WALL STREET : Dow Failed To Sustain Above 13K, Again.

SPX & Nasdaq closes at highest since June 2008

Crude Oil tops $109 a barrel

U.S. stocks were little moved today, as the busy-but-abbreviated week -- which included a Greek bailout deal, a slew of corporate earnings, and a surge in crude oil prices -- came to an end. On the economic front, Wall Street sifted through a stronger-than-expected consumer sentiment index reading and a hot-and-cold home sales report. Meanwhile, well-received quarterly reports from the likes of Salesforce.com (CRM) and OmniVision Technologies (OVTI) helped lure some buyers off the sidelines, but today's new nine-month peak for crude -- prompted by familiar supply concerns -- leveled things out a bit, pulling the major market indexes back toward breakeven as the session wrapped up. Against this backdrop, however, both the Dow Jones Industrial Average (DJIA) and Nasdaq Composite (COMP) were able to tag new highs.

The Dow Jones Industrial Average (DJIA – 12,982.95) touched the 13,013.82 level early in the session -- its loftiest price since May 2008 -- but ultimately ended the day down 1.7 points, or 0.01%. Among the Dow's 30 components, 16 finished lower, led by a 1.8% decline for Bank of America (BAC). American Express (AXP) paced the bullish minority with a 1.3% gain. For the week, the blue-chip barometer inched up 0.3%.

The S&P 500 Index (SPX – 1,365.74) added 2.3 points, or 0.2%, to close at its highest level since June 2008. For the week, the broad-market barometer turned in a 0.3% increase. 

The tech-rich Nasdaq Composite (COMP – 2,963.75) ended the day up 6.8 points, or 0.2%, and finished the week with a 0.4% trek into positive territory. Near midday, the COMP hit the 2,970.88 level -- its highest point since December 2000.

HAPPY TRENDING 

DJIA, SPX Surrender Early Gains on Disappointing Data

Nevertheless, the blue-chip barometer maintained a perch atop 12,700

U.S. stocks spent time on both sides of the breakeven line today, as Wall Street weighed hot-and-cold earnings and economic reports. Initially, stronger-than-expected quarterly reports from Caterpillar (CAT) and 3M Company (MMM) bolstered the blue chips, while Netflix (NFLX) lured buyers to the Internet sector. Furthermore, a bigger-than-expected jump in durable-goods orders also helped the bulls maintain the reins in early trading. 

However, a hefty quarterly loss from AT&T (T) tempered the Street's earnings enthusiasm, while a lackluster report on new-home sales and a rise in weekly jobless claims eventually tipped the scales in the bears' favor. 

Against this backdrop, stocks whittled their gains as the session progressed, with all three major market indexes in the red by the closing bell.

The Dow Jones Industrial Average (DJIA – 12,734.63) peaked at 12,841.95 in early trading, but eventually finished 22.3 points, or 0.2%, lower. Nevertheless, the 12,700 level stepped up to provide support. Among the index's 30 components, Caterpillar and 3M paced the six advancing equities, notching earnings-related gains of 2.1% and 1.3%, respectively. Meanwhile, AT&T led the bearish majority, surrendering 2.5%, while Cisco Systems (CSCO) finished flat.

The S&P 500 Index (SPX – 1,318.45) traded as high as 1,333.47 before performing an about-face, giving up 7.6 points, or 0.6%, when all was said and done. 

Finally, the Nasdaq Composite (COMP – 2,805.28) jumped to 2,834.30 right out of the gate, but backpedaled to a loss of 13 points, or 0.5%, by the time the dust settled. Like the Dow, however, the tech-rich COMP found round-number support in afternoon trading, maintaining its perch atop the 2,800 level.

HAPPY TRADING 

WALL STREET : Stocks Claw Back From Heavy Losses

U.S. Stocks Fall on European Debt Downgrade,
End Week in Black
U.S. stocks began Friday pointed south, and ended the session on a decidedly downbeat note. The dive was ignited on a "modestly disappointing" fourth-quarter report from JPMorgan Chase (JPM), and word that Bank of America (BAC) could scale down its U.S. efforts. The Street was also fretting over possible debt downgrades for European Union (EU) nations. Yet, it wasn't until after midday that the hype came to fruition in the form of a downgrade to France's triple-A credit rating from Standard and Poor's (S&P). The latest consumer sentiment index reading was the only true bright spot of the day, but any semblance of optimism from that report was all but forgotten. Against this drab backdrop, all three major market indexes closed with a loss, but ended the week in the black.

