NASDAQ 4,644.31 +96.48 points or +2.12%
Russell 2000 1,174.83 +35.45 points or +3.11%
The Market screamed higher across the board. The Market jumped up in the morning, and steadily rallied higher throughout the trading session and closed up near the highs of the day. The small cap Russel 2000 index led the Market higher jumping up over 3 percent higher on the day.
Both McDonald's and Exxon Mobil rallied up over 3 percent each on the day. Crude Oil went on another wild ride today, trading below $56 per barrel in the morning and then up trading up just under $60 per barrel mid day and then closed basically unchanged just under $58 per barrel. The Stock Market volatility dropped as the Stock Market rallied, losing over 17.5 percent to close down at 19.44. The 10 Year Treasury bond yield popped, closing up at 2.15 percent. Trading volume saw about 9.5 billion shares changing hands across all trading venues, according to BATS exchange data.
All released and proposed to be released economic reports for the week are listed below.
8:30 am Empire Manufacturing report for December was down -3.6. The Market was expecting 14.0. The prior reported figure was 10.2.
9:15 am Industrial Production report for November was 1.3 percent. The Market was expecting 0.7 percent. The prior reported figure was revised from down -0.1 percent to up 0.1 percent.
9:15 am Capacity Utilization report for November was 80.1 percent. The Market was expecting 79.3 percent. The prior reported figure was revised from 78.9 percent to 79.3 percent.
10:00 am NAHB Housing Market Index report for December was 57. The Market was expecting 58. The prior reported figure was also 58.
4:00 pm Net Long-Term TIC Flows report from October
8:30 am Housing Starts report for November was 1,028,000. The Market was expecting 1,035,000. The prior reported figure was revised from 1,009,000 to 1,045,000.
8:30 am Building Permits report for November was 1,035,000. The Market was expecting 1,060,000. The prior reported figure was revised from 1,080,000 to 1,092,000.
7:00 am MBA Mortgage Index report for December 13 was down -3.3 percent. The prior reported figure was 7.3 percent.
8:30 am CPI report for November was down -0.3 percent. The Market was expectiing -0.1 percent. The prior reported figure was flat.
8:30 am Core CPI report for November was up 0.1 percent. That was exactly in line with expectations. The prior reported figure was up 0.2 percent.
8:30 am Current Account Balance for 3rd Quarter was down -$100.3B. The Market was expecting down -$95.0B. The prior reported figure was revised from down -$98.5B to down -$95.4B.
10:30 am Crude Inventories report for December 13 was down -0.847M. The prior reported figure was 1.454M.
2:00 pm FOMC Rate Decision for December was left unchanged at 0.25 percent.
8:30 am Initial Claims report for December 13
8:30 am Continuing Claims report for December 6
10:00 am Philadelphia Fed report for December
10:00 am Leading Indicators report for November
10:30 am Natural Gas Inventories report for December 13