Stock Indices Recap – 5/16/2017 | RJO FuturesPosted 05/16/2017 3:41PM CT |
June S&P finished down 1.3 at 2397.1, 7.2 off the high and 2.6 up from the low.
June S&P E-Mini closed down 1 at 2397.5. This was 3.75 up from the low and 7 off the high.
Once again, US stocks managed new all-time highs with the exception of the mini Dow and Dow Jones industrial average. The markets were helped early in the trading session by favorable Home Depot earnings and increase customer spending, but that optimism was severely undermined in the wake of a contraction in US housing starts and building permits. Fortunately for the bull camp, the market also saw better-than-expected industrial production and capacity utilization figures. In the end, one could argue that mixed US schedule data is positive to stocks because that could leave the Fed less likely to hike rates next month but it also suggest there are pockets of strength in the economy.