Tuesday's Market Recap: Market Recap - Trade Problems With China Holding Markets Back.
What is The Premarket Telling Us?
8:00 AM.
US stock futures are moderately higher at this hour, indicating a higher open. Dow futures are up 133 points, Nasdaq futures up 57 points, and S&P futures up 17 points. Asian markets traded mixed in their sessions.
On The Bond Desk:
The US 10 Year Bond Yield at 3.19%, unchanged.
Currency Desk:
Euro dollar: 1.12
UK Pound: 1.29
Crude Oil:
WTI crude oil futures at $58.77/barrel, down 1.94%.
On the Earnings Calendar:
Home Depot reports strong quarterly results, beating on both the top and bottom line.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets were mixed overnight . Japan (Nikkei 225) down 2.06%, Shanghai up 0.93%, Hong Kong (Hang Seng) up 0.62%.
Major European markets were positive in their session. German (DAX) gained 1.34%, France CAC 40 up 0.85%, London FTSE 100 p 0.01%.
Market Direction And & Sector Dynamics
Stock opened the trading day with moderate gains, with the Dow gaining 70 points, Nasdaq rose 66 points, and S&P added 13 points. Crude oil prices, as of yesterday has declined for eleven straight days, and is currently at $58.57/barrel, down 2.22% in early trading. Home improvement retailer, Home Depot reported a strong Q3 Earning performance before the bell this morning. The company beat on both the top and bottom line, however shares of the company are lower in the early going.
Trade war fears and concern about slowing global health continues to be a problem for markets.
Today's session was quite a volatile one, with the Dow reaching a high of 124 points in the morning session, and a low of 193 points shortly before the close.
Six of the eleven S&P sectors closed with losses, led by energy, healthcare, consumer staples, basic materials, and communication services.
Factors Influencing Today's Market
Better than expected Q3 Earnings performance from Home Depot, beating on both the top and bottom line.
Trade war issues, and slowing global growth continues to be the main problem for markets.
Asian markets closed mixed, while European stocks closed their session higher.
Crude oil has declined for 12 straight days. WTI crude oil closed at $55.72/barrel, down 7.02%.
Market Close Volume Traded And Advance Decline Ratio
At the end of trading, the Dow fell 100.69 points, Nasdaq was unchanged, and the S&P down 4.04 points. Total NYSE volume traded, a moderate 4.03 billion shares. Declining shares outpaced Advancing shares just better than even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
Comments