.S. surged about 7%.
Turkey markets rocked anew amid stock slump, record lira swings
Gyrations in Turkey's stocks and the lira signal volatility is here to stay, even after the government laid out emergency measures to bolster the currency.
The Borsa Istanbul 100 Index's 7.9% decline on Tuesday triggered yet another circuit breaker, as it headed for the biggest three-day loss in more than two decades. The currency whipsawed between gains and losses, after soaring as much as 20% against the U.S. dollar, sending both three-month and one-year volatility to all-time peaks.
Tuesday's market bounce could lead to a record 2022, Oppenheimer's top strategist says
Despite Covid-19 omicron risks, Oppenheimer Asset Management's John Stoltzfus suggests Tuesday's market bounce is real.
"We believe in it. We think investors should as well," the firm's chief investment strategist told CNBC,"The selling that we've seen over the last few days was overdone. Fundamentals are getting better going forward. Stocks are responding to that fact."
Crypto funds explode in boom year marked by first U.S. bitcoin ETF
Even beyond the launch of the first U.S. Bitcoin futures ETF, cryptocurrency funds notched some notable global milestones in 2021.
The number of crypto-tracking investment vehicles worldwide more than doubled to 80 from just 35 at the end of 2020, according to Bloomberg Intelligence data. Assets soared to $63 billion, compared to $24 billion at the start of the year.
Musk tweet fund adminstrator isn't filing statements, judge says
A judge is questioning the status of a $40 million fund that was established from fines paid by Elon Musk and $Tesla (TSLA.US)$ over controversial tweets.
The firm appointed in May to administer distributions from the fund, set up by the U.S. SEC for harmed investors, hasn' filed required accounting statements, U.S. District Judge Alison Nathan said in an order Tuesday. She directed Rust Consulting to submit a status report by Jan. 7.
U.S. share buybacks hit record while capex lags pre-crisis level
Share repurchases more than doubled from a year earlier for S&P 500 companies to an all-time high of $234.6 billion, according to data released Tuesday from S&P Dow Jones Indices. Meanwhile, capital expenditures increased 21% to $189 billion, which is still down 3% from the final three months of 2019 before the pandemic shutdown the economy.
Part of the reason could be related to the pandemic, as a shift in consumer demand has fueled lots of uncertainty for businesses and makes it difficult for companies to plan ahead.
Super-luxury home sales surge across U.S., rising 35% in 2021
In 2021, at least 40 residential properties sold for more than $50 million in the U.S., according to data compiled by the appraiser Miller Samuel. Fueled by a booming stock market, low interest rates, and a pandemic-era's heightened emphasis on home life, prices for luxury houses have risen to stratospheric heights across the country.
UK offers 1 billion pounds to firms hit hardest by Omicron
Britain has announced £1 billion of extra support for businesses hit hardest by the wave of Omicron variant coronavirus cases. Finance minister Rishi Sunak said he would "respond proportionately and appropriately" if further Covid restrictions are imposed.
Under the support announced on Tuesday, hospitality and leisure firms in England will be eligible for grants of up to 6,000 pounds for each of their premises, accounting for almost 700 million pounds of the new package.
Source: Bloomberg, CNBC
A global rebound in stocks may continue in Asia on Wednesday as investor sentiment improves after being roiled by uncertainty over the omicron virus strain and stimulus outlook.
Futures for Japan and Hong Kong rose, while Australian shares edged up. U.S. contracts fluctuated after the $S&P 500 Index (.SPX.US)$ snapped three days of declines and the technology-heavy $NASDAQ 100 Index (.NDX.US)$ climbed more than 2%. A gauge of Chinese shares traded in the U.S. surged about 7%.
Turkey markets rocked anew amid stock slump, record lira swings
Gyrations in Turkey's stocks and the lira signal volatility is here to stay, even after the government laid out emergency measures to bolster the currency.
The Borsa Istanbul 100 Index's 7.9% decline on Tuesday triggered yet another circuit breaker, as it headed for the biggest three-day loss in more than two decades. The currency whipsawed between gains and losses, after soaring as much as 20% against the U.S. dollar, sending both three-month and one-year volatility to all-time peaks.
