Monday's Market Recap - New NAFTA Deal Sends Stock Soaring.
What is The Premarket Telling Us?
7:00 PM.
This morning's market setup is looking very positive, with Dow futures up 212 points, Nasdaq futures up 58.25 points, and the S&P futures up 18.25 points.
On The Bond Desk:
The US 10 Year Bond Yield 3.06%, unchanged.
Currency Desk:
Euro dollar: 1.16
UK Pound: 1.30
Crude Oil:
WTI crude oil futures at $73.43/barrel, up 0.25%.
On the Earnings Calendar:
None
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets closed with solid gains. Japan (Nikkei 225) gained 0.52%, Shanghai closed, Hong Kong (Hang Seng) up 0.26%.
Major European markets fell were mixed in their session. German (DAX) up 0.75%, France CAC 40 up 0.24%, London FTSE 100 down 0.19%.
Market And Sector Dynamics
Stocks opened solidly higher, with the Dow up 140 points, Nasdaq up 44 points, and the S&P 14 points, on news of a deal struck with Canada last night (The new NAFTA). This new deal will complete the last leg of the earlier deal struck between US and Mexiclo. Crude oil up a sliver at $73.31/barrel, up 0.07%.
Stock soared even higher during the morning session, with the Dow up almost 280 points, as the sector who the sectors that would benefit for this new NAFTA deal all outperformed. Shares of Boeing, and all the all Automakers traded higher, including Tesla, settled after it settled its case brought by the Security Exchange Commission.
Six of the eleven S&P sectors closed the session with losses, led by energy, basic materials, industrials, healthcare, technology, and financials. Utilities, real estate, and consumer staples were the main laggards.
Factors Influencing Today's Market
The US and Canada reached a deal to complete the final leg of NAFTA re-negotiations reached with Mexico a few weeks ago.
Crude oil surged in today's trading. WTI crude oil closed at $75.52/barrel, up 2.76%.
General Electric GE in a surprise move announced that CEO John Flannery has been removed, and replaced by Lawrence Culp, the Former CEO of Danaher.
Tesla's Elon Musk, settlement with the SEC was a positive for markets today.
Market Close Volume Traded And Advance Decline Ratio
At the end of trading stocks were mixed. The Dow soared 192.80 points, Nasdaq slipped 9.05 points, and S&P gained 10.61 points. Total NYSE volume traded, a moderate 3.31 billion shares. Declining shares outpaced Advancing shares nearly 1.5:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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