Tuesday's Market Recap - As Tariffs & Retaliation Appear More Likely, Investors Take Profits
What is The Premarket Telling Us?
7:30 AM.
US stock futures are triple digit higher at this point in the premarket. Dow futures are up 119 points, Nasdaq futures up 41.75 points, and the S&P futures up 11 points. Today is a shortened trading day ahead of the July 4th celebrations tomorrow.
On The Bond Desk:
The US 10 Year Bond Yield at 2.99%.
Currency Desk:
Euro dollar: 1.16
UK Pound: 1.32
Crude Oil:
WTI crude oil futures at $74.79/barrel, up 1.15%.
On the Earnings Calendar:
None
In M&A News:
None
What About The Asian And European Markets?
Major Asian markets were mostly lower. Japan (Nikkei 225) down 0.12%, Shanghai rose 0.41%, Hong Kong (Hang Seng) lost 1.14%.
Major European markets closed with gains in their session. German (DAX) up 0.91%, France CAC 40%, London FTSE 100 up 0.60%
Market And Sector Dynamics
Stocks opened the shortened trading day higher. The Dow surged 106 points, Nasdaq rose 5 points, and S&P added 7 points. Crude oil continues to rise, with WTI at $75.15/barrel up 1.62%
Markets trended lower after the open, gradually losing all the morning's gains, finishing at the low of the day, with the Dow down triple digits, retracing a lost of over 200 points, in the session.
Six of the eleven S&P sectors closed the session with modest gains, led by telecommunications services, energy, real estate, utilities, and healthcare. Technology, financials, industrials, and materials lagged in the session.
Factors Influencing Today's Market
A the reality of tariffs and retaliation appear more real, investors take profits.
Crude oil closed modestly higher in today's trading. WTI crude oil closed the day at $74.14/barrel, up 0.27%.
Manufacturing had a good month. May's Factor Orders rose 0.4%, and was better than the consensus neutral that was expected.
Asian markets were mostly lower today, while European stocks ended with gains.
Market Close Volume Traded And Advance Decline Ratio
At the close of trading markets were lower. The Dow declined 132.36 points, Nasdaq lost 65.01 points, and the S&P fell 13.49 points. Total NYSE volume traded, Total NYSE volume traded 1.89 billion shares. Advancing shares outpaced Declining shares nearly 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
Comments