Thursday's Market Recap - Stocks Took A Leg Lower In Today's Session.
What is The Premarket Telling Us?
7:00 AM.
US stock futures are basically flat at this time. Dow futures are lower by 1 point, Nasdaq futures up 3 points, and S&P up 1.75 point.
On The Bond Desk:
The US 10 Year Bond Yield at 2.97%.
Currency Desk:
Euro dollar: 1.15
UK Pound: 1.29
Crude Oil:
WTI crude oil futures @ $66.97/barrel, up 0.04%.
On the Earnings Calendar:
None
In M&A News:
Three pieces of M&A news this morning.
Tribune Media calls off it $4 billion deal with Sinclair, the conservative media company, and is suing Sinclair for bad faith negotiations.
Rite Aid - Albertson $24 billion deal has also been squashed, as Rite Aid shareholders are against the deal.
Data management company, Dunn & Bradstreet is being taken private in a $6.9 billion deal.
What About The Asian And European Markets?
Major Asian markets were mixed . Japan (Nikkei 225) lost 0.20%, Shanghai up 1.83%, Hong Kong (Hang Seng) rose 0.88%
Major European markets were mixed as well. German (DAX) gained 0.34%, France CAC 40 up 0.01%, London FTSE 100 fell 0.45%
Market And Sector Dynamics
Stocks opened modestly higher, with the Dow adding 16 points, Nasdaq up 6 points, and the S&P gained 6 points. Stocks faded just after the open, as investors digested the new of two mergers being aborted. Rite Aid and Albertson has called off their $24 Billion merger. Also, Tribune Media called off its $4 Billion deal with Sinclair.
Stocks remained negative for most of today's session, hanging out just below the flat line, until just before the closing bell.
Factors Influencing Today's Market
Crude oil traded modestly lower today. WTI crude oil prices closed at $66.81/barrel, down 0.19%.
This week's Initial Jobless Claims fell 6,000 to 213,000 claims.
Aborted deals, Rite Aid and Albertson, and Tribune Media and Sinclair.
Asian and European market closed mixed in today's session.
Market Close Volume Traded And Advance Decline Ratio
When trading ended the Dow lost 74.52 points, Nasdaq added 3.46 points, and the S&P fell 4.12 points. Total NYSE volume traded, a moderate 3.02 billion shares. Declining shares outpaced Advancing shares were even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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