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19 June 2017
 |
| U.S.Stocks (The Total Investment & Insurance Solutions) |
U.S. stock indexes drifted higher in early trading Monday, led by
technology companies, to again clinch record heights. They followed the lead of
European markets, which jumped after French election results raised
expectations for more pro-business economic reforms.
KEEPING SCORE: The Standard & Poor's 500 index rose 12 points, or
0.5 percent, to 2,445, as of 10 a.m. Eastern time. If it holds there, it will
surpass its record closing level of 2,440.35, set last Tuesday.
The Dow Jones industrial average added 77
points, or 0.4 percent, to 21,461, and the Nasdaq composite jumped 59, or 1
percent, to 6,210. The Total Investment
& Insurance Solutions
OVERSEAS MARKETS: European shares jumped, led by the French CAC 40 after
voters gave France's new president a political majority in parliament. The vote
"will lend him enough support to rapidly implement his pro-business reform
program," said Marion Amiot, senior economist at Oxford Economics. She
raised her forecast for French economic growth for 2018 to 1.7 percent from 1.6
percent.
The CAC 40 jumped 1 percent, and Germany's DAX
rose 1.1 percent. In Asia, Japan's Nikkei 225 added 0.6 percent, the Hang Seng
in Honk Kong climbed 1.2 percent and South Korea's Kospi gained 0.4 percent. The Total Investment & Insurance
Solutions
The FTSE 100 in London rose 0.6 percent as
the United Kingdom opened negotiations to withdraw from the European Union. The Total Investment & Insurance
Solutions
TECH REBOUND: Technology stocks in the
S&P 500 rose 1.3 percent, the largest gain among the 11 sectors that make
up the index. That helped them to recover some of their sharp losses from the
last week. The Total Investment &
Insurance Solutions
Apple and other industry heavyweights had been among the stock market's
biggest stars, and tech stocks in the S&P 500 were up more than 20 percent
for the year until they took a sharp step down two Fridays ago. The worry seems
to be that they rose too far, too quickly. Tech stocks lost about a fifth of
their year-to-date gains in a little over a week.
On Monday, Google's parent, Alphabet, rose
$16.44, or 1.7 percent, to $975.06, and Apple rose $2.79, or 2 percent, to
$145.06. The Total Investment &
Insurance Solutions
BUYOUT BOOST: PerkinElmer, which sells testing equipment and scientific
instruments, jumped $1.59, or 2.5 percent, to $65.16 for one of the largest
gains in the S&P 500 after it agreed to buy EUROIMMUN Medical Laboratory
Diagnostics of Germany for $1.3 billion in cash.
YIELDS: Bond prices fell, which sent yields higher. The yield on the
10-year Treasury rose to 2.17 percent from 2.15 percent late Friday. The
two-year yield climbed to 1.34 percent from 1.31 percent, and the 30-year yield
ticked up to 2.78 from 2.77 percent.
CURRENCIES: The dollar rose to 111.28 Japanese yen from 110.84 yen late
Friday. The euro fell to $1.1180 from $1.1195, and the British pound slipped to
$1.2767 from $1.2780.
COMMODITIES: Benchmark U.S. crude rose 10
cents, to $45.07 per barrel. Brent crude, the international standard, added 23
cents to $47.60. The Total Investment
& Insurance Solutions
Natural gas sank 14 cents, or 4.5 percent, to $2.90 per 1,000 cubic
feet.
Gold fell $6.10 to $1,250.40 per ounce, silver lost 11 cents to $16.55
per ounce and copper added 2 cents to $2.58 per pound.The Total Investment & Insurance Solutions
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