Tuesday's Market Recap - Another Strong Day Of Gains As Investors Focus Less On Trade Worries.
What is The Premarket Telling Us?
US stock futures are pointing higher, early. Dow futures up 58 points, Nasdaq futures up 19.75 points, and S&P futures up 5 points. Asian stocks closed with modest gains overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 2.86%.
Currency Desk:
Euro dollar: 1.17
UK Pound: 1.31
Crude Oil:
WTI crude oil futures ticking higher at $74.24/barrel, up 0.53%
On the Earnings Calendar:
Pepsico reported better than expected Q2 earnings results.
In M&A News:
None
What About The Asian And European Markets?
Major Asian markets mostly higher. Japan (Nikkei 225) up 0.66%, Shanghai up 0.44%, Hong Kong (Hang Seng) down 0.02%
Major European markets moderately higher. German (DAX) up 0.53%, France CAC 40 up 0.67%, London FTSE 100 up 0.05%.
Market And Sector Dynamics
On Wall Street, the trading day began with modest gains. The Dow rose 30 points, Nasdaq gained 14 points, and the S&P gained 4 points. Strong Q2 Earning results from Pepsico, while energy continues to show strength.
Stocks remained solidly elevated for the entire trading session, with the Dow reaching a high of 168 points, around noon.
Ten of the eleven S&P sectors closed the session with gains, led by consumer staples, telecommunications services, utilities, basic materials, and energy. Financials were modestly lower.
Factors Influencing Today's Market
Crude oil traded modestly higher today. WTI crude oil closed at $74.03/barrel, up 0.24%.
Better than expect Q2 Earnings beat by Pepsico.
Major Asian and European markets ended the day with gains.
The May JOLTS report shows reduced modestly to 6.638 million vs 6.840 million in April.
Market Close Volume Traded And Advance Decline Ratio
When trading ended, the Dow gained 143.07 points, Nasdaq gained 3 points, and the S&P gained 9.67 points. Total NYSE volume traded, a light 2.99 billion shares. Advancing and Declining were mostly even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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