Monday's Market Recap - High Technology High Growth Stocks Maybe Regaining Its Leadership Role.
- Apr 5, 2021
- 2 min read
What is The Premarket Telling Us?
7:00 AM.
US stock futures are all green at this hour. Dow futures are up 228 points, Nasdaq futures up 49 points, and S&P futures up 21 points. Asian markets ended with gains overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 1.679%, unchanged.
Currency Desk:
Eurodollar: 1.17
UK Pound:
Crude Oil:
WTI crude oil futures at $60.15/barrel,down, $1.30.
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 higher. Japan (Nikkei 225) up 0.79%, Shanghai up 0.52%, Hong Kong (Hang Seng) up 1.97%.
Major European markets closed higher. German (DAX) up 0.66%, France CAC 40 %, London FTSE 100 up 0.35%.
Market And Sector Dynamics
Markets opened sharply higher with the Dow up 242 points, Nasdaq gained 109 points, and the S&P gained 29 points. WTI crude oil started the day lower at $60.15/barrel, down 2.12%, and the US 10 Year Bond at 1.718%, down 0.5 basis points.
Markets remained solidly elevated for the entire trading session, reaching the high of the day around 12:30 PM, with the Dow up 460 points, before pulling back only slightly in the last two hours of trading.
The US 10 Year Bond Yield started off slightly lower this morning and remained relatively subdued during the session, giving high growth technology stocks an excuse to rally. Google, Facebook, Tesla, and Microsoft, recorded strong gains.
In today's rally, ten of the eleven S&P sectors ended the day with solid gains, led by Consumer Discretionary, , Communication Services, Technology, Consumer Staples, Industrials, Basic Materials, Utilities, Financials, Healthcare, and Real Estate. Energy ended the session lower.
Factors Influencing Today's Market
Asian and European ended their session with moderate gains.
The US 10 Year Bond closed today at 1.707%, up 0.12%.
Tesla rallied today after announcing on Friday that it delivered record number of Model 3 and Model Y SUVs its cheaper models, in the first quarter. Even though the company did not build any of its more expensig Model S, sedans or Model X SUVs, the market saw it as a positive.
WTI crude oil closed today at $58.91/barrel, down 3.87%.
Market Close Volume Traded And Advance Decline Ratio
Stocks rallied higher in today's session. The Dow gained 373.98 points, Nasdaq gained 225.49 points, and the S&P gained 58.04 points. Total NYSE volume traded, a modest 4.10 bilion shares. Advancing shares outpaced Declining shares by 1.69:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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