Tuesday's Market Recap - Dow Jumps Over 200 Points As New Fed Chair Seem All But Confirmed, And

What is The Premarket Telling Us?

7:45 AM.

US stock futures are modestly positive this morning. Dow futures up 41 points, Nasdaq futures up 5.25 points, and S&P futures up 2.75 points. The new nominee for Federal Reserve Chairman, Jerome Powell, will have his confirmation hearing on Capitol Hill, this morning.

On The Bond Desk:

The US 10 year bond sits at 2.33%, down one basis point.

Currency Desk:

Euro dollar at 1.18

UK Pound at 1.32

Crude Oil:

WTI crude oil futures is lower, at $57.69/barrel, down 0.72%.

On the Earnings Calendar:

Autodesk reports after the closing bell this evening.

In M&A News:

Arby's Restaurant announced it is buying Buffalo Wild Wings in a deal worth $2.4 billion.

Emerson Electric has pulled it bid for Rockwell Automation.

What About The Asian And European Markets?

Asian markets closed their session mixed; Japan (Nikkei 225) down 0.04%, Shanghai rose 0.34%, Hong Kong (Hang Seng) down 0.02%.

European markets closed with gains; Germany DAX up 0.46%, France CAC 40 up 0.57%, London FTSE 100 up 1.04%.

Market And Sector Dynamics

Stocks opened the trading session higher, with the Dow gaining 44 points, Nasdaq rose 14 points, and the S&P added 4.50 points. United Healthcare is helping the Dow to push higher. WTI crude oil is modestly lower at $57.79/barrel, off by 0.55%.

Stocks gaped higher shortly before noon, Jerome Powell, confirmation hearing concluded on Capitol Hill, which most investors fell will be an easy confirmation. Markets dived briefly, when news broke that North Korea, fired off another Ballastic Missile, into the Sea of Japan.

Markets took off a short once again, after the Senate Tax Committee voted to bring the GOP tax plan to the full Senate. That could take place by the end of this week.

Ten of the eleven S&P sectors ended the session with solid gains, led by consumer goods, financials, industrials, telecommunication services, energy, basic materials, and healthcare.

Factors Influencing Today's Market

• Crude oil close a modestly lower in the session. WTI crude oil price closed at $57.71/barrel, down 0.69%.

• Home Prices continued to rise in September. FHFA Housing Price Index rose 0.3%.

• November Consumer Confidence rose 129.5, a new 17 year high.

• Senate Tax Committee votes to bring GOP tax plan to the Senate floor.

• Jerome Powell, the nominee for Fed Chairman will had his confirmation hearing today.

• North Korea fired off another Intercontinental Ballistic Missile into the Sea of Japan today.

Market Close Volume Traded And Advance Decline Ratio

At the close of trading the Dow surged 255.93 points, Nasdaq up 33.84 points, and the S&P gained 25.52 points. Total NYSE volume shares traded, 3.26 billion shares. Advancers outpaced Decliners by 2:1.

Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.