Friday's Market Recap - Stocks Rallied To End The Day And Week In Positive Territory.
- cashtonsaunders
- Jan 28, 2022
- 2 min read
What is The Premarket Telling Us?
Friday, January 28, 7:31 AM.
US stock futures were lower early in the premarket, suggesting the recent volatility in the markets will continue. Dow futures were down 308 points, Nasdaq futures down 59 points, and S&P futures down 33 points.
On The Bond Desk:
The US 10 Year Bond Yield at 1.807%, down 0.041%.
Currency Desk:
Eurodollar:1.11
UK Pound: 1.33
Crude Oil:
WTI crude oil futures at $87.24/barrel, up 0.73%.
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 in their session. Japan (Nikkei 225) up 2.09%, Shanghai down0.97%, Hong Kong (Hang Seng) down 1.08%.
Major European markets closed modestly higher. German (DAX) down 1.32%, France CAC 40 down 0.82%, London FTSE 100 down 1.17%.
Market And Sector Dynamics
Markets opened modestly in positive territory this morning. The Dow gained 21 points, Nasdaq gained 57 points, and the S&P rose 10 points. WTI crude oil also opened higher at $88.30 points, and the US 10 Year Bond Yield hovered at 1.827%, up 1.7 basis points.
January volatility has continued, with stocks trading in and out of positive territory today, but rallied convincingly higher into the close of trading.
When trading ended, ten of eleven S&P sectors closed with gains, led by Technology, Real Estate, Communication Services, Consumer Discretionary, Healthcare, Financials, Utilities, Consumer Staples, Industrial, and Basic Materials. Energy was lower in the session.
Factors Influencing Today's Market
Market volatility continued in today's session as investors sought to determine if the market has bottomed.
US 10 Year Bond Yield closed at 1.778%, down 1.36%.
WTI crude oil closed today at $87.31/barrel, up 0.81%.
Last week's Baker Hughes US Oil Rig count rose 4 to 495 total.
Final read on January Consumer Sentiment came in a lower than expected 67.2 vs 68.6 consensus estimates.
Market Close Volume Traded And Advance Decline Ratio
US stocks rallied higher in a volatile session in today's trading. The Dow gained 564.69 points, Nasdaq gained 417.79 points, and S&P gained 105.34 points. Total NYSE volume traded, a modest 5.02 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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