Monday's Market Recap - Hint Of Trade Talks With China Push Stocks Higher.
What is The Premarket Telling Us?
7:00 AM.
US stock futures are all in the green this morning. Dow futures up 57 points, Nasdaq futures up 22.5 points, and the S&P up 5 points. Asian markets were higher overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 2.87%.
Currency Desk:
Euro dollar: 1.14
UK Pound: 1.27
Crude Oil:
WTI crude oil futures at $65.76/barrel, up 0.23%.
On the Earnings Calendar:
None.
In M&A News:
Pepsico announced deal to buy Soda Stream for $3.2 billion.
What About The Asian And European Markets?
Major Asian markets were mostly higher. Japan (Nikkei 225) down 0.32%, Shanghai up 1.11%, Hong Kong (Hang Seng) up 1.41%.
Major European markets ended higher. German (DAX) rose 0.99%, France CAC 40 up 0.65%, London FTSE 100 added 0.43%.
Market And Sector Dynamics
Stocks opened today's session with moderate gains, with the Dow jumping 76.81 points, Nasdaq rose 14.25 points, and the S&P added 5.98 points. Investors woke up this morning, to learn that Pepsico has agreed to buy Soda Stream in a deal worth 3.20 billion.
Shares of NIKE hit at all time high in today's session, on upgrades from Piper Jaffray and Susquehanna.
Stocks remained moderately elevated for the entire trading session, as investors pushed markets higher on some optimism that a trade deal with Mexico may be imminent, and low level trade talks could begin with China this week.
Stocks lost some of its earlier steam, late in the afternoon, after the President expressed doubt that a breakthrough with China is near.
Eight of the eleven S&P sectors close with gains, led by basic materials, energy, industrials, and consumer discretionary were the heavy lifters. Utilities and technology lagged the markets.
Factors Influencing Today's Market
Pepsico announced it is buying Soda Streamer in a deal worth $3.20 billion.
Federal Officials and other global central banks meet in Jackson Hole, later this week.
Nike upgraded by Piper Jaffray and Susquehanna.
Crude oil traded modestly higher in the session. WTI crude oil closed at $66.43/barrel, up 0.79%.
Asian and European markets were mostly higher today.
Market Close Volume Traded And Advance Decline Ratio
At the end of trading, the markets were all higher. The Dow gained 89.37 points, Nasdaq rose 4.68 points, and the S&P up 6.92 points. Total NYSE volume traded, a light 2.70 billion shares. Advancing shares outpaced Declining shares better than 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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