Monday's Market Recap - Trade Deal With Mexico Sends Stocks Soaring.
What is The Premarket Telling Us?
7:00 AM.
US stock futures are moderately positive in the early market set up. Dow futures up 77 points, Nasdaq futures up 28 points, and the S&P futures up 7 points. Asian were mostly higher overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 2.83%.
Currency Desk:
Euro dollar: 1.16
UK Pound: 1.28
Crude Oil:
WTI crude oil futures at $68.03/barrel, down 0.42%.
On the Earnings Calendar:
None
In M&A News:
None
What About The Asian And European Markets?
Major Asian markets recorded solid gains. Japan (Nikkei 225) up 0.88%, Shanghai up 1.89%, Hong Kong (Hang Seng) up 2.17%
Major European markets were also higher. German (DAX) up 1.16%, France CAC 40 up 0.86%, London FTSE 100 up 0.19%
Market And Sector Dynamics
US stocks opened the trading day enthusiastically higher, with the Dow jumping 154 points, Nasdaq up 48 points, and the S&P 15 points. Investors are anticipating an announcement from the White House, that they have reached a new bilateral trade deal with Mexico, which is a positive for markets. Negotiations have been going on for about one year.
Shares of automobile makers, industrials, and materials companies are surging on this news. Crude oil prices also rose early in the session, with WTI crude oil, at $68.82/barrel, up 0.15%.
Markets remained significantly elevated for the entire trading session. Nine of the eleven S&P sectors closed the day with solid gains, led by basic materials, financials, industrials, technology, energy, and consumer discretionary.
Factors Influencing Today's Market
The announced framework of a trade deal between the US and Mexico, which is seen as positive for markets
Crude oil prices traded modestly higher in the session. WTI crude oil price closed at $68.87/barrel, up 0.29%.
Asian and European markets close solidly higher in their sessions.
Market Close Volume Traded And Advance Decline Ratio
At the end of today's trading, the major market indices were all higher. The Dow soared 259.29 points, Nasdaq gained 71.92 points, and the S&P rose 22.05 points. Total NYSE volume traded, Total NYSE volume traded, a light 2.82 billion shares. Advancing shares outpaced Declining shares just short of 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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