Thursday's Market Recap - Slide In Energy Prices, And Fear Of Coronavirus Worry Investors.
What is The Premarket Telling Us?
US stock futures are mostly flat. Dow futures down 23 points, Nasdaq futures up 6 points, and the S&P futures down 0.25, a fraction. Asian markets are down in their session.
On The Bond Desk:
The US 10 Year Bond Yield at 1.77%, unchanged.
Currency Desk:
Euro dollar: 1.10
UK Pound: 1.31
Crude Oil:
WTI crude oil futures at $55.80/barrel, 1.66%.
On the Earnings Calendar:
Comcast beats Q4 Earnings expectations.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets. Japan (Nikkei 225) down 0.96%, Shanghai down 2.75%, Hong Kong (Hang Seng) down 1.73%.
Major European markets. German (DAX) up 1.49%, France CAC 40 up 0.98%, London FTSE 100 up 1.15%.
Market And Sector Dynamics
Stock opened the trading session down 113 points, Nasdaq lost 11 points, the S&P fell 9 points. Stock are under pressure from the developing story of the coronavirus in China, and sliding energy prices. WTI Crude Oil price started the session weak at $55.20/barrel, down 2.75% in the early going. Shares of Comcast, traded lower, despite its strong earnings performance, so did shares of Boeing, as the 737 Max problems continue.
After a yo-yo type trading session in the morning, stocks turned around early in the afternoon session, and slowly gained momentum into the close, but failed to get about the flat line.
At the low of the session the Dow was down around 210 points. Market breath was fairly balanced, with six of the eleven S&P sectors closing with modest losses, led by Healthcare, Energy, Communication Services, Consumer Staples, Basic Materials, and Consumer Discretionary.
Industrials, Real Estate, Utilities, and Technology were moderately higher.
Factors Influencing Today's Market
Investors are cautious as the coronavirus outbreak in China develops.
Strong Q4 Earning performance from Comcast.
US 10 Year Bond Yield ticked lower to close at 1.731%, down 2.15%.
WTI Crude Oil price closed at $55.59/barrel, down 2.03%.
This week's Initial Jobless Claims rose 6,000 claims to 211,000.
The week's EIA Petroleum Status Report show crude oil inventories fell 0.4 million barrels
Market Close Volume Traded And Advance Decline Ratio
Stocks ended mixed on Thursday. The Dow lost 26.18 points, Nasdaq rose 18.71 points, and the S&P gained 3.79 points. Total NYSE volume traded, a modest 3.96 billion shares. Advancing shares and Declining shares were basically even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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