Friday's Market Recap - Dow Gains, Nasdaq And S&P Finish Lower On Earnings Miss From Snap & Intel.
- cashtonsaunders
- Oct 22, 2021
- 2 min read
What is The Premarket Telling Us?
Stock futures were modestly mixed in the premarket. Dow futures up 59 points, Nasdaq futures down 26 points, and S&P futures up 5 points. Asian markets were also mixed overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 1.675%, down 0.001%.
Currency Desk:
Eurodollar: 1.16
UK Pound: 1.37
Crude Oil:
WTI crude oil futures at $83.19/barrel, up 0.84%.
On the Earnings Calendar:
Social media company, Snap, and and Intel reported disappointing third quarter earning result, after the closing bell yesterday.
In M&A News:
None to report
What About The Asian And European Markets?
Asian markets ended mixed. Japan (Nikkei 225) up 0.34%, Shanghai down 0.34%, Hong Kong (Hang Seng) up 0.42%
Major European markets ended with gains today. German (DAX) up 0.46%, France CAC 40 up 0.71%, London FTSE 100 up 0.20%.
Market And Sector Dynamics
Stock were mixed at the opening bell on Friday. The Dow was up 22 points, while the Nasdaq and S&P were lower by .WTI crude oil was up about 1% to $83/barrel, and the 10 Year Bond Yield hovered at 1.67%. Investors were taking their cue this morning, from the disappointing earning results from Snap, and Intel. Both companies missed earnings expectation, sending their shares and those of other social media companies such as Facebook, Twitter, and Alphabet (Google) solidly lower. At the intraday low, just before noon, the Dow was down 65 points, but recovered moments later, held held on in positive territory for the rest of the session, to finish modestly higher, and positive for the week.
Seven of the eleven S&P sectors ended in positive territory in the session, led by Financials, Energy, Consumer Staples, Real Estate, Utilities, Healthcare, and Industrials. Communication Services, Consumer Discretionary, Technology, and Basic Materials, ended the day lower.
Factors Influencing Today's Market
Disappointing quarterly earnings results from Snap, and Intel weighed negatively on markets in the session.
Asian markets finished the day mixed, while European stocks ended higher.
US 10 Year Bond Yield ended at 1.638%, down 3.43%
WTI crude oil price closed today at $83.76/barrel, up 1.53%.
This week's Baker Hughes US Oil Rig count fell 3 to 443 total.
Market Close Volume Traded And Advance Decline Ratio
Markets finished mixed today. The Dow gained 73.94 points, Nasdaq fell 125.50 points, and the S&P lost 4.88 points. Total NYSE volume traded, a light 3.81 billion shares. Advancing and Declining shares were even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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