Monday's Market Recap - Dow Rebounds With 3rd.Biggest Point Day Gain.
What is The Premarket Telling Us?
7:00 AM.
Markets may be looking to rebound from last weeks selloff. US stock futures are highly elevated in the premarket. Dow futures are up 254 points, Nasdaq futures up 91.50 points, and the S&P futures up 29.75 points. Worries about a trade war with China, took markets down last week. Now it looks like an easing of trade war tensions with China, will take us higher in today's session.
On The Bond Desk:
The US 10 Year Bond Yield at 2.83%.
Currency Desk:
Euro dollar: 1.23
UK Pound: 1.42
Crude Oil:
WTI crude oil futures at $65.65/barrel, down 0.35%.
On the Earnings Calendar:
None.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets were mixed to higher. Japan (Nikkei 225) up 0.72%, Shanghai down 0.60%, Hong Kong (Hang Seng) up 0.79%
Major European markets were all lower. German (DAX) down 0.83%, France CAC 40 lower by 0.57%, London FTSE 100 down 0.48%
Market And Sector Dynamics
Stocks began the trading day solidly higher. The Dow rose 397 points, Nasdaq gained 137 points, and the S&P up 41 points. Investors are cheering, what appears to be an easing of tensions between the US and China. Market tone was positive, and markets breath at 8:1 advancing to declining issues.
Technology, industrials, and financials, all of which were out of favor in last week's major selloff. Despite the rally, Facebook, and Alphabet, failed to participate early in the session.
The US 10 year bond yield at 2.84%, while WTI crude oil prices were down modestly at $65.63/barrel, down 0.38%.
Stocks continued to climb steadily higher as the session progressed, with stock closing just off the highs of the day.
All eleven S&P sectors closed the session with solid gains, led by technology, financials, consumer discretionary, healthcare, and basic materials.
Factors Influencing Today's Market
Easing of trade war tensions with China was a positive catalyst for markets in today's session.
The US 10 year bond yield mostly muted during the session.
Crude oil prices closed moderately lower in the session. WTI crude oil prices closed at $65.56/barrel, down 1.28%.
Asian markets were mostly higher, while European markets closed lower.
Market Close Volume Traded And Advance Decline Ratio
When the markets closed the major indices were all higher. The Dow rocketed 669.40 points, Nasdaq surged 227.88 points, and the S&P rose 70.29 points. Total NYSE volume traded, 3.30 billion shares. Advancing shares outpaced Declining shares nearly 4:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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