Friday's Market Recap - Stocks End The Week At Record Highs.
What is The Premarket Telling Us?
7:00 AM.
US stock futures are modestly higher at this hour. Dow futures are up 91 points, Nasdaq futures up 64 points,
and the S&P was up 14 points. Asian markets were mixed overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 1.07%, up 0.01%.
Currency Desk:
Eurodollar: 1.22
UK Pound: 1.35
Crude Oil:
WTI crude oil futures at $51.61/barrel, up 1.51%.
On the Earnings Calendar:
None.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets closed the day mixed. Japan (Nikkei 225) up 2.36%, Shanghai down 0.17%, Hong Kong (Hang Seng) up1.20%
Major European markets closed with modest gains. German (DAX) up 0.58%, France CAC 40 up 0.65%, London FTSE 100 up 0.22%.
Market And Sector Dynamics
Markets opened the trading day comfortably in positive territory, with the Dow up 86 points, Nasdaq up 97 points, and the S&P up 18.63 points. WTI crude oil started the day at $51.69/barrel, up 1.69%, and the US 10 Year Bond was at 1.10%.
Stocks drifted lower an hour after opening and remained slightly below the flat line for most of the morning and early afternoon session, before diving even lower, with the Dow down 245 points, shortly before 2:00 PM.
Markets turned around a short while later, to end modestly higher for the day.
Seven of the eleven S&P sectors ended the session with gains, led by Consumer Discretionary, Real Estate, Utilities, Technology, Consumer Staples, Healthcare, and Communication Services. Basic Materials, Industrials, Financials, and Energy ended the day lower.
Factors Influencing Today's Market
Markets closed the week on a strong winning streak.
US 10 Year Bond closed today at 1.119%, up 3.47%.
Asian market closed mixed while European markets closed modestly up.
WTI crude oil closed at $52.31/barrel, up 0.31%.
This week's Baker Hughes US Oil Rig Count rose 8 to 275 total.
Market Close Volume Traded And Advance Decline Ratio
When trading ended on Friday markets higher, with the Dow up 56.84 points, Nasdaq gained 134.49 points, and the S&P added 20.89 points. Total NYSE volume traded, a moderate 4.81 billion shares. Advancing shares outpaced Declining shares slightly better than even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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