The Dow Jones Industrial Average (DJIA – 12,422.06) ended the day down nearly 49 points, or 0.4%, after touching an intraday low of 12,311.79. Among the Dow's 30 components, only nine finished higher, led by a 1.1% jump by Chevron (CVX). BAC and JPM paced the bearish majority with declines of 2.7% and 2.5%, respectively. Verizon (VZ) and Procter & Gamble (PG) finished unchanged. For the week, the blue-chip barometer eked out a 0.5% gain.

The S&P 500 Index (SPX – 1,289.09) backpedaled 6.4 points, or 0.5%. However, the broad-market barometer turned in a 0.9% increase for the week. The tech-rich Nasdaq Composite (COMP – 2,710.67) fared the worst of its counterparts with a roughly 14-point, or 0.5%, drop, but finished the week with a 1.4% trek into positive territory.

ANALYSTS QUOTES

"While we cannot say that consumers are 'optimistic,' they appear much less pessimistic compared to last summer when news on the [eurozone] debt crisis turned particularly ugly and the debt-ceiling debate was fought."

“The political agreement does not supply sufficient additional resources or operational flexibility to bolster European rescue operations, or extend enough support for those euro zone sovereigns subjected to heightened market pressures.”

 “It is not the rating agencies who dictate French policy.”

HAPPY WEEKEND 

U.S. Stocks Edge Higher on Cautious Optimism Out of Europe 13/01/2012

Industrial, Material Shares Lift Wall Street
A late-session rally in industrial and basic materials stocks offset losses seen across the energy sector, lifting the markets into positive territory on the day.


The Dow Jones Industrial Average gained 21.6 points, or 0.17%, to 12471, the S&P 500 rose 3 points, or 0.23%, to 1296 and the Nasdaq Composite rose 13.9 points, or 0.51%, to 2725.

Market participants parsed through a slew of European and economic developments on Thursday.

From Monday till Thursday's close, the Dow is up +111.10 or +0.90% with 1 more session to complete an enthused week.

Analyst's Quote

“We’re breathing pretty shallow until we get developments on both fronts,” he added, pointing to corporate results and, in particular, guidance, along with aggressive enough steps by European leaders to assuage worry about the ramifications of the region’s debt crisis. “Stronger moves by the [European Central Bank] would be one, then maybe the market would give Europe some time to heal some of the wounds.”

HAPPY TRADING & GOODLUCK2ALL 

Technical Analysis : DJIA and FBMKLCI 16 Dec 2011

Xmas Rally & Window Dressing To Counter Decline

The Dow closed slightly lower on Friday but remains above support marked by the 20-day moving average crossing at 11,832. The Dow turned lower in the afternoon session wiping out early session gains as optimism over Europe's debt crisis fizzled after Fitch Ratings indicated that it might downgrade ratings of six European nations. Multiple closes below the 20-day moving average are needed to confirm that a short-term top has been posted and would open the door for additional weakness near-term. 

The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near-term. If the Dow extends this week's decline, November's low crossing at 11,231 is the next downside target. Closes above the 10-day moving average crossing at 12,016 would temper the near-term bearish outlook.   
First resistance is the 10-day moving average crossing at 12,016.

Second resistance is last Wednesday's high crossing at 12,257.

First support is Wednesday's low crossing at 11,786.

Second support is November's low crossing at 11,231.

 Week-on-week the Dow is down 2.61% or 317.87 points

 FTSE Malaysia Composite Index (KLCI) rose to 1472.76 points on Friday which was the intraday high, but in the moment before the close, it went down, taking the composite index to 1466.22 points but still up 2.11 points or 0.14% for the session. 

 Arrow A, as shown in the chart, the KLCI is still at EMA 14, 21, 31 days hovering around neither indicating bullish nor bearish. Resistance levels remain at 1,500 points and 200-day moving average support level is maintained at 1430 points.

The arrow shown in Figure B, the total volume shares increased by 14.44%, which is slightly higher breakthrough volume of the 40-day volume moving average (VMA). Technically, if the volume continues to increase and maintain above the 40-day average trading volume, the general outlook will indicate improving sentiments of the overall investment climate. However, the shares that are actively traded on Friday are still low-priced items consisting mostly pennystocks & warrants, As such, the current increase in volume does not truly reflects the recovery of bluechips or big cap stocks investment in KLSE.

