Tuesday's Market Recap - Stocks Took A Breather Today As Home Depot Earnings, Disappoints.
What is The Premarket Telling Us?
7:30 AM.
Stock futures are mostly in the red this morning. Dow futures down 79 points, Nasdaq futures down 18 points, and the S&P down 4 points. Fed Chair Jerome Powell speaks today, and investors will be paying keen interest in what he has to say.
On The Bond Desk:
The US 10 Year Bond Yield at 2.67%, down 0.01%.
Currency Desk:
Euro dollar: 1.13
UK Pound: 1.32
Crude Oil:
WTI crude oil futures at $55.66/barrel, up 0.32%.
On the Earnings Calendar:
Disappointing Q4 earning results from Home Depot. Sales and guidance were lower than expected.
In M&A News:
None
What About The Asian And European Markets?
Major Asian markets were lower. Japan (Nikkei 225) down 0.37%, Shanghai down 0.67%, Hong Kong (Hang Seng) down 0.63%
Major European markets were mixed today. German (DAX) up 0.31%, France CAC 40 up 0.13%, London FTSE 100 down 0.45%.
Market And Sector Dynamics
Stocks opened slightly lower today, under pressure from Home Depot, and Caterpillar, after disappointing earnings results from Home Depot, and a downgrade for Caterpillar. The Dow lost 40 points, Nasdaq fell 19 points, and the S&P fell 3.75 points.
Markets traded lower for the most of the session, despite a brief stay in positive territory an hour or so before the closing bell.
Basic Materials, Healthcare, Energy, Industrials, and Real Estate.
Factors Influencing Today's Market
Weaker than expected quarterly earnings results from Home Depot.
Consumer Index rebounded in February to 131.4 vs 125 consensus estimates, and the 121.7 at the height of the government shutdown.
December Housing Starts were unusually weak, coming in at 1.0789 million vs 1.214 revised for November.
Major Asian markets closed lower in their session.
Market Close Volume Traded And Advance Decline Ratio
At session end, major indices were lower, the Dow fell 33.97 points, Nasdaq lost 5.16 points, and the S&P give up 2.21 points. Total NYSE volume traded a light 3.61 billion shares. Declining shares outpaced Advancing shares by 1.42:1.
ToData Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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