Tuesday's Market Recap - Stock Paused Today After A Six Day Rally.
What is The Premarket Telling Us?
7:00 AM.
Stock futures are printing green at this hour. Dow futures up 114 points, Nasdaq futures up 46 points, and S&P futures up 13 points. Global stocks are in rally mode.
On The Bond Desk:
The US 10 Year Bond Yield at 2.14%, up 0.06%.
Currency Desk:
Euro dollar: 1.13
UK Pound: 1.27
Crude Oil:
WTI crude oil futures at $53.73/barrel, up 0.88%.
On the Earnings Calendar:
None.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets. Japan (Nikkei 225) up 0.33%, Shanghai 2.58%, Hong Kong (Hang Seng) 0.76%.
Major European markets. German (DAX) up 0.92%, France CAC 40 up 0.48%, London FTSE 100 up 0.31%
Market And Sector Dynamics
US stocks rallied big at the start of trading, with the Dow surging 164 points, Nasdaq rose 83 points, and the S&P gained 21 points. The S&P is up for the 6th. day in a row. Crude oil is also moderately higher, at $53.77/barrel, up 0.93%.
Stocks began to lose steam shortly after the open, falling into negative territory around noon,with the Dow down 60 points, the low of the session, around 1:00 PM. Stocks returned to positive territory for a short while near 2:00 PM, but failed hold on to the gains.
Today's session was fairly balanced, with six of the eleven S&P sectors recording modest gains, led by Consumer Staples, Consumer Discretionary, and Communication Services. Industrials, Utilities, and Healthcare were the major laggards on markets.
Factors Influencing Today's Market
Major Asian and European markets rallied in their session today.
May PPI indicates Inflation inched up 0.1% suggesting modest inflation pressure.
WTI crude oil closed modestly up at $53.27/barre, up 0.02%.
US 10 Year Bond Yield closed at 2.14%, down 0.23%.
Market Close Volume Traded And Advance Decline Ratio
At the end of trading, the Dow lost 14.17 points, Nasdaq lost 0.60 point, and the S&P slipped 1.01. Total NYSE volume traded, a modest 3.29 billion shares. Advancing and Declining shares were even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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