Nasdaq jumps 1% in early trading
2016-12-05 10:25:04
Stock futures were strong throughout the early session, leading to a strong start to the week for the equity market. The price of oil continues to surge in the wake of OPEC's promise of production cuts, with the commodity now at its highest level since July of last year. All of the averages remain higher in early trading, with the Nasdaq pacing the gains with an advance of roughly 1%. Markit's service PMI dipped to 54.6 in the final November print, below the 54.9 final reading that was expected. The services ISM rose 2.4 points to 57.2 in November, topping the 55.5 reading that was…
Stock futures were strong throughout the early session, leading to a strong start to the week for the equity market. The price of oil continues to surge in the wake of OPEC's promise of production cuts, with the commodity now at its highest level since July of last year. All of the averages remain higher in early trading, with the Nasdaq pacing the gains with an advance of roughly 1%. Markit's service PMI dipped to 54.6 in the final November print, below the 54.9 final reading that was expected. The services ISM rose 2.4 points to 57.2 in November, topping the 55.5 reading that was forecast. Nearly an hour after the opening bell, the Dow is up 80 points, the Nasdaq is up 49 points and the S&P is up 14 points.