Thursday's Market Recap - Stock Rise As Geopolitical Tensions Ease In The Syria Conflict.
What is The Premarket Telling Us?
7:00 AM.
US stock futures are moderately elevated ahead of the opening bell. Dow futures are up 86 points, Nasdaq futures up 30 points, and S&P up 10.25 points. Major Asian markets closed with losses in the overnight session. Geopolitical concerns will be a concern for markets today, as the US deliberates, if and when it will respond to Syria's use of chemical weapons, on its own people.
On The Bond Desk:
The US 10 Year Bond Yield at 2.79%.
Currency Desk:
Euro dollar: 1.23
UK Pound: 1.41
Crude Oil:
WTI crude oil futures at $68.68/barrel, up 0.21%
Geo
On the Earnings Calendar:
None
In M&A News:
None
What About The Asian And European Markets?
Major Asian markets. Japan closed lower. (Nikkei 225) down 0.12%, Shanghai down 0.87%, Hong Kong (Hang Seng) down 0.22%.
Major European markets closed their session higher. German (DAX) gained 0.98%, France CAC 40 up 0.59%, London FTSE 100 added 0.02%
Market And Sector Dynamics
Stock opened for trading significantly higher, with the Dow surging 206 points, Nasdaq up 40 points, and the S&P added 16 points. Investor are surmising that at attack on Syria, by the US, may not be as imminent, as previously thought. Also US banks are expected to put up solid numbers, when they kick off first quarter earning season on Friday, and that is a positive for markets.
Large US industrial stocks, such as Boeing, Deere, and Caterpillar are leading the markets higher, early, and all 30 Dow stocks are also higher.
Markets remained elevated for the entire trading session. The Dow reached a high of over 400 points, an hour before the close.
Market tone was positive, and the breath was even. Six of the eleven S&P sectors ended the session with gains, led by financials, industrials, technology, basic materials, and healthcare. Utilities, and real estate lagged the markets.
Factors Influencing Today's Market
Further easing of tensions between US, Syria and Russia, as any potential missile attack maybe delayed.
Crude oil continues to rise, as geopolitical risks increases. WTI crude oil price closed at $67.07/barrel, up 0.35%.
Asian markets closed lower, but European stocks closed higher.
This Initial Jobless Claims fell 9000, to 233,000, further confirming continued strength in the labor markets.
Market Close Volume Traded And Advance Decline Ratio
When the markets closed, stock were solidly higher. The Dow gained 293.60 points, Nasdaq rose 71.22 points, and S&P up 21.80 points. Total NYSE volume traded, a light 2.84 billion shares. Advancing shares outpaced Declining shares just better than even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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