Tuesday's Market Recap - Stocks Shakes Off Pandemic And Protest And Surges Higher.
What is The Premarket Telling Us?
7:00 AM.
Stock futures are moderately elevated this morning. Dow futures up 171 points, Nasdaq up 86 points, and S&P up 66 points.
On The Bond Desk:
The US 10 Year Bond Yield at 0.66%, unchanged.
Currency Desk:
Euro dollar: 1.11
UK Pound: 1.24
Crude Oil:
WTI crude oil futures at $36.38/barrel, up 2.65%.
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) up 1.19%, Shanghai up 0.20%, Hong Kong (Hang Seng) up 1.11%.
Major European markets stocks ended solidly higher. German (DAX) gained 3.75%, France CAC 40 up 2.02%, London FTSE 100 up 0.87%.
Market And Sector Dynamics
As optimism about the reopening of the US and global economies continues to buoy the local and international markets, investor are gaining confidence by the day. Stock markets opened triple digits higher, the Dow gained 144 points, Nasdaq rose 13 points, and the S&P added 10 points.
Crude oil is off to a positive start, currently at $35.88/barrel, up 1.33%. WTI crude oil was up 0.672%.
At the high of the morning, the Dow was up 237 points, before pulling back slightly just before noon, but held on to those levels for the rest of the session before pushing even higher just before the close of trading.
Today's rally was broad based and positive, with all eleven S&P sectors closed in positive territory, closed with gains, led by Energy, Basic Materials, Industrials, Technology, Financials, Real Estate, Healthcare, Utilities, Communication Services, and Consumer Staples.
Factors Influencing Today's Market
Reopening optimism was the major force moving markets today.
WTI crude oil closed today at $37.21/barrel, up 4.99%.
US 10 Year Bond Yield closed at 0.667%, up 4.05%.
Asian and European markets closed with solid gains.
Market Close Volume Traded And Advance Decline Ratio
Stocks recorded a solid day of gains. At the close of trading the Dow gained 267.63 points, Nasdaq up 56.33 points, and the S&P up 25.09 points. Total NYSE volume traded, a moderate 5.26 billion shares. Advancing shares outpaced Declining shares nearly 3:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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