Friday's Market Recap - Continued Strong Bank Earning Powered Stock Higher.
- cashtonsaunders
- Oct 15, 2021
- 2 min read
What is The Premarket Telling Us?
Friday, October 15, 2021 7:30 AM.
US stock futures were up triple digits again this morning. Dow futures up 160 points, Nasdaq futures up 52 points, and S&P futures up 17 points. Asian markets were positive in their sessions.
On The Bond Desk:
The US 10 Year Bond Yield at 1.518%, down 0.03%.
Currency Desk:
Eurodollar: 1.15
UK Pound: 1.37
Crude Oil:
WTI crude oil futures at $81.98/barrel, up 0.82%.
On the Earnings Calendar:
Goldman Sachs report strong earnings before the opening bell.
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets closed with gains overnight. Japan (Nikkei 225) up 1.81 %, Shanghai up 0.40%, Hong Kong (Hang Seng) up 1.48%
Major European markets also ended with gains today. German (DAX) up 0.81%, France CAC 40 0.63%, London FTSE 100 up 0.63%.
Market And Sector Dynamics
Stock opened the trading day solidly higher. The Dow gained 222 points, Nasdaq gained 31 points, and the S&P gained 18 points. WTI crude oil also started the day positive at $82.28/barrel, up 1.19%, and the US 10 Year Bond Yield hovered at 1.569% up 5 basis points. Strong quarterly earnings form Goldman Sachs helped to push markets higher, as the company handily beat earnings, revenue, and other metrics. Investor loved what they heard from the major banks this week, and were voting with their money.
Stock jumped higher after the opening bell, and held on to those gains, ticking higher around 2:00 PM, to close at the high of the day.
The Delta variant, and supply chain problems seems to be improving, but not before knocking down October's Consumer Sentiment to the lowers level in ten year.
In today's broad based rally, eight of the ten S&P futures ended the session with gains, led by Consumer Discretionary, Financials, Industrials, Technology, Healthcare, Energy, Basic Materials, and Real Estate. Utilities, Consumer Staples, and Communication Services were modestly lower.
Factors Influencing Today's Market
Strong quarterly earnings from Goldman Sachs, continuing the stellar bank earnings season
US 10 Year Bond Yield closed at 1.574%, up 3.81%.
WTI crude oil price ended the day at $82.28/barrel, up 1.19%.
Asian and European markets ended the day with gains.
October Consumer Sentiment came in a surprising less than expected 71.4 vs 72.8 in September. lowest in a decade)
Market Close Volume Traded And Advance Decline Ratio
Stock rallied again today, with the Dow up 382.20 points, Nasdaq gained 73.91 points, and S&P added 33.11 points. Total NYSE volume traded, a light 3.86 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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