Friday's Market Tear Sheet - Markets Are Firmly In The Grip Of The Federal Reserve Rate Hikes.
- cashtonsaunders
- Sep 15, 2022
- 2 min read
What is The Premarket Telling Us?
Friday, September 16, 2022, 7:16 AM.
US stock futures were solidly in the red early in the premarket, indicating continuing weakness in US markets. Dow futures were down 237 points, Nasdaq futures down 124 points, and S&P futures were down 33 points. major Asian markets closed lower in their sessions.
On The Bond Desk:
The US 10-Year Bond Yield at 3.459%, up 0.047%
Currency Desk:
Eurodollar: 0.99
UK Pound: 1.14
Crude Oil:
WTI crude oil futures at $85.59/barrel, up 0.58%
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 lower. Japan (Nikkei 225) was down 1.11 %, Shanghai down 2.30%, Hong Kong (Hang Seng) down 0.89%.
Major European markets ended with across-the-board losses. German (DAX) down 1.66%, France CAC 40 down 1.31%, London FTSE 100 down 0.62%.
Market And Sector Dynamics
US markets opened significantly lower today. The Dow fell 348 points, Nasdaq down 169 points, and the S&P fell 45 points. WTI crude oil started off the trading day at $85.16/barrel, up 0.06 cents higher than yesterday's close, and the US 10 Year Bond at 3.447%, down 0.002%.
Markets traded in negative territory from start to finish in today's session as investors worry that the Federal Reserve will continue to hike interest rates, and most likely wilt tip the US economy into a recession. US Stocks have been under pressure since the release of August CPI data on Tuesday morning, which came in hotter than expected
Nine of the eleven S&P sectors ended lower in today's session, led by Energy, Industrials, Basic Materials, Consumer Discretionary, Communication Services, Technology, Utilities, and Healthcare. Consumer Staples and Real Estate were modestly higher..
Factors Influencing Today's Market
Consumer Sentiment rose in September to 59.5 vs 58.2 in August.
US 10-Year Bond Yield closed today at 3.447%, up 0.19%.
WTI crude oil price edged higher today, at $85.16/barrel up 0.01%
This week's Baker Hughes US Oil Rig count rose 8 rigs to 599 total.
Major Asian and European markets ended lower today.
Market Close Volume Traded And Advance Decline Ratio
US markets lost ground again on Friday. When trading ended for the day, the Dow was down 139.40 points, Nasdaq was down 103.95 points, and the S&P lost 28.02 points. Total NYSE volume traded was a heavy 7.95 billion shares. Declining shares outpaced Advancing shares by 2.73:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
Comments