Thursday's Market Recap - US 10 Year Bond Solidly Over 3.0% Pushing Stocks Lower.
What is The Premarket Telling Us?
7:00 AM.
Stock futures are modestly in the red, at this time. Dow futures down 9 points, Nasdaq futures down 22 points, and S&P futures down 3.25 points. China's trade delegation is expected to meet with the US trade team, in Washington today. Geopolitical tensions
also a confirm for markets.
On The Bond Desk:
The US 10 Year Bond Yield at 3.09%.
Currency Desk:
Euro dollar: 1.17
UK Pound: 1.34
Crude Oil:
WTI crude oil futures at $72.19/barrel, up 0.98%.
On the Earnings Calendar:
Following up on Macy's OK quarterly results, the following retailers reported their results this morning.
Walmart beat quarterly earnings, revenues, and same store sales. Growth from its Online operations was excellent.
Dillard's Department Store quarterly performance also beat analyst expectation.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets close mixed. Japan (Nikkei 225) up 0.53%, Shanghai down 0.48%, Hong Kong (Hang Seng) fell 0.54%
Major European markets ended higher today. German (DAX) up 0.91%, France CAC 40 up 0.98%, London FTSE 100 up 0.70%.
Market And Sector Dynamics
Stocks opened the trading session lower. The Dow lost 42 points, Nasdaq lost 20 points, and the S&P was down 2.98 points. Crude oil prices continue its upward momentum, with WTI currently at $71.85/barrel, up 0.50%.
Stocks climbed off the morning lows to reach a high of near 50 points, around 11:00 AM. Stocks fell from those levels, early in the afternoon session, that saw the Dow down 120 points, at the mid-point of the afternoon session, before bouncing off the lows to recovering half of the losses, at the close.
Six of the eleven S&P sector close today's session with gains, led by utilities, telecommunications services, real estate, and technology. Energy, industrials, and consumer staples close with gains.
Factors Influencing Today's Market
Strong quarterly earning from Walmart and Dillard's was a positive for markets in the session.
Crude oil took a breather in today's session. WTI crude prices closed at $71.49/barrel, unchanged.
This week's Initial Jobless Claims rose 11,000 to 222.000.
Strong quarterly earnings from Walmart.
Dillard's Stores beats quarterly earnings expectation.
Market Close Volume Traded And Advance Decline Ratio
At today's market close, the major indices were all lower. Dow fell 54.95 points, Nasdaq lost 15.82 points, and the S&P slipped 2.33 points. Total NYSE volume traded, 3.40 billion shares. Advancers outpaced Decliners by 1.18:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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