Russell 2000 E-Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) on Thursday closed up +1.89%, the Dow Jones Industrials Index ($DOWI) closed up +1.93%, and the Nasdaq 100 Index ($IUXX) closed up +1.36%.
U.S. stock indexes on Thursday pushed higher after a surge in energy stocks lifted the overall market. Crude prices surged more than 24% Thursday after President Trump said today that he expects Saudi Arabia and Russia to cut crude production after he spoke with Saudi Crown Prince Mohammed Bin Salman.
Stocks also rose Thursday after the Fed took additional steps late Wednesday to boost bank liquidity by relaxing the Supplementary Leverage Ratio (SLR) that it imposes on banks for a year. The move will reduce banks' capital requirements since they will no longer have to maintain capital for Treasuries and reserves, thus freeing up their balance sheets for increased lending and market-making activities.
Thursday's U.S. economic data showed weakness in the economy that was bearish for stocks. Weekly initi... Read more