Thursday's Market Recap - Another Strong Session As Investors Anticipate A Strong Upcoming Secon
What is The Premarket Telling Us?
7:00 AM.
US stock futures are all pointing decidedly higher this morning, with Dow futures up 173 points, Nasdaq up 33.25 points, and the S&P up 14.50 points. Asian markets were also solidly higher in their sessions, overnight.
On The Bond Desk:
The US 10 Year Bond Yield 2.84%.
Currency Desk:
Euro dollar: 1.16
UK Pound: 1.32
Crude Oil:
WTI crude oil futures at $70.89/barrel, up 0.72%, but well off the recent high of $75.00/barrel.
On the Earnings Calendar:
Airline company, Delta reported strong Q2 Earnings results, handily beating earnings and revenue expectations.
In M&A News:
Chip company, Broadcom, announced last evening after the close, that it will acquire software company, CA Technologies, in a deal worth $19 Billion.
Comcast has increased its bid for the 61% of SKY, the British media and telecommunications company, that is not already owned by 21st. Century Fox. The company may have temporarily put on hold, its bid Fox, perhaps ceding those assets to Disney.
What About The Asian And European Markets?
Major Asian markets closed higher. Japan (Nikkei 225) up 1.17%, Shanghai up 2.16%, Hong Kong (Hang Seng) up 0.60%.
Major European markets closed with gains . German (DAX) up 0.61%, France CAC 40 up 0.97%, London FTSE 100 up 0.78%.
Market And Sector Dynamics
Market opened the trading day significantly elevated, with the Dow surging 178 points, Nasdaq up 39 points, and the S&P up 13 points. Technology stocks, like Apple, Microsoft, Facebook, are moving higher early. Shares of industrial giants, Boeing and Caterpillar are also moving higher, after being beaten down by US - China trade tensions.
Stocks held on to its gains from the start, and despite a momentary dip early in the session, stocks remained elevated for the entire session.
Ten of the eleven S&P sector closed today's session with moderate gains. Technology, industrials, healthcare, consumer discretionary, and telecommunications services were the outperformers.
Factors Influencing Today's Market
Crude oil fell modestly in today's trading. WTI crude oil closed $70.31/barrel, down 0.40%.
Chip maker, Broadcom plans to buy CA Technologies for $19 Billion.
This week's Initial Jobless Claims fell an unexpected 18,000 to 214,000 claims.
Consumer Price Index (CPI) ticked up 0.1% in June.
Major Asian markets closed their session with solid gains.
Investors shook off tariff concerns, focusing instead on strong anticipated Q2 corporate earnings.
Market Close Volume Traded And Advance Decline Ratio
At the end of the trading session, the Dow rocketed 224.74 points, Nasdaq surged 107.30 points, and the S&P gained 24.27 points. Total NYSE volume traded, a light 2.79 billion shares. Advancing shares outpaced Declining shares by nearly 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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