Late day rally takes the major indices to highs. Impressive gains for the day.
The US major indices were given a late day push on comments from Treasury Secretary Mnuchin that tax cuts may still be forthcoming in 2017. That helped the indices to new session highs. We are closing near the day highs as well.
- The S&P is closing up 20.06 points or +0.86% to 2249.01. The high reached 2249.14. The low 2332.51. The 50 day MA comes in at 2353.13. A move back above that MA would be more bullish for the S&P
- The Nasdaq is closing at 5856.789, up 51.639 points or +0.89%. Like the S&P it is closing at the highs for the day.
- The Dow rose by 183.67 points to 20636.92. The low reached 20484.75. The high extended to 20644.41.
After the close Netflixed earnings came out $0.03 higher than expectations and revenues were a little lower than expectations at 2.64B vs 2.65B estimate. Net subscriber growth in the US and internationally were less than estimates and Netflix guidance.
