Friday's Market Recap - The Dow Nasdaq & S&P Soared Higher In The Session.
- May 6, 2021
- 2 min read
What is The Premarket Telling Us?
Friday May 7, 2021 at 7:15 AM.
US stock futures are nicely higher at this hour, suggesting stock will have a positive open. Dow futures are up 92 points, Nasdaq futures up 36 points, and S&P futures up 10 points. Asian markets ended mixed.
On The Bond Desk:
The US 10 Year Bond Yield at 1.572%, 1.1%
Currency Desk:
Eurodollar: 1.20
UK Pound: 1.38
Crude Oil:
WTI crude oil futures at $64.74/barrel, up 0.05%.
On the Earnings Calendar:
Dropbox, Roku, and Square all reported strong earning earnings after the close of trading yesterday. Shares of these companies are all higher this morning.
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets ended mixed. Japan (Nikkei 225) up 0.08%, Shanghai down 0.65%, Hong Kong (Hang Seng) down 0.09%.
Major European markets closed higher in their sessions. German (DAX) rose 1.34%, France CAC 40 up 0.45%, London FTSE 100 up 0.76%.
Market And Sector Dynamics
Market got off to a mixed opening, with the Dow down 70 points, Nasdaq gained 67 points and the S&P up a fraction 0.68 point. WTI crude oil started the day slight lower at $64.35/barrel, down 0.56%, while the US 10 Year Treasury yield closed at 1.545%, down 1.4 basis points.
Stocks rebounded after a weak open and soared higher, up 175 points, and held on at that level for most of the session before soaring even higher into the close of trading.
All eleven S&P sectors ended the session with gains, led by Energy, Real Estate, Industrials, Basic Materials, Consumer Discretionary, Technology, Healthcare, Communication Services, Financials, and Utilities.
Factors Influencing Today's Market
April's Employment Situation Report shows the economy created 266K new jobs, much weaker than the 998K jobs that were expected.
Asian markets ended mixed in their sessions, while European market closed higher.
US 10 Year Bond Yield closed today at 1.579%, up 0.59%.
WTI crude oil prices closed today at $64.90/barrel, up 0.29%.
This week's Baker Hughes US Oil rig count rose 2 rigs to 344 total.
Market Close Volume Traded And Advance Decline Ratio
At the end of trading the indexes were solidly higher. The Dow gained 229.23 points, Nasdaq gained 119.39 points, and the S&P gained 30.98 points. Total NYSE volume traded, a modest 4.07 billion shares. Advancing shares outpaced Declining shares by 2.95:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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