Tuesday's market bounce could lead to a record 2022, Oppenheimer's top strategist says
Despite Covid-19 omicron risks, Oppenheimer Asset Management's John Stoltzfus suggests Tuesday's market bounce is real.
"We believe in it. We think investors should as well," the firm's chief investment strategist told CNBC,"The selling that we've seen over the last few days was overdone. Fundamentals are getting better going forward. Stocks are responding to that fact."
Crypto funds explode in boom year marked by first U.S. bitcoin ETF
Even beyond the launch of the first U.S. Bitcoin futures ETF, cryptocurrency funds notched some notable global milestones in 2021.
The number of crypto-tracking investment vehicles worldwide more than doubled to 80 from just 35 at the end of 2020, according to Bloomberg Intelligence data. Assets soared to $63 billion, compared to $24 billion at the start of the year.
Musk tweet fund adminstrator isn't filing statements, judge says
A judge is questioning the status of a $40 million fund that was established from fines paid by Elon Musk and $Tesla (TSLA.US)$ over controversial tweets.
The firm appointed in May to administer distributions from the fund, set up by the U.S. SEC for harmed investors, hasn' filed required accounting statements, U.S. District Judge Alison Nathan said in an order Tuesday. She directed Rust Consulting to submit a status report by Jan. 7.
U.S. share buybacks hit record while capex lags pre-crisis level
Share repurchases more than doubled from a year earlier for S&P 500 companies to an all-time high of $234.6 billion, according to data released Tuesday from S&P Dow Jones Indices. Meanwhile, capital expenditures increased 21% to $189 billion, which is still down 3% from the final three months of 2019 before the pandemic shutdown the economy.
Part of the reason could be related to the pandemic, as a shift in consumer demand has fueled lots of uncertainty for businesses and makes it difficult for companies to plan ahead.
Super-luxury home sales surge across U.S., rising 35% in 2021
In 2021, at least 40 residential properties sold for more than $50 million in the U.S., according to data compiled by the appraiser Miller Samuel. Fueled by a booming stock market, low interest rates, and a pandemic-era's heightened emphasis on home life, prices for luxury houses have risen to stratospheric heights across the country.
UK offers 1 billion pounds to firms hit hardest by Omicron
Britain has announced £1 billion of extra support for businesses hit hardest by the wave of Omicron variant coronavirus cases. Finance minister Rishi Sunak said he would "respond proportionately and appropriately" if further Covid restrictions are imposed.
Under the support announced on Tuesday, hospitality and leisure firms in England will be eligible for grants of up to 6,000 pounds for each of their premises, accounting for almost 700 million pounds of the new package.
Source: Bloomberg, CNBC
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I entered stock market without understanding its characteristics and nature. When I entered the market in March 2021, the market was booming and I thought I can buy any stock and it will make money. So I went in to monitor for few days, buy the stock and hold it for couple of weeks and make some money in the process. I didn’t check on the taxes and fees that I will be paying for each transaction. I didn’t spend time to read about the companies and I didn’t realize that I am buying a share of the company and I need to understand the company, it’s finances, the sector it’s in, it’s ROCE, it’s cash flow, shareholders etc. As there was no basic understanding I was concentrating on buying at low price and selling at high price, that’s all.
Later I entered options and futures with some advice from friends to make quick money by buying more quantity at a margin. I did make money initially but later I lost all of it since it didn’t understand the underlying facts of options and futures. I lost all the money that I made in equity in futures and options.
The greartest mistake was to enter options and futures without even understanding the underlying stocks and it’s performances. So my fellow mooers please don’t do the following while you are new to the market (at least you need two to three years to know a little)
1. Don’t buy using margin, always use cash and buy only the quantity that the cash can buy even if you are sure that it will earn more money in short term.
2. Don’t try options and futures without understanding what they are and how to buy and sell them whether it’s put or call. Give yourself few years before you enter into derivatives.
3. Have a plan for your investment - do you need it for retirement or kids education or their marriage, decide on it and then be patient enough for that money to grow. Don’t keep buying and selling quite often as you will loose more on taxes and fees. This will also help you to train to be patient and will keep you away from entering options and futures. Likewise decide whether do you want to be an investor or trader.
I thought I will share these with you guys so that it might help the new entrants in the market.
