Monday's Market Recap - Big Cap High Growth Stocks Rallied Today.
- May 24, 2021
- 2 min read
What is The Premarket Telling Us?
May 24, 2021 7:30
US stock futures are moderately positive. Dow futures are up 98 points, Nasdaq futures up 73 points, and S&P futures up 17 points. Asian markets close mixed in their session.
On The Bond Desk:
The US 10 Year Bond Yield at 1.632%, down 0.02%
Currency Desk:
Eurodollar: 1.22
UK Pound: 1.41
Crude Oil:
WTI crude oil futures at $64.52/barrel, up 1.48%.
On the Earnings Calendar:
None to report
In M&A News:
Amazon is said to be buying MGM Studio, in a deal expected to close next week.
What About The Asian And European Markets?
Major Asian markets closed mixed. Japan (Nikkei 225) up 0.17%, Shanghai up 0.31%, Hong Kong (Hang Seng) down 0.16%
Major European markets closed with modest gains. German (DAX) up 0.44%, France CAC 40 rose 0.35%, London FTSE 100 up 0.48%.
Market And Sector Dynamics
Markets opened today's session solidly higher, with the Dow up 126 points, Nasdaq gained 86 points, and and the S&P gained 21 points. Shares of big cap, technology companies seems to be regaining momentum. Amazon, Facebook, Google, and Tesla were on the move from the get go.
Markets climbed higher after the open and remained at those elevation for most of the session, with the Dow up nearly 275 points in the late afternoon session, before pulling back modestly into the close of trading.
Today's rally saw ten of the eleven S&P sectors closed with gains, led by Communication Services, Technology, Real Estate, Consumer Discretionary, Energy, Basic Material, Industrials, Financials, Consumer Staples, and Healthcare. Utilities was the only sector that was lower.
Factors Influencing Today's Market
Big-Caps, and Technology stocks soared in trading today.
US 10 Year Bond Yield closed today at 1.603%, down 1.05%.
WTI crude oil closed higher today at $66.03/barrel, up 3.76%
Asian markets ended mixed, and European markets closed higher.
Market Close Volume Traded And Advance Decline Ratio
Markets closed higher in today's session. The Dow gained 186.14 points, Nasdaq gained 190.18 points, and the S&P rose 41.19 points. Total NYSE volume traded, a light 3.71 billion shares. Advancing shares outpaced Declining shares by 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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