Monday's Market Recap - Big Tech Has Regained Its Mojo, In Today's 'Market Melt Up.'
What is The Premarket Telling Us?
7:30 AM.
US stock futures are mostly unchanged ahead of the start of trading this morning. Dow futures are up 20 points, Nasdaq futures up 7 points, and S&P futures up 2.25 points.
On The Bond Desk:
The US 10 Year Bond Yield at 2.69%, up 0.05% or five basis points.
Currency Desk:
Euro dollar: 1.14
UK Pound: 1.30
Crude Oil:
WTI crude oil futures at $55.07/barrel, down 0.34%.
On the Earnings Calendar:
Alphabet/Google reports 4th Qtr. Earning after the closing bell this evening.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets. Japan (Nikkei 225) gained 0.46%, Shanghai, Hong Kong (Hang Seng) are closed for Chinese New Year celebrations.
Major European markets were mixed. German (DAX) fell 0.04%, France CAC 40 down 0.38%, London FTSE 100 up 0.20%.
Market And Sector Dynamics
Stocks open the trading day mostly flat. The Dow fell 9 points, Nasdaq rose 4 points, and the S&P down 1 point. Crude oil also reversed course this morning, after pushing higher in the last few days. WTI crude down 1.97%, at $54.17/barrel.
Markets meandered just below the flat line for most of the morning session, and began to "melt upward' just before noon, and continued its upward move, right into the close of trading.
Nine of the eleven S&P sector closed the the session with with gains, led by Technology, Industrials, Communication Services, Real Estate, Consumer Discretionary, Consumer Staples, and Financials. Financials and Basic Materials were lower.
Factors Influencing Today's Market
Shares of big technology companies rallied in today's session, led by Facebook, Google, Netflix, along with Proctor and Gamble.
Markets in China are closed for the Chinese New Year celebrations.
Crude oil lost some ground in today's trading. WTI crude oil closed at $54.75/barrel, down 0.87%.
European markets were mixed in today's session.
Market Close Volume Traded And Advance Decline Ratio
The major indices were all higher at the close of trading. The Dow surged 175.48 points, Nasdaq up 83.67 points, and the S&P added 18.34 points. Total NYSE volume traded, a light 3.32 billion shares. Advancing shares outpaced Declining shares better than 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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