Thursday's Market Recap - Stocks Ended Mixed After Facebook Q2 Earnings Disappoint.
What is The Premarket Telling Us?
7:00 AM.
US stocks are mixed at the hour. Dow futures up 26 points, Nasdaq futures down 64 points, under pressure after Facebook's disappointing Q2 results yesterday after the close. The S&P futures are down 6 points.
On The Bond Desk:
The US 10 Year Bond Yield at 2.94%
Currency Desk:
Euro dollar: 1.17
UK Pound: 1.31
Crude Oil:
WTI crude oil futures $69.20/barrel, 0.12%.
On the Earnings Calendar:
Facebook reported disappointing Q2 Earning results after the bell yesterday evening. Shares of the company are down 20% in the premarket, and will weighs heavy on the markets today.
In M&A News:
Qualcomm has called off his deal to acquire NXPI, after Chinese Authorities fails to approve the deal.
What About The Asian And European Markets?
Major Asian markets ended lower. Japan (Nikkei 225) fell 0.12%, Shanghai lost 0.74%, Hong Kong (Hang Seng) down 0.48%.
Major European markets closed higher, cheering the tentative agreement between EU President Jean Claude Juncker and the US Administration, to hold off on new tariffs and retaliations, for now. German (DAX) gained 1.83%, France CAC 40 rose 1%, London FTSE 100 up 0.06%.
Market And Sector Dynamics
US stocks opened the trading day higher. The Dow gained 54 points, Nasdaq dived 84 points, and the S&P fell 11 points. Shares of Facebook are down 20%,
The markets went their separate ways in today's session. The traded solidly higher for the entire session, while the Nasdaq was decidedly lower in today's trading, under pressure from Facebook's disappointing earnings results, after the close on Wednesday, and and taking down other technology stocks in sympathy.
Seven of the eleven S&P sectors closed today's session with gains, led by utilities, energy, industrials, basic materials, consumer staples, and telecommunications services. Technology, and consumer discretionary were the laggards.
Factors Influencing Today's Market
Disappointing Q2 Earnings performance from Facebook pressured technology stocks in the session.
Crude oil traded higher in today's session. WTI crude price closed at $69.61/barrel, up 0.41%.
Chipmaker, Qualcomm called off its deal to acquire NXPI, after the Chinese failed to approve theAdeal.
This week, Initial Jobless Claims rose 9000, to 217,000 vs 219,000 consensus estimate.
Asian markets were lower, while European stocks recorded gains, after the framework agreement between the US and EU President Jean Claude Juncker, in Washington on Wednesday.
Market Close Volume Traded And Advance Decline Ratio
At the close of trading the major indices were mixed. The Dow gained 112.97 points, Nasdaq lost 80.05 points, and the S&P gave up 8.63 points. Total NYSE volume traded, a moderate 3.61 billion shares. Advancing shares outpaced Declining shares by 1.43:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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