Tuesday's Market Recap - Stock Held On To Modest Gains As Walmart Tops Earnings Expectation.
What is The Premarket Telling Us?
7:00 AM.
US stocks futures are modestly lower, on the first day of the shortened trading week. The Dow down fell 80 points, Nasdaq down 19 points, and S&P fell 9 points.
On The Bond Desk:
The US 10 Year Bond Yield at 2.67%, up 0.01%.
Currency Desk:
Euro dollar: 1.12
UK Pound: 1.29
Crude Oil:
WTI crude oil futures at $56.04/barrel, up 0.51%.
On the Earnings Calendar:
Walmart reported blowout fourth quarter earning results. The company outperformed on all metrics, earning, sales, both bricks and mortar, and online operations.
European bank, HSBC reported disappointing earnings results.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets mixed. Japan (Nikkei 225) up 0.10%, Shanghai up 1.27%, Hong Kong (Hang Seng) down 0.42%
Major European markets ended mixed as well . German (DAX) added 0.09%, France CAC 40 down 0.15%, London FTSE 100 lost 0.56%.
Market And Sector Dynamics
Stock opened the trading session modestly lower, with the Dow down 29 points, Nasdaq down 9 points, and the S&P down 5 points. Crude oil was a fraction lower, early in the session. WTI crude oil price at $55.48/barrel, down 0.18%. Giant retailer, Walmart reported stellar fourth quarter financial results, that blew away earning and revenue expectation, both in store, and online.
Stocks remained lower for most of the morning session, but rallied higher just before noon, before losing, then gaining,some momentum at mid-afternoon. In the final thirty minutes of trading, markets lost steam, but manage to hold on just above the flat line.
Nine of the eleven S&P sectors closed the session with modest gains, led by Basic Materials, Utilities, Consumer Staples, Consumer Discretionary, Communication Services, and Energy.
Factors Influencing Today's Market
Surprisingly strong quarterly earnings performance from Walmart.
Disappointing earnings performance from European bank HSBC.
Crude oil traded slightly lower in the session. WTI crude oil closed at $56.09/barrel, down 0.32%.
Asian and European markets were mixed in today's trading.
Market Close Volume Traded And Advance Decline Ratio
At the end of trading today, the Dow gained 8.07 points, Nasdaq rose 14.36 points, and S&P up 4.16 points. Total NYSE volume traded, a light 3.48 billion shares. Advancing shares outpaced Declining shares almost 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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