Eurozone helps U.S. go green YTD
The Market:
The Dow (DIA), S&P 500 (SPY) and Nasdaq (QQQ) are all green for the year as of today’s close with the Russell 2000 (IWM) lagging down 0.8%. Considering there have only been about 5 trading days in the new year, this is not saying much but the recent 2 day recovery is impressive and reminiscent of what we saw all 2013 and 2014.
Helping the U.S. market today was statements from Mario Draghi that the ECB will discuss adding more or new monetary stimulus at their next rate meeting in two weeks. This news also helped the U.S. dollar continue to strengthen again the Euro as the Euro/$ exchange rate traded below $1.18 today to levels not previously seen since 2006.
Also helping today’s session was Oil managing to firm up for the second straight day allowing Energy stocks to rally with the XLE finishing up 2.24%.
Tomorrow’s key data is the Jobs numbers.
Reporting EPS 1/9/15 Pre-Market: