Thursday's Market Recap - Dow Closes Mostly Flat In Lackluster Trading Session.
What is The Premarket Telling Us?
7:00 AM.
Stock futures are mostly unchanged at this hour. Dow futures down 23 points, Nasdaq futures up 1 point, and S&P futures up 2.25 points. Investors are trying to get a grip of disappointing China economic data.
On The Bond Desk:
The US 10 Year Bond Yiel,d sits at 2.61%, up 0.01%.
Currency Desk:
Euro dollar: 1.13
UK Pound: 1.32
Crude Oil:
WTI crude oil futures at WTI crude oil at $58.16/barrel, up 0.17%.
On the Earnings Calendar:
Oracle, Adobe, and Alta, report quarterly earnings after the bell this evening.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets traded mostly lower today. Japan (Nikkei 225) slipped 0.02%, Shanghai down 1.20%, Hong Kong (Hang Seng) up 0.15%.
Major European markets traded higher. German (DAX) was up 0.13%, France CAC 40 gained 0.82%, London FTSE 100 up 0.37%.
Market And Sector Dynamics
Stocks opened the trading day mostly flat. The Dow rose 6 points, Nasdaq up 1 points, and the S&P down 0.50 a fraction. Weaker than expected China economic data is weighing on global markets, as Industrial Output fell to 17 year low. Also in the mix this morning, is a report that Trump - Xi meeting has been pushed back from the end of March, to sometime in April.
WTI crude oil is moving higher early, currently at $58.48/barrel, up 0.38%.
Today's, was a lackluster trading session, with the markets hanging out in a narrow range, just North or South of the flat line.
Six of the eleven S&P sectors close the day with modest losses, led by Basic Materials, Communication Services, Industrials, Consumer Staples, and Healthcare were the major laggards. Financials and Technology had some gains today.
Factors Influencing Today's Market
Stocks were mostly muted today, as news that President Trump and President Xi would not be meeting at the end of March, as was anticipated, signalling a trade deal is not yet ready to be signed.
Share of Boeing are still under some pressure, as the impact of grounding 737 MAX 8 and MAX 9 is still being assessed by the markets.
Crude oil traded moderately higher today. WTI crude oil closed at $58.61/barrel, up 0.60%.
This week's Initial Jobless Claims rose 6,000 to 229,000 claims. Confirming the labor economy is still healthy.
January New Home Sales came in at 607K, just shy of the 612K consensus estimates.
Market Close Volume Traded And Advance Decline Ratio
At the end of today's session, markets were mostly unchanged. The Dow added 7.05 points, Nasdaq fell 12.50 points, and S&P slipped 2.44 points. Total NYSE volume traded, 3.45 billion shares. Declining shares outpaced Advancing shares by 1.13:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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