The arrow shown in Figure C, the Stochastic continue to rise, but is still confined between 30% and 70% level This means that the KLCI is moving within a narrow tight range short-term pattern.

Overall, the KLCI is still at the current point between 1430 to 1500 consolidation pattern and the direction remains uncertain. The KLCI pattern of long-term trend, it is still maintained in the bearish bias pattern, because the KLCI is closer to the 200-day moving average line support.

HAPPY WEEKEND 

WALL STREET : Stocks Surrender Early Gains on Post-Fed Sell-Off

FED STRIKE A SELL CHORD 

U.S. stocks explored both sides of breakeven today, but ended in the red after the Fed seemingly rained on the bulls' parade. Specifically, despite surprising no one by maintaining rock-bottom interest rates, and essentially standing pat on its economic outlook, buyers hit the exits in the wake of the Federal Open Market Committee (FOMC) policy statement. While some economists attributed the afternoon about-face to a lack of QE3 signals, others said the turnaround was simply due to light volume and year-end liquidations. In any case -- and thanks to a round of lackluster retail sales data and bailout-related rumors out of Germany -- the major market indexes gave up early gains to settle notably lower.

The Dow Jones Industrial Average (DJIA – 11,954.94) explored a range of more than 240 points, but eventually ended with a loss of 66.5 points, or 0.6%, to finish south of the 12,000 level and its 10-day moving average. However, the blue-chip barometer maintained a perch atop its 200-day trendline, which hasn't been violated on a daily closing basis since Nov. 29. Among the index's 30 components, Pfizer (PFE) led the seven advancing equities with a 1.8% gain, while Alcoa (AA) paced the 21 decliners with a loss of 3.3%. Both Boeing (BA) and Merck (MRK) finished flat.

HAPPY TRADING 

WALL STREET : EU Deal Scare Bears; Bulls Gain 3%

DJIA Skyrockets 340 Points, Tops 12,000 on Euro-Zone Relief & GDP Rally

A bullish tide swept over Wall Street today, as investors cheered a long-awaited plan to address European debt. Most notably, European Union (EU) leaders agreed to recapitalize the region's banks, and to boost the scope of the European Financial Stability Facility (EFSF). Furthermore, under the terms of the deal, private investors of Greek debt will take a 50% write-down on their holdings -- which translated into a major boon for banks both at home and abroad. With the fiscal fate of the euro zone seemingly coming into focus, and thanks to a respectable uptick in third-quarter gross domestic product (GDP), the major market indexes now boast double-digit percentage gains for the month of October.

The Dow Jones Industrial Average (DJIA – 12,208.55) blazed a steady path higher today, touching an intraday peak of 12,284 before paring its gains by the close. Still, the blue-chip barometer tacked on a healthy 339.5 points, or 2.9%, when all was said and done, ending north of its 200-day moving average for the first time since Aug. 1, and extending its month-to-date gain to 11.9%. In fact, not one of the Dow's 30 components finished lower, with Bank of America (BAC) and Alcoa (AA) paving the path into the black with gains of 9.5% apiece.

The S&P 500 Index (SPX – 1,284.59) rallied 42.6 points, or 3.4% -- but not before topping out at 1,292.66 in late-session trading. Like the Dow, the SPX conquered its 200-day moving average for the first time in close to three months, extending its October lead to 13.5%. Likewise, the Nasdaq Composite (COMP – 2,738.63) skyrocketed nearly 88 points, or 3.3%, after touching an intraday peak of 2,753.37. As such, the tech-rich COMP is on pace to end the month nearly 13.4% higher.

HAPPY TRADING 

ZLBT's Good Morning Charts 18 August 2011

Caution is the word ......
Global uncertainties can create pendulous market swings
AVOID GETTING CAUGHT OFF-GUARD

综合指数 2011年 08月 17日

如图中箭头A所示 ，富时大马综合指数（综指）周三虽然成功的在1500点水平以上开市，但始终在14、21、31天综合加权移动平均线（Exponential Moving Average - EMA）的动态阻力线遇阻，按日微扬4.89点或0.33%。综指支持水平依然是1480点。

如图中箭头B所示，马股总成交量明显的减少（减退30.97%），因此成交量未能达到40天的成交量平均线。以技术而言，这表示马股交投再次回到淡静的状况，而同时暗示着投资者对马股信心仍然不强。

