Friday's Market Recap - Dow Records Modest Gain, As Cautious Investors Tries To Read The Tea Lea
What is The Premarket Telling Us?
US stock futures are modestly in the red, ahead of the opening bell. Dow futures down 28 points, Nasdaq futures down 4.25 points, S&P futures unchanged.
On The Bond Desk:
The US 10 year bond yield at: 2.83%.
Currency Desk:
Euro dollar at 1.23
UK Pound at 1.39
Crude Oil:
WTI crude oil futures at $61.36/barrel, up 0.28%
On the Earnings Calendar:
None
In M&A News:
None
What About The Asian And European Markets?
Major Asian markets were mostly lower. Japan (Nikkei 225) fell 0.58%, Shanghai down 0.63%, Hong Kong (Hang Seng) down 0.12%
European markets were higher. Germany (DAX) up 0.36%, France CAC 40 up 0.29%, London FTSE 100 up 0.34%
Market And Sector Dynamics
Technology and healthcare stocks are taking the lead this morning. The Dow opened up 17 points, Nasdaq gained 21 points, and the S&P added 6.18 points.
Stock climbed higher early in today's session, reaching the high of the day around noon, with the Dow up near 150 points. Markets did moderate slightly in the afternoon session, and into the close.
Today's rally was broad-based, and market tone was positive. Nine of the eleven S&P sector closed the day with gains, led by energy, utilities, industrials and real estate.
Factors Influencing Today's Market
Crude oil prices rose in today's session. WTI crude oil prices closed at $62.34/barrel, up 1.88%.
This week's Baker Hughes Oil Rig count rose by 4 rigs for a total 800 rigs.
The US 10 year bond yield has moderated over the last few session.
European markets were mostly higher in the session.
Market Close Volume Traded And Advance Decline Ratio
At the end of trading, stocks were higher. Dow gained 72.85 points, Nasdaq added 0.25 (point), S&P up 4.68 points. Total NYSE volume traded, 5.20 billion shares. Advancing shares outpaced Declining shares by 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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