Wednesday's Market Recap - Stocks Tank On Geopolitical Tensions After Chemical Weapons Attack B
What is The Premarket Telling Us?
8:00 AM.
US stock futures are under severe downward pressure this morning. Dow futures down 230 points, Nasdaq futures down 57 points, and S&P futures down 24 points. Geopolitical tensions are on tap again, with a presidential tweet seems to put the US in direct confrontation with Russia and Syria in the middle east.
Investors are also gearing up for the second day of testimony from Facebook CEO, Mark Zuckerberg, in the House.
On The Bond Desk:
The US 10 Year Bond Yield at 2.80%.
Currency Desk:
Euro dollar: 1.23
UK Pound: 1.41
Crude Oil:
WTI crude oil futures $66.28/barrel, up 1.18%
On the Earnings Calendar:
None
In M&A News:
None
What About The Asian And European Markets?
Major Asian markets were mostly higher. Japan (Nikkei 225) down 0.49%, Shanghai up 0.56%, Hong Kong (Hang Seng) up 0.55%
Major European markets ended lower. German (DAX) down 0.83%, France CAC 40 down 0.56%, London FTSE 100 down 0.13%.
Market And Sector Dynamics
Markets opened the trading day lower, with the Dow down 197.70 points, the Nasdaq dropped 36.08 points, and the S&P fell 15.37 points, as geopolitical tensions between the US, Syria, and Russia, has resurfaced. In a tweet the President glibly, tweeted that Syria and Russia, better prepare for missiles, which will be coming their way, in response to the the use of chemical weapons, by the Assad's regime, on its people. This could put Russia and the US in direct confrontation.
Stocks remained in negative territory for the entire trading session, as investors tried to figure out the potential for a confrontation with Russia, and a escalation of tensions in the middle east, as Saudi Arabia, reportedly shot down three missles today, which were lobbed from Yemen.
A second day of testimony from Facebook CEO, Mark Zuckerberg, today, this time in the House of Representative.
Nine of the eleven S&P sectors closed the session with losses, dragged down by telecommunications, financials, healthcare, basic materials, and industrials. Energy and real estate, closed the session higher.
Factors Influencing Today's Market
Geopolitical tensions heightens between the US, Russia, and Syria, after chemical weapons attack.
Crude oil prices continued to trade higher in the session. WTI crude oil price closed at $66.82/barrel, up 2%.
This week EIA Petroleum Status report showed crude oi inventories rose 3.3 million barrels, to 428.6 million barrels.
Facebook CEO, Mark Zuckerberg, wrapped up his second day of testimony in Washington, today.
March CPI came in at - 0.1% vs 0.2% last month.
The Fed/FOMC released the minutes their last meeting.
Market Close Volume Traded And Advance Decline Ratio
At the end of trading stocks were lower. The Dow sank 218.55 points, Nasdaq fell 25.27 points, and S&P down 14.68 points. Total NYSE volume traded, 2.99 billion shares traded. Advancing shares and Declining shares were even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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