Monday's Market Recap - Dow Falls. Investors Worry About US China Trade, And Fear Of Another Gov
What is The Premarket Telling Us?
7:00 AM.
Stock futures are all positive this morning, ahead of the start of trading. Dow futures up 62 points, Nasdaq futures up 23.75 points, and S&P futures up 7 points. With five day to go, we could have another shutdown if negotiators in Washington cannot resolve the Border Wall issue. Forth quarter earning season is nearing its end, so investors have one less catalyst to rely on this week.
On The Bond Desk:
The US 10 Year Bond Yield sits at 2.63%, down 0.02% or two basis points.
Currency Desk:
Euro dollar: 1.13
UK Pound: 1.29
Crude Oil:
WTI crude oil futures at $52.30/barrel, down 0.80%.
On the Earnings Calendar:
None.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets. Japan (Nikkei 225) closed for holiday %, Shanghai up 1.36% %, Hong Kong (Hang Seng) up 0.71%, after being closed for last weeks Lunar New Year celebrations.
Major European markets were higher in their session. German (DAX) up 0.99%, France CAC 40 up 1.06%, London FTSE 100 0.82%
Market And Sector Dynamics
Stock were moderately higher at the start of trading. The Dow gained 70 points, Nasdaq rose 38 point, and the S&P up 9 points.
A degree of optimism regarding US China negotiation, and legislators trying to stave off a second government shutdown, before the February 15th. deadline, helped markets, early.
Share of Tesla received an update today, with a target price of $450.00/share up 4%. Shares of the company closed higher.
Markets reached the high of the day early in the morning session, with the Dow hitting 90 points, at the high, before fading in the mid-morning, and continued to decline for the rest of the session, into the close.
Today's session was mostly mixed. Seven of the eleven S&P sectors closed with modest gains, led by Industrials, Energy, Financials, Real Estate, Consumer Staples, Basic Materials, and Consumer Discretionary. Communication Services, and Healthcare were the laggards.
Factors Influencing Today's Market
Legislator continue their Border Wall negotiations in Washington, to avoid another government shutdown.
Trade negotiation between the US and China appears to be on track, in China.
Tesla received at upgrade today, with a new target price of $450/share.
Asian markets close solidly higher today, after being closed for the Lunar New Year last week.
Major European markets also closed higher today.
Market Close Volume Traded And Advance Decline Ratio
At the end of the trading markets were mixed. The Dow fell 53.22 points, Nasdaq gained 9.71 points, and S&P added 1.92 point. Total NYSE volume traded, a light 3.28 billion shares. Advancing shares outpaced Declining shares by 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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