Friday's Market Recap - Dow And S&P Closed Lower But The Nasdaq Ended Day With Gains.
- Mar 19, 2021
- 2 min read
What is The Premarket Telling Us?
8:45 AM.
US stock futures are modestly higher. Dow futures are up 31 points, Nasdaq futures up 86 points, and S&P futures rose 11 points. Major Asian markets ended in the red today.
On The Bond Desk:
The US 10 Year Bond Yield at 1.70%, down 0.03%
Currency Desk:
Eurodollar: 1.19
UK Pound: 1.39
Crude Oil:
WTI crude oil futures at $59.26/barrel, down 1.23%.
On the Earnings Calendar:
None to report
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets ended in the red. Japan (Nikkei 225) fell 1.41%, Shanghai down 1.69%, Hong Kong (Hang Seng) down 1.57%.
Major European markets also ended lower. German (DAX) down 1.05%, France CAC 40 down 1.07%, London FTSE 100 down 1.05%.
Market And Sector Dynamics
Markets opened modestly mixed, with theDow down 43 points, Nasdaq gained 27 points, and the S&P was down 1 point. WTI crude oil got off to a mildly lower start at $59.85/barrel, down 0.25%, and the US 10 Year Bond Yield sat at 1.737, up 0.8 basis points. Despite the 10 Year Bond Yield ticking higher, technology and high growth stocks saw some strength today, although it was not robust, these stock managed to hold on to positive territory in the session.
The Dow traded in negative territory for the entire trading session. The Dow was down 350 points, twenty minutes after the opening bell, part of a volatile morning session. Stocks rebounded from those lows, during the afternoon session, before falling again into the closing bell.
Six of the eleven S&P sectors closed today with mild gains, led by Communication Services, Consumer Discretionary, Healthcare, Consumer Staples, Utilities, and Energy. Real Estate, Financials, Industrials, Basic Materials, and Technology ended lower.
Factors Influencing Today's Market
Major Asian and European markets closed their sessions lower.
US 10 Year Bond Yield ticked higher at the open, and closed today at 1.730%, up 1.38%.
WTIcrude oil closed at $61.42/barrel, up 2.37%.
Baker Hughes Oil Rig count was down 1 rig to 309 total.
Market Close Volume Traded And Advance Decline Ratio
Markets ended mixed today, as the Nasdaq clawed back a fraction of yesterday's losses. The Dow lost 234.33 points, Nasdaq gained 99.07 points, and the S&P slipped 2.36 points. Total NYSE volume traded,
7.91 billion shares. Advancing shares outpaced Declining shares by 1.23:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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