如图中箭头C所示，随机指标（Stochastic）继续缓缓上扬，可是仍然未能突破70%水平，所以暂时还未发出任何短期转强的讯号。当前随机指标的讯号是属于中和的。

总的来说，综指自上周出现技术反弹以来，目前仍然处于技术反弹的格局。不过，由于综指还是在14、21、31天EMA动态阻力线，因此综指仍然有形成较低峰（Lower-High）的风险。无论如何，只要综指还是处于14、21、31天EMA以下，那综指当前的技术展望将继续是偏弱的。

祝你好运

After 8 Curve Balls, DJIA Dodges Longest Dip Since '78

SPX, COMP Back in the Black for 2011 after late-day buying spree
U.S. stocks spent time on both sides of the breakeven line today, as Wall Street absorbed a double dose of diverging economic data. Most notably, the latest report from the Institute for Supply Management (ISM) kept the major market indexes in the red most of the day, after the data showed an unexpected slowdown in service-sector growth last month. However, payroll processor ADP may have been the bulls' saving grace, reporting a bigger-than-anticipated uptick in private-sector jobs in July. With the recent barrage of bleak data still in the forefront of investors' minds, the ADP figures offered a slim ray of hope ahead of Friday's highly anticipated nonfarm payrolls report, and helped the Dow Jones Industrial Average (DJIA) avoid its worst losing streak since Jimmy Carter was in the White House.

The Dow Jones Industrial Average (DJIA – 11,896.44) fell as low as the 11,700 level in early trading, but eventually clawed its way to a gain of 29.8 points, or 0.3%. All but nine of the Dow's 30 blue chips edged higher, with Coca-Cola (KO) blazing the trail with a 2% lead. Meanwhile, Caterpillar (CAT) paced the bearish minority, giving up 0.9% by the close.

In similar fashion, the S&P 500 Index (SPX – 1,260.34) tagged an intraday nadir of 1,234.56 before bouncing back, settling with a gain of 6.3 points, or 0.5%. As a result, the broad-market barometer is now up 0.2% for the calendar year, after falling to a year-to-date loss in Tuesday's session. Finally, the Nasdaq Composite (COMP – 2,693.07) fared the best of the three, advancing 23.8 points, or 0.9%. At its session low, the tech-rich COMP was in danger of erasing its own year-to-date surplus, which now sits at 1.5%.

HAPPY TRADING

WALL STREET : Only four of the DJIA's 30 blue chips eked out a win

DJIA Surrenders 88 Points as Congress Plays Debt-Ceiling Chicken
U.S. stocks backpedaled right out of the gate today, as heightened debt concerns on both sides of the Atlantic sent buyers to the sidelines. In Europe, Moody's downgrade of Greek debt reminded traders of the potential ramifications of an extended stalemate on Capitol Hill, as a failure to up the federal debt ceiling by Aug. 2 could result in a debt downgrade -- or worse, a default -- for Uncle Sam. Against this uncertain backdrop, the Dow Jones Industrial Average (DJIA) swallowed a loss of 0.7%, while the S&P 500 Index (SPX) and tech-rich Nasdaq Composite (COMP) each gave up 0.6% by the close. Meanwhile, the CBOE Market Volatility Index (VIX - 19.35) ballooned almost 10.5% -- further reflecting the collective jitters on Wall Street -- while gold futures assailed new heights on a massive flight to safety.

The Dow Jones Industrial Average (DJIA – 12,592.80) finished north of its session low of 12,536.19, but still surrendered 88.4 points, or 0.7%, by the time the dust settled. Limiting the blue-chip barometer's fall was its 10-day moving average, which hasn't been compromised on a daily closing basis in more than a week. Among the Dow components, tech titans Hewlett-Packard (HPQ) and Microsoft Corp. (MSFT) led the four advancers with gains of 1.1% and 1.4%, respectively, while Boeing (BA) paced the 26 decliners with a loss of 1.9%.

Meanwhile, the S&P 500 Index (SPX – 1,337.43) also ended off its session low, but gave up 7.6 points, or 0.6%, by the bell. In similar fashion, the Nasdaq Composite (COMP – 2,842.80) tagged an intraday nadir of 2,828.91, but trimmed its deficit to 16 points, or 0.6%.

Crude lower for 1st session out of 5

Despite a softer greenback, dollar-denominated crude futures ended lower for the first session in five today. Pressuring black gold were global debt concerns, which sparked fears about fizzling energy demand. By the close, September-dated crude oil gave up 67 cents, or 0.7%, to end at $99.30 per barrel.

