SP500 surged more than two percent, supported by strong corporate results and economic data, while the dollar and Treasury yields were little changed. Oil prices rose on expectations of disruption in supply due to U.S. sanctions on Iran and tensions with Saudi Arabia. Gold prices held steady.
R Option added risk and we are now waiting for more information
From Reuters:
Wall Street’s top investment banks reported better-than-expected quarterly profits, helped by strength in stock trading and equity underwriting, wrapping up what has been a strong quarter for the big U.S. banks.
Tomorrow:
Commerce Department is likely to report U.S. homebuilding fell in September to 1.220 million houses, compared with August’s reading of 1.282 million. Building permits for September is forecast edging up to 1.278 million units from 1.249 units in August.