Monday's Market Recap - Nasdaq And S&P At Record Highs In Today's Rally.
What is The Premarket Telling Us?
7:00 AM.
Stock futures are comfortably higher early in the premarket. Dow futures are up 112 point, Nasdaq up 45 points, and S&P up 12 points. Asian markets were solidly higher overnight. The annual JPMorgan Healthcare Conference, in San Francisco today, where many healthcare and biotech firms could make important, market moving announcements.
On The Bond Desk:
The US 10 Year Bond Yield at 1.82%, down 0.04% or four basis points.
Currency Desk:
Euro dollar: 1.11
UK Pound: 1.29
Crude Oil:
WTI crude oil futures at $58.96/barrel, down 0.14%.
On the Earnings Calendar:
None
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets closed with gains. Japan (Nikkei 225) gained 0.47%, Shanghai rose 0.75%, Hong Kong (Hang Seng) gained 1.11%.
Major European markets were mixed today. German (DAX) down 0.24%, France CAC 40 slipped 0.02%, London FTSE 100 rose 0.39%.
Market And Sector Dynamics
Stocks opened moderately higher. The Dow rose 62 points, Nasdaq rose 36 points, and the S&P rose 7 points. Markets are responding to positive trade news, as China trade representative, and his team are on the way to the Washington, to sign the US China phase deal on Wednesday. WTI Crude Oil price is trading lower, early at $58.52/barrel, down 0.83%.
Market sentiment is broadly positive, as investor push stock to new highs. Some are worried that markets may be too complacent, which could signal an imminent pullback.
The rally was broad based, with technology, communications services, leading markets higher.
Factors Influencing Today's Market
Investor are optimistic about the potential signing of the US China phase 1 deal on Wednesday.
Boeing new CEO Mr.Calhoun, begins his tenure at the helm of that company today.
Shares of TESLA have been on a tare over the last three months, and continues today.
WTI Crude Oil price traded lower today, closing at $58.08/barrel, down 1.63%.
The US 10 Year Bond Yield gained ground today, closed at 1.848%, up 1.56%.
Market Close Volume Traded And Advance Decline Ratio
At the end of today's trading session markets were moderately higher. The Dow gained 83.28 points, Nasdaq rose 95.07 points, and the S&P was up 22.78 points. Total NYSE volume traded, a modest 3.52 billion shares. Advancing shares outpaced Declining shares by 2.38:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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