Merry Christmas and Happy New Year to you.
Later I entered options and futures with some advice from friends to make quick money by buying more quantity at a margin. I did make money initially but later I lost all of it since it didn’t understand the underlying facts of options and futures. I lost all the money that I made in equity in futures and options.
The greartest mistake was to enter options and futures without even understanding the underlying stocks and it’s performances. So my fellow mooers please don’t do the following while you are new to the market (at least you need two to three years to know a little)
1. Don’t buy using margin, always use cash and buy only the quantity that the cash can buy even if you are sure that it will earn more money in short term.
2. Don’t try options and futures without understanding what they are and how to buy and sell them whether it’s put or call. Give yourself few years before you enter into derivatives.
3. Have a plan for your investment - do you need it for retirement or kids education or their marriage, decide on it and then be patient enough for that money to grow. Don’t keep buying and selling quite often as you will loose more on taxes and fees. This will also help you to train to be patient and will keep you away from entering options and futures. Likewise decide whether do you want to be an investor or trader.
I thought I will share these with you guys so that it might help the new entrants in the market.
Merry Christmas and Happy New Year to you.
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With the latest release of producer price index data (PPI) the data shown was much worse and likely indicate a persistent higher inflation into year 2022.
Right now with hyperinflation a likely case if prices can't be control, is there a possibility for Jerome Powell to increase interest rates by 25 basis points tomorrow?
Apparently there's a 5.5% chance of this happening, not a big possibility, but there's a chance....
$Dow Jones Industrial Average (.DJI.US)$ $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ $S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $ProShares UltraPro S&P500 ETF (UPRO.US)$
Right now with hyperinflation a likely case if prices can't be control, is there a possibility for Jerome Powell to increase interest rates by 25 basis points tomorrow?
Apparently there's a 5.5% chance of this happening, not a big possibility, but there's a chance....
$Dow Jones Industrial Average (.DJI.US)$ $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ $S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $ProShares UltraPro S&P500 ETF (UPRO.US)$
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Central banks could drive stocks higher all the way through to the middle of 2023, but that would create a serious economic risk when the bubble bursts, according to Stifel.
"We calculate that a bubble driven by current central bank real yield repression may take the $SPDR S&P 500 ETF (SPY.US)$to 5,500 mid-2022 and 6,750 mid-2023, creating a systemic risk when it bursts," Stifel says.
Real rates saw a jump higher yesterday, but are still historically low. The 10-year inflation-protected $iShares TIPS Bond ETF (TIP.US)$is at -0.98%.
There have been just two equity bubbles in Wall Street's history: 1928-1928 and 1998-1999 and "neither ended well for stock or economic conditions," Stifel says.
Now, a third bubble is "percolating," the team adds.
The question is whether the Federal Reserve will lean against the risk of a bubble or just let asset prices rip, "magnifying financial risk when it bursts."
What can the Fed do? Watching the 10-year real yield is key to assessing market risk and the possibility of an S&P correction, Stifel says.
Stifel says that to forestall risk, the Fed may "tilt more hawkish while at the same time the Biden/Yellen duo may support the stronger dollar ( $USD (USDindex.FX)$) that accompanies such a Fed shift (a strong dollar subdues energy & food inflation in a supply-constrained inflation environment and improves the chances that BBB overcomes inflation concerns among Senate moderates, while also affecting the timing of a reconciliation bill to lift the U.S. debt ceiling)."
"This combination of factors may raise U.S. real yields and lower the S&P 500 P/E."
Watch Cyclicals and Defensives. Cyclical stocks have led the market rebound from the pandemic low on an equal-weight basis.
Actions like the above by the Fed and administration would cut into the reflation that favors Cyclicals over Defensives.
Stifel recommends going overweight some defensive stocks in sectors like Utilities ( $Utilities Select Sector SPDR Fund (XLU.US)$), Consumer Staples ( $Consumer Staples Select Sector SPDR Fund (XLP.US)$) and Health Care ( $The Health Care Select Sector SPDR® Fund (XLV.US)$) for the current quarter and Q1 2022.
They underweight some cyclical subsectors in Financials ( $Financial Select Sector SPDR Fund (XLF.US)$), Energy ( $Energy Select Sector SPDR Fund (XLE.US)$) and Materials ( $Materials Select Sector SPDR ETF (XLB.US)$).
