Dow, S&P, Nasdaq, Russell all close at all-time highs

• The Dow, S&P 500, Nasdaq Composite and Russell 2000 all rallied together to reach all-time highs as crude oil prices surged on optimism that OPEC will agree to a supply cut deal.
• Today was the first time since December 1999 that all four major U.S. equity benchmarks closed at records on the same day.
• The energy sector rallied 2.4% as U.S. crude oil climbed 3.9% to settle at $47.49/bbl, while OPEC members including Iran, along with non-member Russia, suggested progress toward a deal to limit production; softening in the U.S. Dollar Index also boosted dollar-denominated commodities.
• The utilities (+1.1%) and tech (+1.1%) sectors also outperformed while real estate (-0.2%) lagged; the financial sector (+0.3%) turned in a flattish showing as flattening in the yield curve weighed on banking names.
• The two-year yield closed lower by a basis point to 1.06% while the benchmark 10-year yield slipped 5 bps to 2.30%.
• Today's trading volume was below the recent !1B-share average, as 842M shares changed hands at the NYSE floor.

Comments

[EffSA]

>"Today was the first time since December 1999 that all four major U.S. equity benchmarks closed at records on the same day."<

And then we had the dot com bust. I can't help but wonder if we're about to see the dot Trump bust. ?:-/