Friday's Market Recap - Energy, Financials, And Nike Responsible For Gains Today.
What is The Premarket Telling Us?
7:00 AM.
Stock futures are modestly positive on the final trading day of June, and the end of the quarter. Dow futures up 72 points, Nasdaq futures up 19 points, and the S&P futures up 6 points.
On The Bond Desk:
The US 10 Year Bond Yield at 2.85%.
Currency Desk:
Euro dollar: 1.16
UK Pound: 1.31
Crude Oil:
WTI crude oil futures at $73.23/barrel, down 0.30%.
On the Earnings Calendar:
Strong quarterly earnings from NIKE after the bell yesterday.
In M&A News:
None
What About The Asian And European Markets?
Major Asian markets closed with gains. Japan (Nikkei 225) rose 0.15%, Shanghai up 2.17%, Hong Kong (Hang Seng) up 1.61%
Major European markets closed up. German (DAX) up 1.06%, France CAC 40 up 0.91%, London FTSE 100 up 0.28%.
Market And Sector Dynamics
Markets opened the trading session with triple digit gains. The Dow rose 150 points, Nasdaq up 44 points, and the S&P up 14 points. Nike is leading markets higher this morning, after a stellar quarterly report, showing strong growth in Asia/China, as well as a return to growth in its US business.
Financials are also on the rise, as 32 of 35 major US banks have passed their annual Fed stress test, and have announced increased dividend and share repurchase programs.
Crude oil is also continuing its march upward, with WTI currently up 0.54%, at $73.82/barrel.
Stocks remained at those elevated levels for most of the session, with the Dow up nearly 300 points at the high of the day. Stocks gave up most of its gains shortly before the close, managing to hold on in positive territory.
Eight of the eleven S&P sectors closed the session with modest gains, let by energy, basic materials, industrials, real estate, and healthcare.
Factors Influencing Today's Market
Crude prices rose moderately in today's session. WTI crude oil closed at $74.15/barrel, up 0.95%.
This week's Baker Hughes Oil Rig count fell 4 to 858 total.
Strong quarterly earning results from NIKE.
Most US banks successfully past the Fed annual stress test.
Major Asian and European markets closed higher.
Market Close Volume Traded And Advance Decline Ratio
At market close the Dow rose 55..36 points, Nasdaq gained 6.62 points, and the S&P rose 2.06 points. Total NYSE volume traded, a moderated 3.50 billion shares. Advancing shares outpaced Declining shares by 1.39:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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