Friday's Market Recap - Dow, Nasdaq, And S&P, A Trifecta Of New Record Highs In Today's Session.
- cashtonsaunders
- Jul 8, 2021
- 2 min read
What is The Premarket Telling Us?
July 9, 2021 7:27 AM.
US stock futures are mostly higher. Dow futures up 217 points, Nasdaq futures down 3 points, and the S&P futures up 17 points. Asian markets finished mixed overnight.
On The Bond Desk:
The US 10 Year Bond Yield at
Currency Desk:
Eurodollar:1.18
UK Pound: 1.38
Crude Oil:
WTI crude oil futures at $73.70/barrel, up 1.04%.
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 their session mixed. Japan (Nikkei 225) down 0.63%, Shanghai down 0.04%, Hong Kong (Hang Seng) up 0.72%.
Major European markets ended their day higher. German (DAX) gained 1.73%, France CAC 40 up 2.07%, London FTSE 100 rose 1.30%
Market And Sector Dynamics
Markets opened the trading day moderately higher. The Dow soared 213 points, Nasdaq gained 31 points, and the S&P gained 21 points. WTI crude oil started the session higher as well, at $74.10/barrel, up 1.59%, and the US 10 Year ticked 5.6 basis points higher to 1.344%.
The Dow took off at the bell and remained at those lofty levels for the entire session, and closed just shy of the intraday high of 460 points. After modest gains in the morning session, the Nasdaq and S&P found their footing, and soared to new record closing highs, as did the Dow.
Today, investors shook off all of the Covid-19 Delta variant fear, and worry about falling interest rates, that dominated markets yesterday.
Today's rally saw all eleven S&P sectors ending with nice gains, led by Financials, Energy, Basic Materials, Industrials, Real Estate, Technology, Communication Services, Consumer Discretionary, Consumer Staples, Healthcare, and Utilities.
Factors Influencing Today's Market
Markets shook off yesterday's worry about falling interest rates, and fear of the spread of the Covic-19 more transmissible Delta variant.
Asian Markets ended mixed, while European stocks ended solidly higher.
US 10 Year Bond closed at 1.361%, up 5.15%.
WTI crude oil closed at $74.56/barrel, up 2.24%.
This week's Baker Hughes US Oil Rig count rose 2 to 378 total.
Market Close Volume Traded And Advance Decline Ratio
Markets closed sharply higher today. The Dow gained 448.23 points, Nasdaq gained 142.13 points, and the S&P gained 43.73 points. Total NYSE volume traded, a light 3.55 billion shares. Advancing shares outpaced Declining shares by 3.59:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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