Thursday's Market Recap - Stocks Finished Weak, As One Senator Says He Won't Support The Bil

What is The Premarket Telling Us?

7:00 AM.

US stocks market futures are modestly higher, one day after the Fed hiked interest rates by twenty five basis points.. Dow futures up 33 points, Nasdaq rose 6.75 points, and the S&P added 1.75 point.

On The Bond Desk:

US 10 year bond yield ticked lower at 2.35%, down or 5 basis points.

Currency Desk:

Euro dollar at 1.18

UK Pound at 1.34

Crude Oil:

WTI crude oil futures at $56.30/barrel, down 0.53%.

On the Earnings Calendar:

None

In M&A News:

Disney announced its agreement to buy specific assets from Twenty-First Century Fox for $52 billion.

What About The Asian And European Markets?

Asian market closed lower on Thursday; Japan (Nikkei 225 down 0.25%, Shanghai down 0.32%, Hong Kong (Hang Seng) down 0.19%.

European market close with losses today. Germany DAX down 0.44%, France CAC 40 down 0.78%, London FTSE 100 fell 0.65%

Market And Sector Dynamics

Markets jumped moderately higher at the open. The Dow gained 47.07 points, Nasdaq rose 11.39 points, and the S&P added 3.62 points. Stocks remained positive for the entire morning session, as investors digested the Fed rate hike, announced yesterday, as well as the formal announcement of Disney's deal to buy some of the assets Twenty First Century Fox, valued at $52 billion.

A strong 0.8% rise in November Retail Sales suggest the retail industry, left for dead, by investors for most of this year, is very much alive. Sales in the holiday season has been great, indicating fourth quarter consumer spending is in high gear.

Early in the afternoon markets learned that Senator Marco Rubio announced he could be a No vote on the tax reform bill, unless he gets more on the Child Tax Credits. Stocks started to slide lower from then, closing at the low of the day.

Ten of the eleven S&P sectors ended the session with losses, led by healthcare, basic materials, industrials, financials, and telecommunication services.

Factors Influencing Today's Market

• Disney agreement to buy some assets from Twenty First Century Fox for $52 billion.

• Crude oil prices rose in today's trading. WTI crude oil $57.09/barrel, up 0.87%.

• This week's Initial Jobless Claims fell 11,000 to 225,000.

• November Retail Sales came a strong 0.8% compared to the 0.3% expected.

Market Close Volume Traded And Advance Decline Ratio

At the end of trading all the major indexes were lower. The Dow lost 76.77 points, Nasdaq fell 19.27 points, and S&P down 10.84 points. Total NYSE volume traded, 3.22 billion shares. Decliners outpaced Advancers nearly 2:1.

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