Wednesday's Market Recap - Dow Up Triple Digits - A Risk-On Session.
What is The Premarket Telling Us?
7:00 PM.
US stock market setup is mildly positive this morning, on the back of yesterday's triple digit gains. Dow futures are up 21 points, Nasdaq futures up 14 points, and the S&P futures up 1.25 points.
On The Bond Desk:
The US 10 Year Bond Yield up 3.05%, up 0.05% or five basis points.
Currency Desk:
Euro dollar: 1.16
UK Pound: 1.31
Crude Oil:
WTI crude oil futures at $69.88/barrel, up 0.04%.
On the Earnings Calendar:
None
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets were solidly higher overnight . Japan (Nikkei 225) gained 1.08%, Shanghai up 1.14%, Hong Kong (Hang Seng) rose 1.19 %.
Major European markets also closed with gains in today's session. German (DAX) up 0.50%, France CAC 40 rose 0.56 %, London FTSE 100 added 0.42%.
Market And Sector Dynamics
Markets opened the trading day higher. Investors seem bent on continuing yesterday's gains, even as the escalating US China trade war looms large. The Dow rose 35 points, Nasdaq gained 6 points, and the S&P was up 3 points.
Crude oil also started off on strong footing, with WTI crude at $70.21/barrel, up 0.50%. The US 10 year bond yield has so far held on above the three percent level, at 3.061%.
Stocks jump higher at the open and did not look back. At the high of the session the Dow was up more that 200 points, as investors ignored tariffs concerns, inflation fears, and the recent strength of the US dollar.
Seven of the eleven S&P sectors traded lower in today's session, led by utilities, telecommunication services, real estate and consumer staples. Financials, basic materials, and energy were the out-performers to the upside.
Factors Influencing Today's Market
Like yesterday, investors chose to ignore US China trade worries and pushed markets higher.
Crude oil traded higher in the session. WTI crude oil price closed at $71.12/barrel, up 1.82%.
US 10 year bond yield close higher at 3.08% in today's session.
Both Asian and European markets closed higher today.
Market Close Volume Traded And Advance Decline Ratio
Stocks surged higher today's session. At the close the Dow gained 158.80 points, Nasdaq slipped 6.07 points, and the S&P added 3.64 points. Total NYSE volume traded, a moderate 3.26 billion shares. Declining shares outpaced Advancing shares by 1.26:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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