Monday's Market Recap - Stock Rally As Investors Put Recent Fears On Hold For Now.
What is The Premarket Telling Us?
7:00 AM.
US stocks are mostly higher at this hour. Dow futures up 51 points, Nasdaq futures up 28 points, and S&P futures up 7 points. Today is the last day of trading for September, and the end of the third quarter.
On The Bond Desk:
The US 10 Year Bond Yield 1.68%, unchanged.
Currency Desk:
Euro dollar: 1.09
UK Pound: 1.23
Crude Oil:
WTI crude oil futures at $56.30/barrel, down 1.09%.
On the Earnings Calendar:
None
In M&A News:
None
What About The Asian And European Markets?
Major European markets were also mixed. German (DAX) up 0.38%, France CAC 40 up 0.66%, London FTSE 100 lost 0.24%.
Market And Sector Dynamics
Markets were positive at the open to close out the last trading day of the month, and the third quarter. The Dow rose 68 points, Nasdaq gained 25 points, and the S&P added 7 points.
Stocks melted up during today's session, as investors seems to put Impeachment Inquiry, US China trade war, geopolitics in Iran, and slowing global growth, on the back burner, at least for the day.
The rally was broad based, with nine of the eleven S&P sectors ended the day in positive territory, led by Technology, Healthcare, Consumer Discretionary, Basic Materials, Consumer Staples, Communication Services, Industrials, and Real Estate. Energy and Financials were the laggards.
Factors Influencing Today's Market
Investors pushed its major worries on the back burner for today's session.
China trade negotiators will arrive in the US in next two weeks.
Major Asian markets were mixed, while their European counterparts were most higher.
WTI Crude Oil prices took a haircut today, closing at $54.07/barrel, down 3.29%.
Chicago PMI for September fell 3.3% to 47.1.
US 10 Year Bond Yield closed the day at 1.668%, down 0.92%.
Market Close Volume Traded And Advance Decline Ratio
When trading ended for the day, the major indices were solidly higher, although down from the highs of the session. The Dow gained 96.58 points, Nasdaq rose 59.71 points, and the S&P added 14.95 points. Total NYSE volume traded, a light 3.32 billion shares. Advancing shares outpaced Declining shares by 1.35:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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