Tuesday's Market Recap - Another Day Of Strong Gains US China Trade Talks Shows Promise.
What is The Premarket Telling Us?
7:30 AM.
US stock futures are moderately positive ahead of the opening bell. Dow futures are up 180 points, Nasdaq futures up 50 points, and the S&P futures up 17 points. Asian was mostly higher overnight.
On The Bond Desk:
The US 10 Year Bond Yield 2.68%, up 0.02%
Currency Desk:
Euro dollar: 1.14
UK Pound: 1.27
Crude Oil:
WTI crude oil futures at $49.17/barrel, up 1.34%
On the Earnings Calendar:
None
In M&A News:
None
What About The Asian And European Markets?
Major Asian markets were mostly higher. Japan (Nikkei 225) up 0.82%, Shanghai down 0.26%, Hong Kong (Hang Seng) up 0.15%
Major European markets were comfortably higher. German (DAX) gained 0.52%, France CAC 40 rose 1.15%, London FTSE 100 up 0.74%.
Market And Sector Dynamics
Today's trading session began with a bang this morning. The Dow rose 310 points, the Nasdaq up 49 points, and the S&P gained 20 points. Reports that the US and China are making good progress in trade negotiations, and has extended the discussion for an extra day. Investors are cheering that news, by pushing stocks higher, early.
The Dow reach the a high of 334 points shortly after the open, but pulled back around 11:00 AM, rebounding, just after the close of the European markets, around 11:30 AM.
Stocks continued to climb back toward the morning high, as the afternoon session progressed, as market sentiment has improved, and investors are becoming more convinced that a market bottom is in.
All eleven S&P sectors closed with gains in today's session, led by Real Estate, Communication Services, Industrials, Utilities, Consumer Discretionary, Consumer Staples, Healthcare, Technology, and Energy.
Factors Influencing Today's Market
Report that trade talks between the US and China have been going well in Bejing.
Investor sentiment about the markets has been improving.
The VIX, the measure of market volatility has declined considerably from 35 a couple week ago to 21 today.
Crude oil traded higher today, with WTI crude oil closing at $49.99/barrel, up 3.03%.
Market Close Volume Traded And Advance Decline Ratio
When the bell rang at 4:30 PM, markets were all higher. The Dow gained 256.10 points, Nasdaq rose 73.53 points, and the S&P was up 24.72 points. Total NYSE volume traded, 4.04 billion shares. Advancing shares outpaced Declining shares by 4:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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