Friday's Market Recap - Dow And S&P Rally As Nasdaq Takes A Breather.
- Jun 24, 2021
- 2 min read
What is The Premarket Telling Us?
June 25, 2021 7:30AM.
Stock futures are moderately higher, with Dow futures up 99 points, Nasdaq futures up 17 points, and S&P futures up 4 points.
On The Bond Desk:
The US 10 Year Bond Yield at 1.492%, up 0.5 basis points.
Currency Desk:
Eurodollar: 1.19
UK Pound: 1.39
Crude Oil:
WTI crude oil futures at $73.14/barrel, down 0.22%.
On the Earnings Calendar:
None to report
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets closed with gains. Japan (Nikkei 225) up 0.66%, Shanghai up 1.15%, Hong Kong (Hang Seng) up 1.40%.
Major European markets ended mixed. German (DAX) up 0.12%, France CAC 40 down 0.12%, London FTSE 100 up 0.37%.
Market And Sector Dynamics
Markets opened solidly higher, with the Dow up 178 points, Nasdaq up 26 points, and the S&P up 10 points. WTI crude oil was up slightly to $74.00/barrel, up 0.34%, and the US 10 Year Bond at 1.470%. Shares of Nike is soaring, after the company reported blowout earnings, after the bell yesterday evening. Shares of Virgin Galactic are also on the move, after getting approval from the FAA to fly individuals to space.
The Dow remained elevated for the entire session, pushing slightly higher into the close of trading.
The technology heavy Nasdaq traded moderately, in and out of positive territory for the entire session, ending just below the flat line.
Ten of the eleven S&P sectors ended higher in today's session, led by Financials, Utilities, Consumer Staples, Real Estate, Energy, Healthcare, Consumer Discretionary, Industrials, Communication Services, and Basic Materials. Technology was the only section, lower.
Factors Influencing Today's Market
Strong quarterly earnings results from Nike. The company blew out earnings and revenue expectation, and raised guidance.
FedEx also handily beat earnings and revenue expectations, but failed to impress investors.
The US 10 Year Bond Yield closed at 1.524%, up 1.69%.
WTI crude oil ended the day at $74.05/barrel, up 1.02%.
This week's Baker Hughes US oil rig count fell 1 rig to 372 total.
Market Close Volume Traded And Advance Decline Ratio
At the ended of trading, the major markets were mixed. The Dow gained 237.02 points, Nasdaq slipped 9.32 points, and the S&P gained 14.21 points. Total NYSE volume traded, a heavy 7.64 billion shares. Advancing Shares outpaced Declining shares 1.15:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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