Friday's Market Recap - The Dow Took A Breather Today While S&P & Nasdaq Had Modest Gai
What is The Premarket Telling Us?
7:00 AM.
Stock futures are modestly higher. Dow futures up 32 points, Nasdaq futures up 25 points, and S&P futures up 6 points. Asian markets closed mixed overnight. China recorded more cases of the coronavirus, which continues to weigh on markets.
On The Bond Desk:
The US 10 Year Bond Yield at 1.62%, down 0.01%.
Currency Desk:
Euro dollar: 1.08
UK Pound: 1.30
Crude Oil:
WTI crude oil futures at $52.16/barrel, up 1.44%.
On the Earnings Calendar:
None.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets were mixed. Japan (Nikkei 225) fell 0.59%, Shanghai up 0.38%, Hong Kong (Hang Seng) up 0.31%
Major European markets mostly lower. German (DAX) down 0.01%, France CAC 40 lost 0.39%, London FTSE 100 fell .058%.
Market And Sector Dynamics
Stocks opened flat to mixed, with the Dow down 20 points, Nasdaq rose 16 points, and the S&P was up 2 points. The Dow slid even lower after the open, and remained in negative territory for the entire trading session.
Today's mild selloff was fairly broad based. Eight of the eleven S&P sectors closed with gains, led by Real Estate, Utilities, Technology, Consumer Staples, Healthcare, and Financials. Energy and Consumer Discretionary were the main laggards today.
Factors Influencing Today's Market
Increasing number of coronavirus cases in China.
Asian markets closed mostly higher.
WTI Crude Oil closed at $52.05/barrel, up 1.23%.
This week's Baker Hughes US Oil Rig count rose 2 rigs to 678.
US 10 Year Bond Yield closed at 1.588%, at down 1.91%.
Market Close Volume Traded and Advance Decline Ratio
When trading ended markets were mixed. The Dow lost 25.23 points, Nasdaq gained 19.21 points, and the S&P gained 6.22 points. Total NYSE volume traded, a light 3.45 billion shares. Advancing and Declining shares were mostly even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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