Monday's Market Recap - Disappointing Global PMIs Dominated Trading Today.
What is The Premarket Telling Us?
7:00 AM.
Not certain what to make of US stock futures at this hour. Dow futures are down 6 points, Nasdaq futures up 16 points, and the S&P futures up 2 points. Weak European PMIs is dominating market mood this morning, and Asian market were mostly lower overnight.
On The Bond Desk:
The US 10 Year Bond Yield @ 1.76%, down 0.01%.
Currency Desk:
Euro dollar: 1.09
UK Pound: 1.24
Crude Oil:
WTI crude oil futures at $57.89/barrel, down 0.34.
On the Earnings Calendar:
None.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets were mostly lower. Japan (Nikkei 225) up 0.16%, Shanghai down 0.98%, Hong Kong (Hang Seng) down 0.81%.
Major European markets were decidedly lower. German (DAX) fell 1.01%, France CAC 40 lost 1.01%, London FTSE 100 down down 0.26%.
Market And Sector Dynamics
Stocks opened for trading moderately lower, with the Dow down 78 points, Nasdaq down 5 points, and the S&P down 7 points. Weakness in Purchasing Managers Index (PMI) across the globe are pressuring stocks in early session. WTI Crude Oil is slightly higher early, currently at $58.20/barrel, up 0.19%.
Stocks continued their decline early in the session, with the Dow falling more than 100 points, before gradually returning to positive territory shortly before noon, and remained higher for the rest of the session.
Markets were fairly balanced, with seven of the eleven S&P sectors closing the session with modest gains, led by Consumer Staples, Real Estate, and Technology. Healthcare, Communication Services, Basic Materials, and Industrials, were today's laggards.
Factors Influencing Today's Market
Weak than expected European PMI data dominated markets today.
Asian and European stocks closed their session with losses.
WTI Crude Oil prices closed the day at $58.64/barrel, up 0.95%.
US 10 Year Bond Yield closed at 1.723%, up 0.09%.
Market Close Volume Traded And Advance Decline Ratio
When trading ended for the day, the Dow gained 14.92 points, Nasdaq fell 5.21 points, and the S&P lost 0.29 point. Total NYSE volume traded, a light 3.23 billion shares. Advancing shares outpaced Declining shares by 1.24:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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