Friday's Market Recap - Rising Covid-19 Cases Causes New Lockdown In Austria And Parts Of Germany.
- cashtonsaunders
- Nov 19, 2021
- 2 min read
What is The Premarket Telling Us?
Friday November 19 2021 7:00 AM.
US stock futures were moderately mixed early two and a half hours ahead of the start of trading. Dow futures were down 208 points, Nasdaq futures up 50 points, and the S&P down 13 points. Asian markets closed mixed ahead of the trading here in the US.
On The Bond Desk:
The US 10 Year Bond Yield at 1.589%, down 0.15%.
Currency Desk:
Eurodollar: 1.12
UK Pound: 1.34
Crude Oil:
WTI crude oil futures at $78.32/barrel, up 1.08%.
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 mixed today. Japan (Nikkei 225) up 0.50%, Shanghai up 1.13%, Hong Kong (Hang Seng) down 1.07%
Major European markets ended with losses on Friday. German (DAX) down 0.38%, France CAC 40 down 0.42%, London FTSE 100 up 0.45%.
Market And Sector Dynamics
When the markets opened on Friday, the Dow was down 215 points, Nasdaq was up 40 points, and the S&P fell 6 points. Crude oil declined 1.91% to $77.50/barrel, and the US 10 Year Bond Yield was unchanged 1.604%.
Concerns about recent lockdown in Europe, specifically, Austria, and parts of Germany pressured markets on Friday, sending lockdown friendly stock such as Amazon, Apple, Netflix and Zoom soaring higher. European markets sold off in their session because of this news. Shares of Airlines, and cruise lines, that are considered reopening stocks lost ground today as well.
The Dow traded in the red for the entire trading session, ended at or near the low of the day.
In a mostly negative session, eight of the eleven S&P sectors ended with losses, led by Energy, Financials, Healthcare, Real Estate, Industrials, Communication Services, Consumer Staples, and Basic Materials. Technology, Utilities, and Consumer Discretionary, ended with gains.
Factors Influencing Today's Market
Total Covid-19 lockdown in Austria, and parts of Germany casted fear over markets today.
US 10 Year Bond Yield closed at 1.548%, down 2.48%.
WTI crude oil closed at $76.10/barrel, down 3.68%.
This week's Baker Hughes Oil Rig count rose 4 rigs to 461 total.
Asian markets closed mixed, while European market ended lower.
Market Close Volume Traded And Advance Decline Ratio
Today the Dow ended lower in a mixed trading session. The Dow lost 268.97 points, Nasdaq gained 63.73 points, and the S&P fell 6.58 points. Total NYSE volume traded, a modest 4.83 billion shares. Declining shares outpaced Advancing shares by 1.88:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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