Friday's Market Recap - Stock Closed Flat As Market Waits For New Upside Catalyst.
- Feb 19, 2021
- 2 min read
What is The Premarket Telling Us?
7:15 AM.
Stock futures are modestly in the green at this hour. Dow futures up 47 points, Nasdaq futures up 55 points, and S&P futures up 10 points. Asian market ended mixed overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 1.29%, down 0.01%.
Currency Desk:
Eurodollar: 1.20
UK Pound: 1.39
Crude Oil:
WTI crude oil futures $59.25/barrel, down 2.10%.
On the Earnings Calendar:
Walmart reported 4th quarter earning results. The company missed earnings, but revenues were much better than expected.
In M&A News:
None to report.
What About The Asian And European Markets?
Major Asian markets ended mixed. Japan (Nikkei 225) down 0.72%, Shanghai up 0.57%, Hong Kong (Hang Seng) up 0.16%
Major European markets modestly higher. German (DAX) up 0.77%, France CAC 40 up 0.79%, London FTSE 100 up 0.10%
Market And Sector Dynamics
Markets opened moderately higher with the Dow up 40 points, Nasdaq up 71 points, and the S&P gained 12 points. WTI crude oil was lower at the open at $60.08/barrel, down 0.78%, and the US 10 Year Bond Yield at 1.326%.
Markets gradually gained additional momentum during the morning session, with the Dow up near 160 points, a few minutes before noontime. Stocks pulled back during the afternoon session, to close just fractionally above the flat line.
Six of the eleven S&P sectors ended with losses today, led by Utilities, Consumer Staples, Healthcare, Communication Services, Consumer Discretionary, and Technology. Basic Materials, Energy, Industrials, Financials, and Real Estate were higher.
Factors Influencing Today's Market
Asian markets ended mixed in their session.
US 10 Year Bond Yield closed at 1.297%, up 1.19%.
WTI crude oil ended today at $60.52/barrel, down 1.01%.
Baker Hughes US Oil Rig count fell 1 rig to 305 total.
Market Close Volume Traded And Advance Decline Ratio
At the closed of trading today the markets ended mostly flat. The Dow added 0.98 point, Nasdaq gained 9.11 points, and the S&P fell 7.26 points. Total NYSE volume traded, a moderate 4.91 billion shares. Advancing shares outpaced Declining shares by 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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