Friday's Market Recap - Stocks End Sharply Up For The Day, But Negative For The Week.
What is The Premarket Telling Us?
7:00 AM.
Stock futures are moderately lower, as the trading day takes shape. Dow futures are down 139 points, Nasdaq futures down 50 points, and S&P futures down 16 points. Asian markets were mixed in their sessions.
On The Bond Desk:
The US 10 Year Bond Yield at 0.67%, down 0.01%.
Currency Desk:
Euro Dollar:1.16
UK Pound:1.27
Crude Oil:
WTI crude oil futures off to a slightly lower start at $40.21/barrel, down 0.25%.
On the Earnings Calendar:
None.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets ended mixed today Japan (Nikkei 225) up 0.51%, Shanghai down 0.12%, Hong Kong (Hang Seng) lost 0.32%.
Major European markets also ended mixed. German (DAX) down 1.09%, France CAC 40 down down 0.69%, London FTSE 100 down up 0.34%.
Market And Sector Dynamics
Stocks opened today's trading day mixed. The Dow fell 75 points, Nasdaq rose 22 points, and the S&P lost 8 points. WTI crude oil was lower early, at $39.93/barrel, down0.91%, while the US 10 Year Bond held at 0.658%.
Technology and Consumer Discretionary are leading the markets lower. The Nasdaq, which opened mildly higher turned lower five minutes into trading. Markets remained subdued for most of the morning session, but the indexes turned higher shortly after noon-time and continued to gain momentum for the rest of the session.
Today's rally was broad-based, with ten of the eleven S&P sectors ending the day with moderate gains, led by Technology, Real Estate, Healthcare, Utilities, Consumer Discretionary, Industrials, Communication Services, Financials, Basic Materials, and Consumer Staples.
Factors Influencing Today's Market
Investors assumed a risk-on posture in today's session.
US 10 Year Bond Yield ended the day at 0.656%, down 1.71%.
WTI crude oil closed at $40.25/barrel, down 0.17%.
This week's Baker Hughes US Oil Rig count was up 4 to 183 total.
Market Close Volume Traded And Advance Decline Ratio
When the markets closed today, the major indexes were nicely higher. The Dow soared 358.52 points, Nasdaq gained 241.29 points, and the S&P gained 51.87 points. Total NYSE volume traded, a modest 3.83 billion shares. Advancing shares outpaced Declining shares by 2.54:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance, Econoday.
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