Monday's Market Recap - A Mixed Session Led By Apple, Tesla, And A Decline In Energy.
What is The Premarket Telling Us?
7:00 AM.
It's the first trading day of the week, and the last day of August, and US stock futures are modestly in positive territory. Dow futures up 39 points, Nasdaq futures up 57 points, and S&P is up 9 points. Asia closed mixed in their sessions. Today, both Apple, and Tesla begin trading on a split basis.
On The Bond Desk:
The US 10 Year Bond Yield at 0.73%, down 0.02%.
Currency Desk:
Euro dollar: 1.19
UK Pound: 1.33
Crude Oil:
WTI crude oil futures at $43.49/barrel, up 1.21%.
On the Earnings Calendar:
Zoom reports earnings results after the closing bell today.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets closed mixed. Japan (Nikkei 225) gained 1.12%, Shanghai fell 0.96%, Hong Kong (Hang Seng) down 0.24%.
Major Europeaan markets were decidedly lower today. German (DAX) fell 0.67%, France CAC 40 lost 1.11%, London FTSE 100 fell 0.61%.
Market And Sector Dynamics
Stocks opened the day mixed. The Dow fell 100 points, Nasdaq rose 5 points, and the S&P lost 3 points. WTI crude oil up slightly, at $43.43, up 0.32%, and the US 10 Year Bond hovered at 0.729%.
Shares of Apple and Tesla began trading on its split basis this morning, and investors are continuing to gobble up shares, pushing their prices further into the stratosphere.
The market traded in negative territory for the entire session, falling to the intraday low, down 290 points, half an hour before midday, but reclaimed some of those losses, holding that level into the close.
Seven of the eleven S&P sectors were lower in today's selloff. Energy, Basic Materials, Financials, Industrials, Real Estate, Communication Services, and Consumer Staples were lower. Technology, Healthcare, Utilities, and Consumer Discretionary were modest higher.
Factors Influencing Today's Market
Apple and Tesla traded solidly higher today, the first trading day on a split basis.
Salesforce, Amgen and Honeywell, replaced Exxon, and Pfizer in the Dow Jones Industrial Average today.
Asian and European markets were mostly lower in their session.
US 10 Year Bond Yield closed at 0.706%, down 2.48%.
WTI crude oil closed at $42.91/barrel, down 0.28%.
Market Close Volume Traded And Advance Decline Ratio
When the market close today, the Dow lost 223.82 points, Nasdaq gained 79.82 points, and the S&P lost 7.70 points. Total NYSE volume traded, a moderate 4.40 billion shares. Declining shares outpaced Advancing shares by 2.34:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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