BMO says that the still-hot tech sector can outperform next year, even with rising rates.
"We calculate that a bubble driven by current central bank real yield repression may take the $SPDR S&P 500 ETF (SPY.US)$to 5,500 mid-2022 and 6,750 mid-2023, creating a systemic risk when it bursts," Stifel says.
Real rates saw a jump higher yesterday, but are still historically low. The 10-year inflation-protected $iShares TIPS Bond ETF (TIP.US)$is at -0.98%.
There have been just two equity bubbles in Wall Street's history: 1928-1928 and 1998-1999 and "neither ended well for stock or economic conditions," Stifel says.
Now, a third bubble is "percolating," the team adds.
The question is whether the Federal Reserve will lean against the risk of a bubble or just let asset prices rip, "magnifying financial risk when it bursts."
What can the Fed do? Watching the 10-year real yield is key to assessing market risk and the possibility of an S&P correction, Stifel says.
Stifel says that to forestall risk, the Fed may "tilt more hawkish while at the same time the Biden/Yellen duo may support the stronger dollar ( $USD (USDindex.FX)$) that accompanies such a Fed shift (a strong dollar subdues energy & food inflation in a supply-constrained inflation environment and improves the chances that BBB overcomes inflation concerns among Senate moderates, while also affecting the timing of a reconciliation bill to lift the U.S. debt ceiling)."
"This combination of factors may raise U.S. real yields and lower the S&P 500 P/E."
Watch Cyclicals and Defensives. Cyclical stocks have led the market rebound from the pandemic low on an equal-weight basis.
Actions like the above by the Fed and administration would cut into the reflation that favors Cyclicals over Defensives.
Stifel recommends going overweight some defensive stocks in sectors like Utilities ( $Utilities Select Sector SPDR Fund (XLU.US)$), Consumer Staples ( $Consumer Staples Select Sector SPDR Fund (XLP.US)$) and Health Care ( $The Health Care Select Sector SPDR® Fund (XLV.US)$) for the current quarter and Q1 2022.
They underweight some cyclical subsectors in Financials ( $Financial Select Sector SPDR Fund (XLF.US)$), Energy ( $Energy Select Sector SPDR Fund (XLE.US)$) and Materials ( $Materials Select Sector SPDR ETF (XLB.US)$).
BMO says that the still-hot tech sector can outperform next year, even with rising rates.
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the future are not ours to see but we can learn from history and from the historical chart, $SPDR S&P 500 ETF (SPY.US)$ only goes up. it may drop sometimes drop but then it will continue rises to the moon. Chances of losing is low if can hold. Hold how long is another story. To improve the odd, i would suggest to go to Loyang Tua Pek Gong to pray and give offering. Good luck to all.
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Hey mooers![]()
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Happy Friday! Weekly Sectors Fund Flow Board is here~![]()
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From this chart, you will be able to find out what sector ETFs have most fund inflow. Fund inflow is often considered as a bullish sign of the sector and related ETFs!
^Weekly Sectors Fund Flow Board: a sector ranking based on sector ETFs aggregate 3-month fund flows.
^3-month fund flows: a metric that can be used to gauge the perceived popularity amongst investors of different sectors.
^The board includes the following information: change of rankings, 3-month fund flows, how many ETFs are in the sectors, and the related ETFs.
For this week, I covered the two highest ESG score sector-related ETFs ! Now, let's take a look at the board~You may find something to diversify your porfolio![]()
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* Follow me to know what is hot on the market![]()
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Sectors Updates:
*Tech![]()
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Technology stocks were mostly higher in late trade, with the $The Technology Select Sector SPDR® Fund (XLK.US)$ Thursday rising 1% and the $PHLX Semiconductor Index (.SOX.US)$ was flat, reversing a midday slide.
In company news, $The Glimpse (VRAR.US)$ fell 8%, giving back a small mid-morning gain, after the virtual and augmented reality company announced its planned purchase of marketing agency Sector 5 Digital for $8 million upfront and up to $19 million more over the next three years.
To the upside, $Snowflake (SNOW.US)$ rose more than 15% after the data platform company late Wednesday reported a strong reports. Revenue more than doubled compared with year-ago levels, rising 109% to $334.4 million and also beating the $306.1 million Street view.
