Friday's Market Recap - Stocks Rally As Core Inflation Came In Tamer Than Expected.
- Mar 26, 2021
- 2 min read
What is The Premarket Telling Us?
7:20 AM.
US stock futures are higher at this hour, indicating markets will be higher at the open. Dow futures are up 118 points, Nasdaq futures mostly flat, and S&P futures up 10 points. Asain markets ended their Friday with moderate gains.
On The Bond Desk:
The US 10 Year Bond Yield at 1.674%, up 6 basis points.
Currency Desk:
Eurodollar: 1.18
UK Pound: 1.38
Crude Oil:
WTI crude oil futures at $59.76/barrel, up 2.05%.
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 with moderate gains Japan (Nikkei 225) gained 1.56%, Shanghai up 1.63%, Hong Kong (Hang Seng) up 1.57%.
Major European markets closed higher . German (DAX) up 0.87%, France CAC 40 up 0.61%, London FTSE 100 up0.99%.
Market And Sector Dynamics
Markets started off the trading session higher. The Dow gained 121 points, Nasdaq gained 19 points, and the S&P gained 14 points. WTI crude oil was off to a positive start at $60.38/barrel, up 3.11%, while the US 10 Year Bond stood at 1.658%, up 4.4 basis points.
Markets held on comfortable in positive territory for the entire trading session, even gapping higher into the close of trading to close at the high of the day. The markets were helped today by the new release of core inflation came in milder than expected, calming fears of runaway inflation. Crude oil was also a catalyst in today's session, rising today after significantly declining during the last few days..
Today's rally, ten of the eleven S&P sectors ended the session with gains, led by Energy, Technology, Basic Materials, Real Estate, Healthcare, Consumer Staples, Industrials, Financial, Consumer Discretionary, and Utilities. Communication Services was the only sector that ended the session lower.
Factors Influencing Today's Market
Core inflation came in milder than expected, helping to calm fears of inflation.
US 10 Year Bond ended the day mildly higher at 1.674%, up 2.51%.
WTI crude oil closed the day at $60.97/barrel, up 4.12%.
Baker Hughes US Oil Rig count rose 6 to 324 total.
Asian and European markets ended moderately higher in their sessions.
Market Close Volume Traded And Advance Decline Ratio
Markets soared today, with the three major indexes ending higher. The Dow rocketed 453.40 points, Nasdaq soared 161.04 points, and the S&P gained 65.02 points. Total NYSE volume traded, a moderate 5.36 billion shares. Advancing shares outpaced Declining shares by 3.04:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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