HAPPY TRADING

WALL STREET >>> DJIA Takes Back 12,700

Bulls Charge : Dow Soars 1.2% as Greek Plan, Earnings Fuel Optimism

Stocks blazed a steady path into the black today, as Wall Street celebrated encouraging earnings and economic reports, and some debt-related headway across the pond. Specifically, European Union (EU) leaders detailed plans to prevent the contagion of Greek debt, which helped overshadow the lingering debt-ceiling gridlock on Capitol Hill. Meanwhile, Morgan Stanley (MS) led the earnings festivities, as investors applauded the financial concern's narrower-than-expected quarterly loss. Furthermore, the Philly Fed index's stronger-than-anticipated rebound, as well as upbeat data from the Conference Board, helped keep a jump in weekly jobless claims on the proverbial backburner. Against this bullish backdrop, the Dow Jones Industrial Average (DJIA) ended at its loftiest settlement price since May 10.

The Dow Jones Industrial Average (DJIA – 12,724.41) finished near a session high, advancing 152.5 points, or 1.2%, to end atop the 12,700 level for the first time in two weeks. Only Intel Corp. (INTC) bucked the trend higher, shedding 0.8%, while Bank of America (BAC) paced the advancers with a 3.9% gain.

In similar fashion, the S&P 500 Index (SPX – 1,343.80) rallied almost 18 points, or 1.4%, conquering the 1,340 level for the first time since July 8. Finally, the Nasdaq Composite (COMP – 2,834.43) pared its surplus to 20.2 points, or 0.7%, after earlier soaring as high as 2,847.41.

TECHNICAL ANALYSIS
Dow Jones Industrial Average

The Dow closed sharply higher on Thursday as it extends this week's rally. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are diverging and are turning bullish signaling that sideways to higher prices are possible near-term. Closes below the 20-day moving average crossing at 12,434 would confirm that short-term top has been posted. If the Dow extends the rally off June's low, May's high crossing at 12,876 is the next upside target.

First resistance is the 87% retracement level of the May-June decline crossing at 12,752.

Second resistance is May's high crossing at 12,876.

First support is the 20-day moving average crossing at 12,434.

Second support is Monday's low crossing at 12,296.

Crude Closing In On $100

Crude futures extended their winning streak to three straight sessions today, and even made a brief foray north of $100 for the first time in more than a month. Progress on the Greek debt situation bolstered hopes for improving demand, while the International Energy Agency's (IEA) decision against a second release of oil reserves also boosted black gold. Against this backdrop, September-dated crude oil futures tacked on 73 cents, or 0.7%, to end at $99.13 per barrel.

HAPPY TRADING & GOODLUCK2ALL

WALL STREET >>> QE3 Buzz Brings Out the Bulls

DJIA Whittles Intraday Lead;
Snap 3-day Losing Streak

U.S. stocks bounced back from a three-session drubbing today, with Federal Reserve Chairman Ben Bernanke luring buyers from the sidelines. Speaking on Capitol Hill, the central banker hinted at "additional policy support" in the wake of an extended period of economic weakness, but reiterated the Fed's forecast for a "moderate" recovery. Nevertheless, buzz of a possible "QE3" fueled stocks into the black, and sent the greenback reeling -- which translated into a second straight all-time high for dollar-denominated gold. However, Bernanke's warning that debt-ceiling delays could be "catastrophic" took some of the wind out of the bulls' sails, with the major market indexes giving back the majority of their gains by the bell.

At its intraday acme, the Dow Jones Industrial Average (DJIA – 12,491.61) boasted a gain of more than 160 points, but whittled its surplus down to just 44.7 points, or 0.4%, by the close. Earlier in the session, the blue-chip barometer made a brief trip north of 12,600, but stood south of 12,500 for the second straight session by the time the dust settled. Among the Dow's 30 components, Caterpillar (CAT) paced the 22 advancing equities with a gain of 1.6%, while American Express (AXP) led the eight laggards with a 0.9% dip.

Likewise, the S&P 500 Index (SPX – 1,317.72) was up more than 17 points at its session high, but trimmed its lead to 4.1 points, or 0.3%, by the bell. Stifling the broad-market index's upward momentum was the 1,333 neighborhood, which marks double its March 2009 low. Finally, the Nasdaq Composite (COMP – 2,796.92) also lost most of its steam as the session progressed, settling beneath the 2,800 level for the second straight day. Nevertheless, the tech-rich index still fared the best of the three, tacking on 15 points, or 0.5%.

