Monday's Market Recap - Stocks Surged Higher On Strong Second Quarter Expectations.
What is The Premarket Telling Us?
7:00 AM.
US stock futures are all higher, indicating markets will open in positive territory. Dow futures up 100 point, Nasdaq futures up 28 points, S&P futures up 10.25 points. Today the President is expected to announce the his pick to replace Justice Kennedy, on the Supreme Court.
On The Bond Desk:
The US 10 Year Bond Yield 2.83%.
Currency Desk:
Euro dollar: 1.17
UK Pound: 1.33
Crude Oil:
WTI crude oil futures $73.67/barrel, down 0.18%.
On the Earnings Calendar:
None
In M&A News:
None
What About The Asian And European Markets?
Major Asian markets were more than one percent higher. Japan (Nikkei 225) up 1.21%, Shanghai up 2.47%, Hong Kong (Hang Seng) up 1.32%.
Major European markets were moderately up. German (DAX) up 0.38%, France CAC 40 up 0.42%, London FTSE 100 0.92%.
Market And Sector Dynamics
Markets opened solidly higher, on strong earnings expectations. The Dow rose 60 points, Nasdaq rose 44 points, and S&P rose 9 points
Stocks rose steadily higher, throughout today's session, closing at or near to the high of the day.
Seven of the eleven S&P sectors closed the trading session with solid gains, led by the recently beaten down Financials, industrials, energy, basic materials, and technology. Utilities, telecommunications services, and real estate, were the major laggards.
Factors Influencing Today's Market
Crude oil traded slightly higher in today's session. WTI crude oil closed at $73.85/barrel, up 0.07%.
Strong second quarter earnings expectations, was a positive for markets today.
Asian and European markets were solidly higher in their sessions.
Investors chose to ignore recently imposed tariffs, and retaliation, at least for today.
Market Close Volume Traded And Advance Decline Ratio
At the end of trading the Dow rocketed 320.11 points, Nasdaq up 67.81 points, and S&P up 24.35 points. Total NYSE volume traded, a moderate 3.02 billion shares. Advancing shares outpaced Declining shares nearly 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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