Tuesday's Market Recap: Dow Gain Triple Digits As FOMC Meets And PPI Indicates Inflation Is Warm

What is The Premarket Telling Us?

On a day when the Fed/FOMC begins its December meeting, and where a rate hike is expected tomorrow, US stock futures are all modestly higher. Dow futures up 46 points, Nasdaq futures up 1 point, and S&P futures up 2.75 points.

Today is Election Day in Alabama, in that special Senate seat, election to replace the Jeff Session, the current Attorney General. Democrat Doug Jones, and the ultra controversial Republican, Roy Moore, who has been accused of dating under age girls, forty years ago, when he was a 32 year old District Attorney.

On The Bond Desk:

US 10 year bond yield at 2.38%, up 0.03% or three basis points.

Currency Desk:

Euro dollar at 1.17

UK Pound at 1.33

Crude Oil:

WTI crude oil futures at $57.73/barrel, down 0.45%.

On the Earnings Calendar:

None

In M&A News:

We learned today, that the mega deal, Disney looking to buy some Twenty-First Century Fox assets, could be announced as soon as Thursday.

What About The Asian And European Markets?

Asian markets were lower overnight; Japan (Nikkei 225) down 0.32%, Shanghai lost 1.25% , Hong Kong (Hang Seng) down 0.59%.

Major European market Germany DAX gained 0.46%, France CAC 40 up 0.75%, London FTSE 100 added 0.63%.

Market And Sector Dynamics

Stock opened higher. The Dow gained 64 points, Nasdaq slipped 3 points, and the S&P added 2 point. Energy stocks are leading markets, and so is Boeing shares, which hit a new high this morning.

Stocks gradually gained momentum as the day progressed, and market tone was positive.

Eight of the eleven S&P sectors closed with gains. Telecommunication services, financials, and healthcare outperformed.

Factors Influencing Today's Market

• Crude oil prices pulled back moderately in today's session. WTI crude oil closed at $57.14/barrel, down 1.47%.

• The Feds/FOMC began their December meeting today. A twenty five basis point rate hike is expected, tomorrow.

• November Producer Price Index (PPI) rose 0.4%, for the last three months, suggesting a hint of inflation.

• Disney deal to buy various Twenty-First Century Fox assets is expected to be announced on Thursday.

• All eyes are on the state of Alabama, and that Senate election to replace Jeff Sessions.

Market Close Volume Traded And Advance Decline Ratio

At the end trading, the Dow gained 118.77 points, Nasdaq fell 12.76 points, and the S&P added 4.12 points. Total NYSE volume traded, 3.36 billion shares. Decliners outpaced Advancers just better than even.

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