Friday's Market Recap - Mixed Session To End A Solid Week Of Gains.
What is The Premarket Telling Us?
8:00 AM.
Looks like we will have another positive day in the markets, today, if we take out cue from US stock futures. Dow futures are modestly up by 53 points, Nasdaq futures up 20.75 points, and the S&P up 6.25 points.
On The Bond Desk:
The US 10 year bond yield at: 2.89% , down 0.02% or two basis points.
Currency Desk:
Euro dollar at 1.24
UK Pound at 1.40
Crude Oil:
WTI crude oil futures at $61.65 /barrel, up 0.51%.
On the Earnings Calendar:
J M Smuckers, reported better than expected quarterly performance, before the opening bell.
Coca Cola, beat quarterly revenue expectations, while earnings were in line with expectations.
Deere & Company, topped quarterly earnings, but revenues fell short, but the company did raise guidance.
Kraft Heinz, and Campbell Soup Company, reported weak quarterly results, disappointing investors.
In M&A News:
None.
What About The Asian And European Markets?
In the Asian markets, Japan (Nikkei 225) up 1.19%, Shanghai and Hong Kong (Hang Seng) closed for Chinese New Year holidays.
European markets also closed positive. Germany (DAX) up 0.86%, France CAC 40 up 1.13%, London FTSE 100 gained 0.83%.
Market And Sector Dynamics
Stocks opened the trading day moderately lower. The Dow fell 50 points, Nasdaq lost 21 points, and S&P lost 6 points. Markets turned positive shortly after the open, with the Dow at its peak, up 230 points, early in the afternoon session.
Stock went negative a short while later, after announcement, from the special counsel's office handing down indictments on 13 Russian individuals and institutions, for their involvement in tampering with the 2016 US presidential election.
Despite bouncing off the afternoon low, stock could not regain the morning highs, to close modestly positive.
Seven of the eleven S&P sectors close modestly higher, led by consumer cyclicals, utilities, healthcare. Basic materials, energy and technology, were the main drag on the session.
Factors Influencing Today's Market
Crude oil rose in today's session. WTI crude oil price closed at $61.68/barrel. up 0.55%.
This week's Baker Hughes Oil Rig count rose 7 to 798 total.
Strong quarterly earnings from JM Smuckers, Coca Cola, and Deere & Company.
Today's range on the US 10 year bond 2.85% - 2.88%
Asian and European stocks ended higher in their sessions.
Announcement in Washington that 13 individuals and institutions have been indicted in the Russian election probe.
Market Close Volume Traded And Advance Decline Ratio
At the end of trading, markets were mixed. The Dow gained 19.01 points, Nasdaq lost 16.96 points, and the S&P was off by 1.02 point. Total NYSE volume traded, a moderate 3.65 billion shares. Advancing shares outpaced Declining shares nearly 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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