Tuesday's Market Recap. Dow Mildly Lower, But Nasdaq & S&P Were Higher.
What is The Premarket Telling Us?
7:00 AM.
US stock futures are modestly lower this morning, Dow futures down 20 points, Nasdaq futures down 7 points, and S&P futures 5.25 points.
On The Bond Desk:
US 10 year bond yield at 2.66%, up .02% or two basis points.
Currency Desk:
Euro dollar at 1.22
UK Pound at 1.39
Crude Oil:
WTI crude oil futures at $63.79/barrel, up 0.35%.
On the Earnings Calendar:
Johnson and Johnson 4 Qtr. Earnings were better than expected.
Traveler's reported blowout 4th. Qtr. Earnings
Netflix reported better than expected 4 Qtr. Earnings. The company also blew out subscriber growth across all geographies.
In M&A News:
None
What About The Asian And European Markets?
Major Asian markets were all positive Japan (Nikkei 225) up 1.29%, Shanghai 1.29%, Hong Kong (Hang Seng) 1.66%.
Major European markets were higher in their session. Germany (DAX) up 0.71%, France CAC 40 down 0.12%, London FTSE 100 up 0.21%.
Market And Sector Dynamics
Market opened flat to mixed this morning, with the Dow fell 2.38 points, Nasdaq up 17 points, and the S&P added 1 point. The Nasdaq is being helped by netflix. The company met earning expectations, with revenues better than estimates. Net subscriber additions was on to the highlight of this report. CEO Reed Hastings, was very upbeat on forward guidance.
The World Economic Forum 2018 in Davos, is now on they way. President Trump will be visiting Davos at the end of this week.
The Dow hung around on either side of neutral today, as Johnson and Johnson after beating analyst estimates, sold off because the guidance fell short of expectation. The Nasdaq was today's outperformed thanks to Netflix.
Nine of the eleven S&P sectors, closed with moderate gains today. Technology, utilities, consumer goods, and financial were the leader.
Factors Influencing Today's Market
The US 10 year bond yield close the session at 2.64%.
Crude oil prices rose in today's session. WTI crude oil closed at $64.47/barrel, up 1.54%.
Strong earning results from Netfix.
Better than expected earnings form Johnson & Johnson and Traveler's.
Asian and European markets continue to rack up gains.
Market Close Volume Traded And Advance Decline Ratio
At the close of trading stocks were mixed. The Dow lost 3.79 points, Nasdaq rose 52.26 points, S&P added 6.16 point . Total NYSE volume traded, 3.49 billion shares. Advancing outpaced Declining shares better than 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
Comments