Wednesday's Market Recap - Stocks Took A Breather Today.
What is The Premarket Telling Us?
7:00 AM.
US stock futures are mildly higher with the Dow futures up 12 points, Nasdaq futures up points, and S&P futures up 0.50 point. Asian markets were mostly lower, overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 1.87%, up 0.08%.
Currency Desk:
Euro dollar: 1.10
UK Pound: 1.28
Crude Oil:
WTI crude oil futures at $57.26/barrel, up 0.05%.
On the Earnings Calendar:
CVS reported better than expected third quarter earnings results
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets were slightly lower. Japan (Nikkei 225) down 0.07%, Shanghai fell 0.43%, Hong Kong (Hang Seng) added 0.02%.
Major European markets closed with gains. German (DAX) rose 0.24%, France CAC 40 up .034%, London FTSE 100 gained 0.12%.
Market And Sector Dynamics
Stocks open today's trading session mildly mixed. The Dow rose 6 points, Nasdaq fell 9 points, and the S&P was up 0.50, a fraction of a point. WTI Crude Oil price is also up early at $57.31/barrel, up 0.14%.
Markets remained mostly neutral for all of the morning session, falling to the low of the day around noon time, with the Dow down about 70 points. Stocks gradually bounced of the earlier lows during the afternoon session, finally closing just below neutral.
Market breath was fairly mostly balanced, with seven of the eleven S&P sectors closing with modest gains, led by Healthcare, Consumer Staples, Financials, Real Estate, and Utilities. Energy, and Communication Services were the days laggards
Factors Influencing Today's Market
Strong quarterly performance from CVS. The company handily beat earnings and revenue expectation.
This week's EIA Petroleum Status Report show US crude oil inventories rose 7.9 million barrels, to 446.8 million barrels.
WTI Crude Oil price closed at $56.35/barrel, down 1.54%.
The US 10 Year Bond Yield closed at 1.830%, down 1.45%.
Market Close Volume Traded And Advance Decline Ratio
Today markets ended flat to slightly lower. The Dow slipped 0.07 point, Nasdaq fell 24.05 points, and the S&P gained 2.16 points. Total NYSE volume traded, a moderate 4.48 billion shares. Declining shares outpaced Advancing shares by 1.22:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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