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Nov 17 2015

Stocks rally, ECB seen increasing stimulus in wake of attacks

Market Recap 11/16/15:

U.S. stocks surged on Monday, with the S&P 500 posting its best session in three weeks after French air strikes in Syria prompted a sharp rise in oil prices, which in turn lifted energy shares. The strikes came in response to Friday’s deadly terrorist attack in Paris, which had major indexes trading lower shortly after the open. However, investors soon shrugged off the geopolitical risk, betting that the attacks would not have a notable impact on the U.S. economy. While companies related to travel and tourism fell in the wake of the attacks, the gains were otherwise broad. Major indexes are coming off a weekly drop of more than 3 percent, which could have contributed to the day’s advance if investors felt the selling had gotten overdone.
 
Looking ahead:
U.S. stock index futures were higher on Tuesday, tracking European indexes, which rose on the belief that the European Central Bank would institute new stimulative measures in the wake of Friday’s attack in Paris. Retail stocks were in focus, with Home Depot (HD) and Dick’s Sporting Goods (DKS) scheduled to report results before the market opens. Urban Outfitters (URBN) fell sharply in premarket a day after reporting weak results, the latest brick and mortar store to disappoint this season.
Make sure you don’t miss our president, Oliver Pursche, who will be appearing on CNBC this Friday. Also, catch this week’s Money Matters with Gary Goldberg, which will air Sunday at 11 on WOR710. Visit our website www.ggfs.com for more details.