For FullyInformed Members here is the Stock Market Outlook intraday chart analysis to 12:15 PM on Tuesday Jan 3 2017.
First Day Of 2017 Trading
The big jump this morning was a bit of over enthusiasm for the start of the new year. The Dow started with a nice triple digit jump and the S&P pushed above 2260.
Much of the strength came from energy companies which climbed on the back of oil’s move higher. The push higher in oil comes as OPEC members hope that a deal with big oil exporters to cut production, which kicked in on Sunday, will result in an end to the global oil glut that continues to plague the oil sector.
Financials meanwhile jumped due to the interest rate increase in December and the likelihood of another rate increase in March 2017.
Both financials and energy had the biggest gains of the market in 2016.
The remainder of the midday stock market outlook intraday chart analysis includes the market breadth, outlook for the afternoon, close and the following day. It is for FullyInformed Members.
Stock Market Outlook – Midday Intraday Chart Analysis – Jan 3 2017
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