Friday's Market Recap - Moderate Day Of Gains For A Truncated Holiday Session.
What is The Premarket Telling Us?
8.45 AM.
Stock futures are modestly higher at this hour, and after yesterday's Thanksgiving Holiday. Dow futures are up 75 points, Nasdaq futures up 55 points, and S&P futures up 10 points. Asian markets finished with gains overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 0.86%, down 0.02%.
Currency Desk:
Eurodollar: 1.19
UK Pound: 1.33
Crude Oil:
WTI crude oil futures at $45.28/barrel, down 0.94%.
On the Earnings Calendar:
None to report.
In M&A News:
None to report.
What About The Asian And European Markets?
Major Asian markets were moderately higher in their session. Japan (Nikkei 225) up 0.40%, Shanghai up 1.14%, Hong Kong (Hang Seng) up 0.28%.
Major European markets also ended with modest gains. German (DAX) up 0.37%, France CAC 40 up 0.56%, London FTSE 100 up 0.07%.
Market And Sector Dynamics
Markets opened the shortened day of trading moderately higher. The Dow rose 65 points, Nasdaq gained 63 points, and the S&P added 10 points. WTI crude oil was lower early at $45.34/barrel, down 0.79%, and the US 10 Year Bond Yield sits at 0.857%. Fifteen minutes after the open the Dow was up 140 points, the intraday high.
Stock gradually lost momentum during most of the remaining session, eventually turning negative around 12:30 PM, with the Dow down 42 points, the low of the day. Stocks returned to positive territory into the close.
Today's trading session was mostly balanced, with six of the eleven S&P sectors ending the session with mild losses, led by Energy, Utilities, Financials, Industrials, Real Estate, and Consumer Staples. Healthcare, Communication Services, Technology, Basic Materials, and Consumer Discretionary ended moderately higher.
Factors Influencing Today's Market
Asian and European markets closed higher on Friday.
US 10 Year Bond Yield closed Friday at 0.842%, down 1.91%.
WTI crude oil closed at $45.53/barrel, up 1.22%.
This week's Baker Hughes US Oil Rig count fell 5 to 231 total.
Market Close Volume Traded And Advance Decline Ratio
When the markets closed the major indexes were modestly higher. The Dow gained 37.90 points, Nasdaq gained 111.14 points, and the S&P gained 8.70 points. Total NYSE volume traded, a 2 light.84 billion shares. Advancing shares outpaced Declining shares by 1.25:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance. Wall Street Journal - Market Diary.
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