$Okta (OKTA.US)$ added almost 13% on Thursday after the cloud-identity company overnight reported above-consensus Q3 results and also narrowed its projected FY22 net loss and raised its revenue forecast for 12 months ending Jan. 31.
*FIN![]()
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Financial stocks were ending near the peak of their Thursday advance, with the $Financial Select Sector SPDR Fund (XLF.US)$ was gaining 3%.
Bitcoin was 0.3% lower at $57,116 while the yield for 10-year US Treasuries was 1.4 basis points higher at 1.448%.
In company news, $Coastal Financial (CCB.US)$ rose 4.8% after Thursday announcing a new partnership with financial technology platform LendingPoint in a deal it anticipates will reduce the bank's risk and costs of lending and expand its geographic footprint. Financial terms were not disclosed.
*Real Estates![]()
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The Philadelphia Housing Index was climbing 4.3% and the $Real Estate Select Sector Spdr Fund (The) (XLRE.US)$ was up 2.7%.
$Brixmor Property Group Inc (BRX.US)$ rose 6% after Truist Securities raised its price target for the real estate investment trust by $3 to $26 a share and reiterating its hold rating for the stock.
$Medallion Financial (MFIN.US)$ was 11.6% higher after the specialty lender said it closed on the sale of its Richard Petty Motorsports NASCAR race team to Warp Speed for $19.1 million. The company said the deal removes $26 million of intangible assets from its balance sheet and increases its tangible book value by over $1 per share.
*Health Care
Health care stocks were ending off Thursday's pace, with the NYSE Health Care Index rising 0.5% this afternoon while the $The Health Care Select Sector SPDR® Fund (XLV.US)$ also was up 0.5%.
$Biofrontera (BFRI.US)$ soared 21% after the biopharmaceuticals company said it received a US patent for its pain-reducing illumination protocol combining its Ameluz medication with RhodoLED lamp.
$Omeros (OMER.US)$ climbed 7.3% after the biopharmaceuticals company said it was selling its OMIDRIA franchise to Rayner Surgical Group in a deal valued at more than $1 billion.
*Consumer
Consumer stocks were adding to prior gains late in Thursday trading, with the $Consumer Staples Select Sector SPDR Fund (XLP.US)$ climbing 1% while the $Consumer Discretionary Select Sector SPDR Fund (XLY.US)$ was rising 1.5%.
In company news, $Duluth Holdings (DLTH.US)$ sped 18% higher after the clothier reported net income of $0.09 per share for its Q3 ended Oct. 31, triple its $0.03 per share profit last year and topping the single-analyst call expecting a GAAP loss of $0.30 per share. Net sales increased and the company also raised its FY21 earnings forecast.
$The Kroger (KR.US)$ rose over 11% after the grocery chain beat Wall Street estimates with its fiscal Q3 results and raised its FY22 earnings forecast.
*Energy
Energy stocks were racing higher this afternoon, with the NYSE Energy Sector Index climbing 3.2% while the $Energy Select Sector SPDR Fund (XLE.US)$ was up 3%. The $PHLX Oil Service Sector Index (.OSX.US)$ also was posting a 3.4% gain and the $Dow Jones U.S. Utilities Index (.DJUSUT.US)$ was ahead 1.2%.
Front-month West Texas Intermediate crude oil settled $0.93 higher at $66.50 per barrel, reversing a morning decline, while the global benchmark Brent crude contract was advancing $1.49 to $70.36 per barrel.
Source: MT Newswires
From this chart, you will be able to find out what sector ETFs have most fund inflow. Fund inflow is often considered as a bullish sign of the sector and related ETFs!
^Weekly Sectors Fund Flow Board: a sector ranking based on sector ETFs aggregate 3-month fund flows.
^3-month fund flows: a metric that can be used to gauge the perceived popularity amongst investors of different sectors.
^The board includes the following information: change of rankings, 3-month fund flows, how many ETFs are in the sectors, and the related ETFs.
