Friday's Market Recap - Another Modest Day Of Gains Keep Stocks At Lofty Levels.
What is The Premarket Telling Us?
7:30 AM.
Stock futures are mildly positive at this hour. Dow futures up 25 points, Nasdaq futures up nearly 1 point. Strong earning from Disney, after the close of trading yesterday afternoon.
On The Bond Desk:
The US 10 Year Bond Yield at 1.93%, up 0.12%
Currency Desk:
Euro dollar: 1.10
UK Pound: 1.28
Crude Oil:
WTI crude oil futures at $56.24/barrel, down 1.59%.
On the Earnings Calendar:
Disney reported strong Q3 results after the bell yesterday evening. Shares are surging in the premarket.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets ended mixed. Japan (Nikkei 225) up 0.26%, Shanghai down 0.49%, Hong Kong (Hang Seng) fell 0.70%
Major European markets closed lower. German (DAX) down 0.46%, France CAC 40 down 0.02%, London FTSE 100 down 0.63%.
Market And Sector Dynamics
Stocks opened slightly lower, with the Dow up 11 points, the Nasdaq down 12 points, and the S&P down 4 points, as corporate earning come in better than feared.
Markets remained subdued, and below the flat line for the entire session, before gaining some upward momentum an hour before the close.
Market breath was mostly positive, with eight of the eleven S&P sectors ending in positive territory, led by Healthcare, Technology, Basic Materials, Communication Services, and Industrials.
Factors Influencing Today's Market
Strong quarterly performance from Disney, sent its shares soaring in today's trading session.
WTI Crude Oil price closed the day at $57.24/barrel, lower by 0.15%.
This week's Baker Hughes Oil Rig Count down 7 to 684.
November Consumer Sentiment remained steady at 95.7 vs 95.5 in October.
The US 10 Year Bond Yield 1.945%, up 0.83%.
Major Asian and European markets were mostly lower in their sessions.
Market Close Volume Traded And Advance Decline Ratio
When trading ended, all the major indices were modestly up. The Dow gained 6.44 points, Nasdaq rose 40.80 points, and the S&P added 7.90 points. Total NYSE volume trades, a light 3.44 billion shares. Advancing shares outpaced Declining shares by 1.11:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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