Friday's Market Recap - Investor Cheer June's Strong Employment Report.
What is The Premarket Telling Us?
7:00 AM
Stock index futures are mixed, ahead of the US Employment report due out at 8:30 AM. Dow futures down 38 points, Nasdaq futures up 5.25 points, S&P futures down 0.75 point. Asian stocks were up overnight.
On The Bond Desk:
The US 10 Year Bond Yield sits at 2.93%
Currency Desk:
Euro dollar: 1.17
UK Pound: 1.32
Crude Oil:
WTI crude oil futures are modestly down at $72.34/barrel, down 0.82%.
On the Earnings Calendar:
None
In M&A News:
None
What About The Asian And European Markets?
Major Asian markets closed with gains. Japan (Nikkei 225) rose 1.12%, Shanghai up 0.5 %, Hong Kong (Hang Seng) up 0.47%
Major European markets were modestly higher. German (DAX) up .026%, France CAC 40 up 0.18%, London FTSE 100 0.19%
Market And Sector Dynamics
Markets opened mostly flat after the US and China imposed modest tariffs on each other. A few minutes after the start of trading the Dow was down 4 points, Nasdaq was up 9.5 points, and the S&P was up 1 point.
Despite tariffs, and retaliation worries, stock gained upward momentum, in the mid-morning session, due largely to a strong employment report, showing 213, 000 new jobs were created in June, and the unemployment rate ticking back up to 4%.
Markets maintained its upward trajectory for the entire trading session, closing near the high of the day.
All eleven S&P sectors closed today's session with moderate gains, led by healthcare, technology, consumer discretionary, utilities, energy, and financials.
Factors Influencing Today's Market
The US and China has imposed reciprocal tariffs on some goods, which markets seems to be ignoring for now.
Crude oil prices rose moderately today. WTI crude oil price closed at $73.80/barrel, up 1.18%.
This week's Baker Hughes US Oil Rig Count rose by 5 rigs to 863 total.
Asian and European stocks closed the day higher.
Market Close Volume Traded And Advance Decline Ratio
At the close, the Dow gained 99.74 points, Nasdaq gained 101.96 points, and the S&P added 23.21 points. Total NYSE volume traded, a light 2.54 billion shares. Advancing shares outpaced Declining shares nearly 3:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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