Friday's Market Recap - Stocks Ended Higher Across The Board In Today's Session.
- cashtonsaunders
- Nov 12, 2021
- 2 min read
What is The Premarket Telling Us?
Friday November 12, 2021 6:42 AM.
Stock futures were moderately elevated in the premarket. Dow futures were up 100 points, Nasdaq futures up 41 points, and S&P up 10 points. Asian markets ended higher overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 1.560%, unchanged.
Currency Desk:
Eurodollar: 1.14
UK Pound: 1.33
Crude Oil:
WTI crude oil futures at $80.03/barrel, down 1.91%.
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 their session higher. Japan (Nikkei 225) up 1.13%, Shanghai up 0.18%, Hong Kong (Hang Seng) up 0.26%.
Major European markets ended mixed on Friday. German (DAX) up 0.07%, France CAC 40 up 0.45%, London FTSE 100 down 0.49%.
Market And Sector Dynamics
Markets opened Friday's session modestly higher. The Dow gained 43 points, Nasdaq was up 49 points, and the S&P up 6 points. WTI crude oil was slightly lower at $81.36/barrel, and the US 10 Year Bond Yield held ticked slightly lower at 1.557%.
Stocks trended lower shortly after the open with the Dow up only 18 points at the midpoint of the morning session. The market quickly recovered, the Dow up 188 points around noon, and held on to that level for most of the remaining session before ticking higher just before the close, Dow up 221 points, the high of the day.
While inflation fears and supply chain problems continue to grip markets, investors have been encouraged by the strength of third quarter earnings, and pushed markets higher.
Nine of the eleven S&P sectors ended higher in the session, led by Communication Services, Technology, Industrials, Basic Materials, Consumer Discretionary, Healthcare, Financials, Real Estate, and Consumer Staples. Energy, and Utilities ended lower.
Factors Influencing Today's Market
Asian closed higher, while European markets ended mixed.
US 10 Year Bond Yield closed at 1.570%, down 0.54%.
WTI crude oil closed at $80.72/barrel, down 1.07%.
This week's Baker Hughes Oil Rig count rose 4 to 454 total.
Market Close Volume Traded And Advance Decline Ratio
When trading ended, the three major indexes closed higher, with the Dow gained 179.08 points, Nasdaq gained 156.68 points, and the S&P gained 33.58 points. Total NYSE volume traded, a light 3.77 billion shares. Advancing shares outpaced Declining shares by 1.18:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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