Friday's Market Recap - A Mixed Trading Session To End A Week Of Gains.
What is The Premarket Telling Us?
7:45 AM.
Stock futures are mixed at this hour. Dow futures down 68 points, Nasdaq up 35 points, and S&P futures up 2 points. Asian markets closed mixed in their Friday session.
On The Bond Desk:
The US 10 Year Bond Yield at 0.72%, up 0.05%.
Currency Desk:
Euro dollar: 1.18
UK Pound: 1.30
Crude Oil:
WTI crude oil futures at $42.24/barrel, unchanged.
On the Earnings Calendar:
None.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets ended mixed. Japan (Nikkei 225) up 0.17%, Shanghai up 1.19%, Hong Kong (Hang Seng) down 0.19%.
Major European markets closed lower. German (DAX) down 0.71%, France CAC 40 down 1.58%, London FTSE 100 fell 1.55%.
Market And Sector Dynamics
Markets opened the day mostly lower, with the Dow down 95 points, Nasdaq up 2 points, and the S&P down 7 points. WTI crude oil down slightly at $42.10/barrel, down 0.33%, and the US 10 Year is at 0.703%, down 1.3 basis points. The Dow hit the low of the day shortly before 10 AM, when the index was down near 130 points, but turned around a moment later, and gradually climbed back into positive territory.
Markets remained higher in the early after, the Dow up 60 points, and even gaped higher, with the Dow up 80 points at the midpoint of the afternoon session. Stocks again fell into negative territory in the last half hour of trading, but rapidly recovered to end the day modestly higher.
Trading was mostly balance today. Six of the eleven S&P sectors closed the session with modest losses, led by Utilities, Healthcare, Technology, Communication Services, Consumer Discretionary, Consumer Staples. Energy, Industrials, Financials, Basic Materials, and Real Estate were modestly positive in the session.
Factors Influencing Today's Market
July Retail Sales rose a less than expected 1.2% vs 1.9% estimate, after increasing 8.4% in June,
Asian markets were mostly higher in their sessions. European market ended lower.
US 10 Year Bond Yield closed today at 0.709%, down 1.13%.
WTI crude oil closed at $42.01/barrel down 0.54%
This week's Baker Hughes Oil Rig count fell 4 to 172 total rigs.
Market Close Volume Traded And Advance Decline Ratio
Stocks were mildly mixed in today's session. The Dow rose 34.30 points, Nasdaq fell 23.20 points, and S&P fell a fraction 0.58 of a point. Total NYSE volume traded, a light 3.24 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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