Monday's Market Recap - Trade War Fears Continues To Spook Markets.
What is The Premarket Telling Us?
7:00 AM.
US stocks futures are all negative this morning. Dow futures down 175 points, Nasdaq futures down 52 points, and the S&P futures down 17 points. Trade tensions between the US and China are heightening, causing investors some concern.
On The Bond Desk:
The US 10 Year Bond Yield at 2.92%
Currency Desk:
The $US continues to strengthen over the last few days.
Euro dollar: 1.16
UK Pound: 1.32
Crude Oil:
WTI crude oil futures @$64.79/barrel, down 3.14%
On the Earnings Calendar:
None
In M&A News:
None
What About The Asian And European Markets?
Major Asian markets, are on holiday today. Japan (Nikkei 225) up %, Shanghai down %, Hong Kong (Hang Seng) %.
Major European markets were lower today. German (DAX) 0.74%, France CAC 40 fell 0.48%, London FTSE 100 lost 1.70%.
Market And Sector Dynamics
Stocks opened the trading day significantly lower, with the Dow down 230 points, Nasdaq down 60 points, and the S&P down 21 points, on worries about tariffs. Crude oil prices are modestly higher, early at $65.19/barrel, up 0.18%.
Declining versus Advancing shares were 3:1 early in the session.
Markets remained lower for the entire trading session, with basic materials, and industrials putting most pressure on the Dow, while shares of technology companies outperformed to the upside. At the low the Dow was down near 300 points.
Factors Influencing Today's Market
Talk of additional tariffs between the US and China has heated up, giving investors pause.
Crude oil recorded solid gains in trading today. WTI crude oil prices closed at $65.85/barrel, up 2.59%.
Asian markets were on holiday today, while European stock lost some ground.
US 10 year bond yield continues to hold the just below the 3% level.
Market Close Volume Traded And Advance Decline Ratio
At the close of trading the Dow fell 124.91 points, Nasdaq lost 0.78 point, and the S&P lost 6.44 points. Total NYSE volume traded, 3.24 billion shares. Advancing shares outpaced Declining shares by 1.27:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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