Monday's Market Recap - Dow & S&P Paused Today, While Nasdaq Record Gains.
- Jun 7, 2021
- 2 min read
What is The Premarket Telling Us?
June 7, 2021 7:30 AM.
Stock futures are mixed at this hour, two hours before the start of trading for the new week. Dow futures are up 21 points, Nasdaq futures down 34 points, and the S&P futures were flat. Asian stocks were mixed.
On The Bond Desk:
The US 10 Year Bond Yield at 1.579%, up 1.9 basis points.
Currency Desk:
Eurodollar: 1.21
UK Pound: 1.41
Crude Oil:
WTI crude oil futures at $69.35/barrel, down 0.39%.
On the Earnings Calendar:
None to report
In M&A News:
Blackstone has entered into a definitive agreement to by QTS Reality Trust for $78/share or $10 Billion.
What About The Asian And European Markets?
Major Asian markets closed mixed. Japan (Nikkei 225) gained 0.27%, Shanghai up 0.21%, Hong Kong (Hang Seng) fell 0.45%.
Major European markets also closed mixed. German (DAX) down 0.10%, France CAC 40 up 0.43%, London FTSE 100 up 0.12%.
Market And Sector Dynamics
Stocks opened this morning mixed. The Dow gained 63 points, Nasdaq down 11 points, and the S&P was flat. WTI crude oil started the day off at $69.72/barrel, and the US 10 Year Bond held at 1.569%.
The market turned lower shortly after the open, gradually losing momentum as the trading day progressed.
At the high of the morning the Dow was up nearly 50 points. At the low, the Dow was down 175 points, around 2:00 PM, but recovered slightly into the close.
Seven of eleven S&P sectors ended today's session modestly lower, led by Basic Materials, Industrials, Financials, Energy, Consumer Staples, Consumer Discretionary, and Technology. Real Estate, Communication Services, Healthcare, and Utilities, ended higher.
Factors Influencing Today's Market
Blackstone has agreed to buy QTS Realty Trust for $78/share or $10 Billion.
Asian and European markets ended their sessions mixed.
US 10 Year Bond closed today at 1.570%, up 0.11%.
WTI crude oil closed today at $69.24/barrel, up 0.69%.
Market Close Volume Traded And Advance Decline Ratio
When trading ended today, the major indexes were mixed. The Dow down 126.15 points, Nasdaq gained 67.23 points, and the S&P slipped 3.37 points. Total NYSE volume traded, a modest 4.50 billion shares. Advancing shares outpace Declining shares by 1.30:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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