Friday's Market Recap - Stocks Rally Big After Russia Invades Ukraine.
- cashtonsaunders
- Feb 25, 2022
- 2 min read
What is The Premarket Telling Us?
Friday, February 25, 2022, 7:30 AM.
Following Thursday's surprising face-ripping intraday rally, US Stock futures were mostly lower in the premarket. Dow futures down 119 points, Nasdaq futures down 18 points, and S&P futures down 13 points. In the early morning yesterday, Russia began its invasion of Ukraine with attacks from land, sea, and air. While this was wildly expected over the last few months, markets nonetheless sold off heavily in the morning, before it rebounded intraday to held solidly higher.
On The Bond Desk:
The US 10 Year Bond Yield sits at 1.995%, up 2.3 basis points.
Currency Desk:
Eurodollar: 1.12
UK Pound: 1.33
Crude Oil:
WTI crude oil futures at $93.30/barrel, down 0.49%.
On the Earnings Calendar:
Etsy reported strong quarterly earnings results today.
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets ended mixed Japan (Nikkei 225) up 1.95%, Shanghai up 0.63%, Hong Kong (Hang Seng) down 0.49%.
Major European markets closed solidly higher. German (DAX) up 3.67%, France CAC 40 up 3.55%, London FTSE 100 up 3.91%.
Market And Sector Dynamics
Futures turned around in the premarket after a report from China that Russia was open to talks with Ukraine, even as the invasion is continuing. In response to that news, markets opened mostly higher, with the Dow up 174 points, Nasdaq down 10 points, and S&P was up 12 points. WTI crude oil which had been up big intraday yesterday was off 0.84%, at $92.03/barrel. The US 10 Year Bond was up 0.9 basis points to 1.981%.
Market tone was decidedly positive for the entire session, with investors appearing to have shaken off the shock of Russia's invasion of Ukraine.
Stocks were definitely in risk-on mode again today. As the fighting continued, the US and other western countries have been adding stiffer sanctions on Russia, including personal sanctions on Putin, and Foreign Minister, Lazarov. Removing Russia from the SWIFT money transfer system was also actively being considered.
Today's rally was broad-based with all eleven S&P sectors ending with solid gains, led by, Basic Materials, Financials, Utilities, Consumer Staples, Healthcare, Energy, Real Estate, Industrials, Consumer Discretionary, Communication Services, and Technology.
Factors Influencing Today's Market
Markets rally strongly after the initial shock of the Russian invasion of Ukraine.
Asian markets closed mixed, but European markets ended solidly higher.
US 10 Year Bond Yield ended Friday at 1.970%, unchanged.
WTI crude oil price closed at $91.59/barrel, down 1.31%.
This week's Baker Hughes US oil rig count rose 2 to 522 total
Market Close Volume Traded And Advance Decline Ratio
Stocks rallied for a third straight day to end the trading week. The Dow soared 834.92 points, Nasdaq gained 221.04 points, and S&P gained 95.95 points. Total NYSE volume traded, a modest 5.21 billion shares. Advancing shares outpaced Declining shares by 4.68:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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