Monday's Market Recap - Dow Lower As Nasdaq & S&P Push New Record Highs.

cashtonsaunders
Jun 27, 2021
2 min read

Updated: Jul 1, 2021

What is The Premarket Telling Us?

June 28, 2021 7:15 AM.

Stock futures are mixed at this early hour. Dow futures modestly down 32 points, Nasdaq futures up 36 points, and S&P futures up 1.50 points.

Asian markets ended mostly flat.

On The Bond Desk:

The US 10 Year Bond Yield at 1.536%, up 0.04%.

Currency Desk:

Eurodollar: 1.19

UK Pound: 1.39

Crude Oil:

WTI crude oil futures at $73.98/barrel, down 0.09%.

On the Earnings Calendar:

None to report

In M&A News:

None to report

What About The Asian And European Markets?

Major Asian markets their session mostly flat. Japan (Nikkei 225) down 0.06%, Shanghai down 0.03%, Hong Kong (Hang Seng) down down 0.07%.

Major European markets ended their day lower. German (DAX) fell 0.34%, France CAC 40 lost 0.98%, London FTSE 100 lost 0.88%.

Market And Sector Dynamics

Markets opened the trading session mixed, as the global growth story is definitely improving, as vaccination continue and more countries contemplate opening their borders. Both the Nasdaq and S&P recorded new highs shortly after the opening bell, before pulling back from those levels. Twenty minutes after the open, the Dow plunged 178 points, Nasdaq gained 76 points, and S&P slipped 4 points.

A rotation back to growth appears to be the directional pull in the markets. FAANG stocks such as Facebook, Amazon, and other large growth stocks have regained their luster, leading market higher.

Seven of the eleven S&P sectors closed today's session with gains, led by Technology, Communication Services, Utilities, Consumer Discretionary, Healthcare, Real Estate, and Consumer Staples. Energy, Financials, Industrials, and Basic Materials, ended the session with losses.

Factors Influencing Today's Market

Global growth is strong and improving, adding positive sentiment to markets.
Markets are in a rotation mode, from value oriented companies, back to large growth issues which dominate the markets during the pandemic lockdown.
US 10 Year Bond Yield closed at 1.482%, down 3.0%.
WTI crude oil closed today at $72.91/barrel, down 1.54%.

Market Close Volume Traded And Advance Decline Ratio

When the markets closed, the major indexes were mixed. The Dow fell 150.57 points, the Nasdaq gained 140.12 points, and the S&P gained 9.91 points, both closing a new record highs. Total NYSE volume traded, a modest 4.19 billion shares. Declining shares outpaced Advancing shares by 1.44:1.

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