Friday's Market Recap - Stocks Ended With Moderate Gains In Today's Session.
What is The Premarket Telling Us?
9:15 AM.
US stock futures are moderately higher, with the Dow up 96 points, Nasdaq futures rose 49 points, and S&P futures up 17 points. Asian markets were modestly higher overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 0.68%, unchanged.
Currency Desk:
Euro dollar: 1.18
UK Pound: 1.28
Crude Oil:
WTI crude oil futures $37.06/barrel, down 0.67%.
On the Earnings Calendar:
None.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets ended with gains. Japan (Nikkei 225) gained 0.74%, Shanghai up 0.79%, Hong Kong (Hang Seng) gained 0.78%.
Major European markets ended mixed. German (DAX) down 0.05%, France CAC 40 up 0.20%, London FTSE 100 up 0.48%.
Market And Sector Dynamics
Markets opened decidedly higher. The Dow surged 122 points, Nasdaq soared 100 points, and the S&P rose 23 points. WTI crude oil is off to a lower start, at $37.12/barrel, down 0.42%, and the US 10 Year is holding at 0676%.
Stock remained elevated for during morning trading with the Dow up 275 points, the high of the day, shortly after 11:00 AM. Stocks began to retreat shortly after 12:00 Noon, with the Dow down 60 points. Fortunately market rebounded in the final two hours of trading to end in positive territory but well off the morning high.
Once again technology stocks led the selloff. Trading was fairly balanced today, with seven of the eleven S&P sectors ended the day with gains led by, Industrials, Basic Materials, Financials, Consumer Staples, Healthcare, Utilities, and Energy. Technology, Consumer Discretionary, Communication Services, and Real Estate, ended modestly lower.
Factors Influencing Today's Market
After a strong start shares of technology companies faded weakening market momentum.
August CPI rose 0.4% vs 0.3% estimated.
US 10 Year Bond closed at 0.669%, down 1.92%.
WTI crude oil prices closed at $37.33/barrel, up a modest 0.08%.
This week's Baker Hughes US Oil Rig Count fell 1 rig to 180 total.
Both Asian and European market were modestly higher in their sessions.
Market Close Volume Traded And Advance Decline Ratio
Markets ended mixed in today's session. The Dow gained 131.06 points, Nasdaq lost 66.05 points, and the S&P added 1.78 points. Total NYSE volume traded, a light 3.74 billion shares. Declining shares outpace Advancing shares just slightly.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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