Monday's Market Recap - After A Negative Starts Stocks Finished Higher.

cashtonsaunders
Apr 3, 2022
2 min read

What is The Premarket Telling Us?

Monday, April 4, 2022, 7:30 AM.

Stock index futures were modestly higher in the premarket this morning. Dow futures were up 23 points, Nasdaq futures up 63 points, and S&P futures up 10 points. Asian markets ended with solid gains.

On The Bond Desk:

The US 10 Year Bond Yield at 2.377%, up 0.050%.

Currency Desk:

Eurodollar: 1.10

UK Pound: 1.31

Crude Oil:

WTI crude oil futures at $100.54/barrel, up 0.26%.

On the Earnings Calendar:

None to report

In M&A News:

Chipmaker, Advanced Micro Devices (AMD) announced today it has acquired data center optimization startup, Pensando for $2 Billion.

What About The Asian And European Markets?

Major Asian markets ended with gains today. Japan (Nikkei 225) up 0.25%, Shanghai up0.94%, Hong Kong (Hang Seng) up 2.04%.

Major European markets closed modestly higher. German (DAX) up 0.28%, France CAC 40 up 0.70%, London FTSE 100 up 0.28%.

Market And Sector Dynamics

US stocks were off to a mixed start today. The Dow was down 81 points, Nasdaq up 43 points, and the S&P down 3 points. WTI crude oil was up 3.37% to $102.62/barrel. The US 10 Year Bond Yield hovered at 2.393%, up 3.3 basis points.

After the modestly lower start, markets struggled to find direction in the morning session but finally turned around at noontime, and held on in positive territory into the close of trading. Comments by Banker, Jamie Dimon, from JPMorgan highlighting the potentially destabilizing effect of the war in Ukraine, was definitely one of the factors holding investors back early in the session.

Market tone was mildly negative in the session with seven of the eleven S&P sectors ending mildly lower, led by Utilities, Healthcare, Financials, Consumer Staples, Real Estate, Industrial, and Basic Materials. Consumer Discretionary, Communication Services, Technology, and Energy, ended higher.

Factors Influencing Today's Market

Comments from JPMorgan's CEO, Jamie Dimon on the negative effects of the war in Ukraine on US economic activity casted a cloud over the market early in today's session.
Major Asian and European markets ended higher today.
US 10 Year Bond Yield ended today at 2.395% down 0.22%.
WTI crude oil price closed today at $104.53/barrel, up 6.25%.

Market Close Volume Traded And Advance Decline Ratio

At the end of trading today, the Dow up 103.61 points, Nasdaq was up 271.05 points, and S&P up 36.78 points. Total NYSE volume traded was a light 4.48 billion shares. Advancing shares outpaced Declining shares by 1.20:1.

Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.