Friday's Market Recap - Dow and S&P End Higher While Nasdaq Takes A Breather.
- Mar 12, 2021
- 2 min read
What is The Premarket Telling Us?
7:00 AM.
US Stock futures are mostly lower at this hour. Dow futures down 17 points, Nasdaq fell 216 points, and the S&P fell 21 points. Asian markets were mostly lower in their sessions.
On The Bond Desk:
The US 10 Year Bond Yield at 1.53%, up 0.01%.
Currency Desk:
Eurodollar: 1.19
UK Pound: 139
Crude Oil:
WTI crude oil futures at $66.66/barrel, up down 0.56%.
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 mostly higher. Japan (Nikkei 225) up 1.73%, Shanghai up 0.47%, Hong Kong (Hang Seng) down 2.20%.
Major European markets were also mixed. German (DAX) fell 0.46%, France CAC 40 up 0.21%, London FTSE 100 up 0.36%.
Market And Sector Dynamics
Markets opened mixed today, with the Dow gaining 41 points, Nasdaq down 177 points, and the S&P down 17 points. WTI opened at 65.96/barrel, down 0.06 basis points, and the US 10 Year held at 1.541%.
The Dow climbed convincingly higher after the open, and gradually gained momentum as the session progressed, to close at the high of the day. Shares of Boeing and big banks were the outperformers in today's trading. The tech-heavy Nasdaq struggled to hold on in positive territory today, as the US 10 Year Bond ticked higher in the session and held back technology stocks.
Nine of the eleven S&P sectors rallied in today's session, led by Real Estate, Industrials, Utilities, Financials, Consumer Staples, Basic Materials, Energy, Healthcare, and Consumer Discretionary. Communication Services and Technology were lower.
Factors Influencing Today's Market
US 10 Year Bond ticked higher today to close at 1.625%, up 5.83%, sending growth stocks lower.
Boeing was a major contributor to the Dow today.
Asian and European markets were mostly higher in their sessions.
WTI crude oil closed at $65.61/barrel, down 0.62%.
This week's Baker Hughes US Oil Rig count fell 1 rig to 309 total.
Preliminary Consumer Sentiment came in at 83% vs 78.5% estimated.
Final Demand PPI for February came in at 0.50% vs 0.04% expected.
Market Close Volume Traded And Advance Decline Ratio
Markets ended mixed on Friday. The Dow gained 293.05 points, Nasdaq lost 78.81 points, and the S&P added 4 points. Total NYSE volume traded, a moderate 4.52 billion shares. Advancing shares outpaced Declining shares by 1.30:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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