Cliff optimism drives market to highest levels since October Each of the major equity indices is within striking distance of session highs and the best levels seen since October. The Nasdaq is the biggest winner, up more than 1.2%. Advancing stocks are well ahead of declining stocks, while up volume is outpacing down volume by about 3:1 on the Nasdaq and by 4:1 on the NYSE. Crude oil prices are higher by 0.8% and gold is lower by 2.0%. The Dow is up 110 points, the Nasdaq is up 39 points and the S&P is up 14 points.
BofA/Merrill to hold a conference 2015 Payments & Card Conference is being held in Scottsdale, AZ on May 18-20.
Futures slightly lower ahead of opening of new week U.S. equity futures are below fair value following a weekend of quiet news flow. The first quarter earnings season is winding down and investors are beginning to look forward to the long Memorial Day weekend. Today’s focus will be on the housing data due out at 10:00am EDT with the release of the NAHB housing market index. Many have expressed concern that the housing rebound will remain muted for the foreseeable future as the Fed gears up to begin raising interest rates.