Monday's Market Recap - Nasdaq OutPerforms Led By Tesla And Nvidia.
What is The Premarket Telling Us?
7:00 AM.
Stock futures are moderately positive at this hour. Dow futures up 57 points, Nasdaq futures up 69 points, and S&P futures up 10 points.
On The Bond Desk:
The US 10 Year Bond Yield at 0.71%, down 0.01%.
Currency Desk:
Euro dollar: 1.18
UK Pound: 1.30
Crude Oil:
WTI crude oil futures at $41.95/barrel, down 0.14%.
On the Earnings Calendar:
None.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets traded mixed. Japan (Nikkei 225) 0.83%, Shanghai up 2.34%, Hong Kong (Hang Seng) up 0.65%.
Major European markets closed with mild gains. German (DAX) gained 0.15%, France CAC 40 rose 0.18%, London FTSE 100 gained 0.61%.
Market And Sector Dynamics
Stock opened today's session mixed. The Dow slipped 5 points, Nasdaq rose 70 points, and the S&P added 11 points. WTI crude oil started the day slightly up at $42.16/barrel, up 0.36%, and the US 10 Year Bond slipped below 0.700% at 0.668%.
At the low of the day the Dow lost 110 points, before recovering, but remained in negative territory for the entire session. Technology sector outperformed today, led by shares of Tesla, semiconductor company, Nvidia, due to analyst upgrades of both.
Banks and financial shares were weak in the session after investors learned this morning that Warren Buffet, took a small position in Barrick Gold, and sold some of his JPMorgan position.
Six of the eleven S&P sectors closed the day with moderate gains, led by Consumer Discretionary, Real Estate, Technology, Healthcare, Consumer Staples, Basic Materials, and Communication Services. Financials, Energy, and Industrials, were moderately lower.
Factors Influencing Today's Market
Warren Buffet disclosed today that he has taken a $500 Million position in Barrick Gold.
Tesla and chipmaker Nvidia rallied big today on strong analyst upgrades.
US 10 Year Bond Yield closed at 0.692%, up 2.96%.
WTI crude oil closed at $42.77/barrel, up 1.11%.
Asian markets closed mixed in their session, while European markets were mildly higher.
Market Close Volume Traded And Advance Decline Ratio
At the close of trading markets were mixed. The Dow lost 86.11 points, Nasdaq gained 110.42 points, and S&P rose 9.14 points. Total NYSE volume traded, a light 3.52 billion shares. Advancing shares outpaced Declining shares slightly better than 1:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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