Tuesday's Market Recap - Stocks Added Another Positive Session Thanks To Big Technology.
What is The Premarket Telling Us?
7:00 AM.
US stock futures are moderately elevated, two and an half hours before the opening bell. Dow futures up 196 points, Nasdaq futures up 101 points, and S&P futures are up 24 points.
On The Bond Desk:
The US 10 Year Bond Yield at 0.67% unchanged.
Currency Desk:
Euro dollar: 1.18
UK Pound: 1.28
Crude Oil:
WTI crude oil futures $37.92/barrel, up 1.77%.
On the Earnings Calendar:
None.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets traded mixed on Tuesday. Japan (Nikkei 225) down 0.44%, Shanghai up 0.51%, Hong Kong (Hang Seng) up 0.38%.
Major European markets also traded higher. German (DAX) rose 0.18%, France CAC 40 up 0.32%, London FTSE 100 gained 1.32%.
Market And Sector Dynamics
Trading got off to a solid start with Dow sharply higher at 190 points, Nasdaq soared 130 points, and the S&P gained 26 points. WTI crude oil was modestly higher at $37.60/barrel, up 0.89%.
Stock remained at or just below, the elevated levels for most of the trading session, before losing steam shortly before 2:00 PM, turning negative twenty minutes before the close, Dow down 56 points. Stock quickly recoup the losses to close just above the flat line.
Today's session was fairly balanced with eight of the eleven S&P sectors ending with gains, led by Communication Services, Real Estate, Consumer Discretionary, Technology, Utilities, Basic Materials, Healthcare, and Industrials. Financials, Energy, and Consumer Staples traded lower today.
Factors Influencing Today's Market
August Import Export Prices rose 0.9% vs 0.50% estimates.
Apple held its virtual product release event today showing off a new Apple Watch, and Ipad.
Asian and European markets were higher in their sessions.
US 10 Year Bond Yield closed at 0.680%, up 0.73%.
WTI crude oil closed at $38.52/barrel, up 3.38%.
Market Close Volume Traded And Advance Decline Ratio
Markets ended in positive today, the Dow eked out a slight gain, up 2.27 points, Nasdaq soared 133.67 points, and the S&P added 17.66 points. Total NYSE volume traded, a moderate 4.09 billion shares. Advancing shares outpaced Declining shares by 1.21:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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