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Today's Commentary
 
Monday, December 05, 2016


The Dow Jones Industrial Average (DJIA) is solidly higher, after being up triple digits earlier and touching a fresh all-time peak of 19,274.85 -- while shrugging off political uncertainty in Italy. Also boosting stocks was a better-than-expected Institute for Supply Management (ISM) non-manufacturing index -- which echoed a ninth straight monthly rise in the Markit services purchasing managers index (PMI) -- as well as a rally in oil prices. At last check, January-dated crude futures were up 0.7% at $52.06 per barrel, after exploring annual highs. Finally, rate-hike expectations continue to grow ahead of next week's monetary policy meeting, following hawkish remarks from New York Fed President William Dudley.   


 
 
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