Wall Street Stocks – set to continue higher

 U.S. stock markets are set to open higher Friday, with investors reveling in a combination of healthy corporate earnings, diminished external growth risks and healthy domestic economic data.

Futures for theS&P 500 were trading 8 points, or 0.3%, higher ,NASDAQ Composite were 34 points, or 0.4%, higher, while the Dow Jones 30 futures contract was up 80 points, or 0.3%.

The S&P 500 rose 0.8%, the Nasdaq Composite rose 1.1% and the Dow Jones Industrial Average surged 0.9%. All three major averages ended the day in record territory, while a total of 64 S&P 500 components hit all-time highs.

The threat of a trade war between the globe’s two largest economic powers has been lessened with the signing of the Sino-U.S. deal and the latest Chinese growth data suggest its slowdown may have come to an end. Thus investors have turned their attention to more domestic matters.

The Fed will release December figures on industrial production and capacity utilization, and the University of Michigan will report its preliminary measure of January consumer sentiment.

U.S. crude futures traded 0.6% higher at $58.88 and the international benchmark Brent contract rose 0.7% to $65.08. Gold futures for February delivery on New York’s COMEX climbed 0.4% to $1,556.25.

 Varchev Traders

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