- Paul Marotta / Stringer / Getty Images
The Nasdaq climbed more than 0.7% for the second time in three days, rebounding from a 0.8% decline on Tuesday.
The S&P 500 and Dow had ideas of their own, declining as weakness in energy companies and raw-material producers more than offset gains in healthcare stocks.
First up, the scoreboard:
- Dow: 21,410.03, -57.11, (-0.27%) S&P 500: 2,435.61, -1.42, (-0.06%) Nasdaq: 6,233.95, +45.92, (+0.74%) US 10-year yield: 2.150%, +0.00 WTI crude oil: $42.55, -0.96, -2.21%
1. The oldest stock market indicator known to man is flashing a big buy sign. The measure, known as Dow Theory, sends a bullish signal when transportation and industrial stocks hit fresh highs simultaneously. This happened back in October, and nothing has derailed it yet, despite the insistence some market bears.
2. Left for dead, one of the most popular Trump trades is showing signs of life. Hedge funds and large speculators have turned bullish on small-cap stocks for the first time in 14 weeks as the Russell 2000 has rallied.
3. ‘A lot of inconsistencies’ are driving oil prices through the floor. So says Neil Dwane, the global strategist at Allianz Global Investors, who blames over-supply.
4. Nvidia is getting a huge boost from a red-hot cryptocurrency. The favorite stock of millennial investors has been getting a big boost from ethereum, which has seen about $100 million worth of GPUs added to its network in just 11 days.
5. Jack Ma: New technology ‘may cause the Third World War’. The Alibaba CEO thinks that new technologies like machine learning and artificial intelligence could lead to the third World War.