August Crude Closes Above $98

Crude futures muscled higher for the second straight session today, bolstered by a steeper-than-expected drop in domestic stockpiles. Specifically, the Energy Information Administration (EIA) said crude inventories fell by 3.1 million barrels last week, compared to economists' expectations for a slimmer 1.8-million-barrel drop. In addition, Bernanke's hints of additional stimulus on the horizon pressured the greenback lower, beckoning foreign-currency holders to the dollar-denominated asset. By the close, August-dated crude oil futures tacked on 62 cents, or 0.6%, to end at $98.05 per barrel.

HAPPY TRADING & GOODLUCK

ZLBT Morning Views : Bursa Malaysia + Wall Street

Malaysian Stock Market May Extend Gains
The Malaysian stock market has finished higher now in back-to-back sessions, adding more than a dozen points or 0.6 percent along the way. The Kuala Lumpur Composite Index settled just above the 1,575-point plateau, and now analysts are forecasting additional gains for the market when it kicks off trade on Thursday.

The global forecast for the Asian markets is broadly positive following optimism over a resolution for the Greek debt crisis. Commodities are expected to fuel the rally - gold and oil, in particular - while financials also should provide support. Softness from the properties and airlines may limit the upside. The European and U.S. markets finished firmly in the green, and the Asian bourses also are tipped to track to the upside.

The KLCI finished slightly higher on Wednesday following gains from the financial shares, industrial issues and plantation stocks.

For the day, the index added 4.99 points or 0.32 percent to finish at 1,575.01 after trading between 1,570.39 and 1,575.81. Volume was 1.044 billion shares worth 1.796 billion ringgit. There were 434 gainers and 333 decliners, with 319 stocks finishing unchanged.

Among the actives, Maybank, Sime Darby, Tenaga Nasional, Petronas Chemicals and Axiata all finished higher, while Media Shoppe was unchanged and CIMB Group ended lower.

The lead from Wall Street is fairly upbeat as stocks posted further upside on Wednesday after showing strong upward moves in each of the two previous sessions. The markets benefited from news that the Greek parliament voted to approve a crucial package of austerity measures.

WALL STREET : Rebound extends into 3rd day

Stock indexes poised for monthly gains; quarterly losses

Greece remained in the driver's seat today, as traders around the globe cheered the parliamentary approval of much-needed austerity measures for the debt-laden country. Another vote on implementation is scheduled to take place on Thursday, but U.S. investors didn't hesitate to price in their optimism over today's legislative victory. On the home front, a dose of upbeat housing data also fueled the bulls, with the National Association of Realtors (NAR) reporting a surprisingly robust rise in its pending home sales index. Black gold also joined in the day's rally, with the front-month oil contract catching a lift from unexpectedly steep declines in both crude and gasoline supplies. As a result, traders overlooked increasingly dire warnings about the U.S. debt ceiling from Treasury Secretary Timothy Geithner, President Obama, and the International Monetary Fund (IMF), sending the major market indexes to their third straight daily victory.

The Dow Jones Industrial Average (DJIA – 12,261.42) ended the day on a gain of 72.7 points, or 0.6%, as 24 of its 30 components closed higher. Bank of America (BAC) led the advancing blue chips, up about 3% after settling a suit related to mortgage-backed securities. Microsoft (MSFT) paced the six declining Dow members with a loss of 0.7%. Thanks to today's rally, the Dow closed above the 12,200 level for the first time since June 2.

The S&P 500 Index (SPX – 1,307.41) added 10.7 points, or 0.8%, and collected a daily finish atop the 1,300 region for the first time since June 3. Finally, the Nasdaq Composite (COMP – 2,740.49) rounded out the day's advance by tacking on 11.2 points, or 0.4%.

Crude oil rebounds another 2%

Crude oil futures continued to gain ground today, thanks to a steeper-than-expected decline in domestic stockpiles. The Energy Information Administration (EIA) said U.S. crude supplies fell by 4.4 million barrels in the week ended June 24, compared to expectations for a drop of just 1.7 million barrels. Plus, gasoline inventories plummeted by 1.43 million barrels, defying predictions for a modest weekly rise. In addition to evidence of shrinking supplies, traders also considered signs of an impending resolution to the Greek debt crisis, which stoked expectations for a rebound in global demand. Against this backdrop, August-dated crude futures added $1.88, or 2%, to end at $94.77 per barrel.

HAPPY TRADING