Thursday's Market Recap - Dow Gains More Than 200 Points, Just Short Of 29K.
What is The Premarket Telling Us?
7:00 AM.
US stock futures are indicating higher, as stocks continue to rally. Dow futures up 94 points, Nasdaq futures up 38 points, and the S&P futures up 10 points. Asian market closed higher.
On The Bond Desk:
The US 10 Year Bond Yield at 1.87%, up 0.04%.
Currency Desk:
Euro dollar: 1.11
UK Pound: 1.30
Crude Oil:
WTI crude oil futures at $59.82/barrel, up 0.35%.
On the Earnings Calendar:
Major US banks begin reporting Q4 Earnings results next week.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets closed with gains overnight. Japan (Nikkei 225) gained 2.31%, Shanghai up 0.91%, Hong Kong (Hang Seng) up 1.68%
Major European markets traded higher. German (DAX) gained 1.31%, France CAC 40 rose 0.19%, London FTSE 100 added 0.31%.
Market And Sector Dynamics
Markets soared at the open as investors appear eager to push stocks to new record highs. The Dow gained 146 points, Nasdaq rose 79 points, and the S&P rose 17 points. WTI Crude Oil prices, was off ever so slight at $59.52/barrel, down 0.13%
Stocks climbed slowly higher during the morning session, with the Dow up more than 235 points around noon time, and a mere 20 points, from the 29,000 point mark. Stocks pulled back only slightly in the afternoon session, but remained solidly elevated into the close, even as some pundits worry that markets may be approaching overbought territory.
Today's rally was very broad, with all eleven S&P sectors closing with gains, led by Technology, Financials, Energy, Consumer Staples, Consumer Discretionary, Utilities, Industrials, Basic Materials, and Communication Services.
Factors Influencing Today's Market
A momentary decrease tensions between the US and Iran, after Iran's missile strikes in Iraq.
Increasing optimism that the US and China will sign the phase 1 trade deal on January 15th.
WTI Crude Oil closed slightly lower today at $59.56/barrel, down 0.08%.
US 10 Year Bond Yield closed at 1.855%, down 1.01%.
Asian markets closed with nice gains, ahead of our markets opening.
European market closed higher, as UK Parliament approves Brexit, paving the way for its exit from the European Market, at the end of January.
This week's Initial Jobless Claims fell 9,000 to 214,000 claims.
Market Close Volume Traded And Advance Decline Ratio
Stock finished strong again today. At the close, the Dow climbed 211.81 points, Nasdaq gained 74.18 points, and the S&P rose 21.65 points. Total NYSE volume traded, a modest 3.62 billion shares. Advancing shares outpaced Declining shares by 1.27:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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