For this week, I covered the two highest ESG score sector-related ETFs ! Now, let's take a look at the board~You may find something to diversify your porfolio
* Follow me to know what is hot on the market
Sectors Updates:
*Tech
Technology stocks were mostly higher in late trade, with the $The Technology Select Sector SPDR® Fund (XLK.US)$ Thursday rising 1% and the $PHLX Semiconductor Index (.SOX.US)$ was flat, reversing a midday slide.
In company news, $The Glimpse (VRAR.US)$ fell 8%, giving back a small mid-morning gain, after the virtual and augmented reality company announced its planned purchase of marketing agency Sector 5 Digital for $8 million upfront and up to $19 million more over the next three years.
To the upside, $Snowflake (SNOW.US)$ rose more than 15% after the data platform company late Wednesday reported a strong reports. Revenue more than doubled compared with year-ago levels, rising 109% to $334.4 million and also beating the $306.1 million Street view.
$Okta (OKTA.US)$ added almost 13% on Thursday after the cloud-identity company overnight reported above-consensus Q3 results and also narrowed its projected FY22 net loss and raised its revenue forecast for 12 months ending Jan. 31.
*FIN
Financial stocks were ending near the peak of their Thursday advance, with the $Financial Select Sector SPDR Fund (XLF.US)$ was gaining 3%.
Bitcoin was 0.3% lower at $57,116 while the yield for 10-year US Treasuries was 1.4 basis points higher at 1.448%.
In company news, $Coastal Financial (CCB.US)$ rose 4.8% after Thursday announcing a new partnership with financial technology platform LendingPoint in a deal it anticipates will reduce the bank's risk and costs of lending and expand its geographic footprint. Financial terms were not disclosed.
*Real Estates
The Philadelphia Housing Index was climbing 4.3% and the $Real Estate Select Sector Spdr Fund (The) (XLRE.US)$ was up 2.7%.
$Brixmor Property Group Inc (BRX.US)$ rose 6% after Truist Securities raised its price target for the real estate investment trust by $3 to $26 a share and reiterating its hold rating for the stock.
$Medallion Financial (MFIN.US)$ was 11.6% higher after the specialty lender said it closed on the sale of its Richard Petty Motorsports NASCAR race team to Warp Speed for $19.1 million. The company said the deal removes $26 million of intangible assets from its balance sheet and increases its tangible book value by over $1 per share.
*Health Care
Health care stocks were ending off Thursday's pace, with the NYSE Health Care Index rising 0.5% this afternoon while the $The Health Care Select Sector SPDR® Fund (XLV.US)$ also was up 0.5%.
$Biofrontera (BFRI.US)$ soared 21% after the biopharmaceuticals company said it received a US patent for its pain-reducing illumination protocol combining its Ameluz medication with RhodoLED lamp.
$Omeros (OMER.US)$ climbed 7.3% after the biopharmaceuticals company said it was selling its OMIDRIA franchise to Rayner Surgical Group in a deal valued at more than $1 billion.
*Consumer
Consumer stocks were adding to prior gains late in Thursday trading, with the $Consumer Staples Select Sector SPDR Fund (XLP.US)$ climbing 1% while the $Consumer Discretionary Select Sector SPDR Fund (XLY.US)$ was rising 1.5%.
In company news, $Duluth Holdings (DLTH.US)$ sped 18% higher after the clothier reported net income of $0.09 per share for its Q3 ended Oct. 31, triple its $0.03 per share profit last year and topping the single-analyst call expecting a GAAP loss of $0.30 per share. Net sales increased and the company also raised its FY21 earnings forecast.
$The Kroger (KR.US)$ rose over 11% after the grocery chain beat Wall Street estimates with its fiscal Q3 results and raised its FY22 earnings forecast.
*Energy
Energy stocks were racing higher this afternoon, with the NYSE Energy Sector Index climbing 3.2% while the $Energy Select Sector SPDR Fund (XLE.US)$ was up 3%. The $PHLX Oil Service Sector Index (.OSX.US)$ also was posting a 3.4% gain and the $Dow Jones U.S. Utilities Index (.DJUSUT.US)$ was ahead 1.2%.
Front-month West Texas Intermediate crude oil settled $0.93 higher at $66.50 per barrel, reversing a morning decline, while the global benchmark Brent crude contract was advancing $1.49 to $70.36 per barrel.
Source: MT Newswires
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