Oil Futures (/CL)

Oil Futures (/CL) are stretching to fresh 2019 highs near $58 a barrel with another 1% gain coming in speculation of a favorable trade deal with China to spur further economic expansion.  Gold Futures (/GC) are barely hanging on to weekly gains at $1331 an ounce after two straight losing sessions amid a rumored hostile takeover of Newmont  Mining (NEM) by Canadian rival Barrick Gold as competition has increased. 

(SPX) 2/6

Stronger than expected earnings from some consumer discretionary companies help lead the S&P 500 (SPX) to its fifth consecutive higher session.  Beauty products maker Estee Lauder (EL) and fashion house Ralph Lauren (RL) rose 12% and 8.4%, respectively after strong quarterly results. Google parent Alphabet (GOOG) also rose 0.9% to 1151.87 despite incurring rising costs.  After fears of slowing U.S. growth and tariffs, investors came into 2019 with low expectations for the current earnings season.  Better or ‘not so bad’ results have helped fuel the recent rally.  After suffering its biggest annual loss in a decade last year, the S&P 500 (SPX) is up over 9% since the beginning of the year.  On the day, the Dow Jones Industrials ($DJI) rose 0.7% to 25411.52, the Nasdaq Composite (COMP) gained 0.7% to 7402.08, and the S&P 500 (SPX) added 0.5% to 2737.70.

U.S. equities 1/31

U.S. equities surged higher after Federal Reserve Chairman Powell made remarks about remaining patient on raising interest rates.  The Fed left interest rates unchanged and indicated that further rate hikes were on hold.  Stocks started the day higher after positive earnings results from Apple (AAPL) and Advanced Micro Devices (AMD), and accelerated higher after the cautious comments from Chairman Powell.   Low expectations and optimistic comments from CEO Tim Cook, sent shares of Apple almost 7% higher, after a downbeat earnings report.  Aerospace giant, Boeing (BA) gained 6.3% after beating estimates and a positive outlook for 2019.  On the day, the Dow Jones Industrials ($DJI) gained 1.8% to 25014, the Nasdaq Composite (COMP) rose 2.2% to 7183, and the S&P 500 (SPX) added 1.6% to 2681.

SBUX

Shares of Starbucks Corp. $SBUX are staying caffeinated after the company's strong earnings report Thursday evening. The stock reported earnings of $0.75 per share, topping the consensus forecast by $0.10 and rising 15.4%.

Gold Futures (/GC) 1/25

Gold Futures (/GC) are tracking higher near $1288 an ounce in reaction to a softer U.S. dollar despite some notable progress being made to resolve the impending Government shutdown.  Energy prices (/CL) are holding steady near $53 with investors keeping a close eye on fresh developments out of oil-rich Venezuela as two different President elects remain in a tug-of-war over power. The U.S. has already discussed potential oil sanctions which could create more short-term demand. Natural Gas (/NG) futures are trading 1.25% lower near the $3 threshold despite an Arctic cold spell that is set to cripple much of the mid-west through next week.