Thursday's Market Recap - Technology And Communication Services Soared Today.
What is The Premarket Telling Us?
7:00 AM.
US stock futures are modestly negative at this hour. Dow futures down 80 points, Nasdaq futures down 31 points, and the S&P futures down 10 points. Asian markets traded lower overnight. Investors are anticipating the release of the initial jobless claims later this morning.
On The Bond Desk:
The US 10 Year Bond Yield at 0.54%, up 0.02%.
Currency Desk:
Euro dollar: 1.18
UK Pound: 1.31
Crude Oil:
WTI crude oil futures at $41.80/barrel, down 0.92%.
On the Earnings Calendar:
Uber report earnings after the close of trading this evening.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets were mostly lower. Japan (Nikkei 225) down 0.43%, Shanghai up 0.26%, Hong Kong (Hang Seng) down 0.69%.
Major European markets traded lower in their session. German (DAX) down 0.54%, France CAC 40 down 0.98%, London FTSE 100 down 1.27%.
Market And Sector Dynamics
Markets opened mostly flat to begin the trading day. The Dow rose 5.56 points, Nasdaq down 9.85 points, S&P down 3 points. WTI crude oil closed at $42.49/barrel, up 0.71%, and the US 10 Year sits at 0.520%, down 2.3%.
After a choppy morning session in and out of negative territory, the market gained its footing in the early afternoon and surged higher into the close. For now it appears the the markets are focused on additional pandemic stimulus negotiations taking place in Washington, as the administration and congress continue their talks.
Seven of the eleven S&P sectors closed with gains in today's session, led by Communication Services, Technology, Utilities, Consumer Discretionary, Industrials, Real Estate, and Consumer Staples.
Factors Influencing Today's Market
Stimulus optimism continues to drive markets higher.
This week's Jobless Claim report another 1.186 million new claims for unemployment benefits.
Asian and European markets closed mostly lower in the session.
US 10 Year Bond Yield closed today at 0.5328%, down 2.09%.
WTI crude oil closed at $42.08/barrel, down 0.26%.
Market Close Volume Traded And Advance Decline Ratio
At the end of trading the three major indexes were higher. The Dow gained 185.46 points, Nasdaq gained 109.67 points, and S&P gained 21.39 points. Total NYSE volume traded, a moderate 4.19 billion shares. Advancing shares and Declining shares were mostly even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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