Headlining the economic reports that traders will be watching are sales of new single-family homes. The report could show a decline of 0.5% in May to a seasonally adjusted annual rate of 588,000.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 31500.68 | +823.32 | +2.68% |
| SP500 | S&P 500 | 3911.74 | +116.01 | +3.06% |
| I:COMP | NASDAQ COMPOSITE INDEX | 11607.620416 | +375.43 | +3.34% |
Commodity, Oil prices gained on Friday and were heading for a second weekly decline.
U.S. benchmark crude oil was at $105 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the basis for pricing for international trading, was at $110 per barrel.
FedEx shares gained more than 2% in after-hours trading after reporting that revenue rose 8% in its fourth quarter helped by higher shipping rates and fuel surcharges. Operating income rose 6.7% from a year earlier to $1.9 billion. Adjusted earnings of $6.87 per share missed Wall Street expectations. FedEx expects full-year earnings in the range of $22.50 to $24.50 per share.
Major banks performance, the nation’s major banks are in good shape and can withstand a severe economic contraction, the Federal Reserve determined Thursday. The 33 largest banks received a passing grade from the Federal Reserve following the latest annual "stress tests."
This year's scenario was being able to handle an unemployment rate that would more than double to 10%, a severe contraction in commercial real estate and stock market values that could cause losses of more than $600 billion.
Bitcoin traded around $21,000.
