Monday's Market Recap - Investors Dump Stocks On Report Russia Asked China For Arms & Money.
- cashtonsaunders
- Mar 14, 2022
- 2 min read
What is The Premarket Telling Us?
Monday, March 14, 2022, 7:30 AM.
Stock futures were mixed two hours before the official start of trading. Dow futures were up 31 points, Nasdaq futures down 22 points, and S&P futures up 19 points. Major Asian markets ended mixed.
On The Bond Desk:
The US 10 Year Bond Yield @ 2.004%, down 0.007%.
Currency Desk:
Eurodollar: 1.09
UK Pound: 1.30
Crude Oil:
WTI crude oil futures at $103.29/barrel, down 2.57%.
On the Earnings Calendar:
None to report
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets were lower overnight. Japan (Nikkei 225) down 0.58%, Shanghai down 2.60%, Hong Kong (Hang Seng) down 5.13%.
Major European markets closed higher today. German (DAX) up 2.21%, France CAC 40 up 1.75%, London FTSE 100 up 0.53%.
Market And Sector Dynamics
US stocks were mixed at the open as the Russia Ukraine crisis drags on despite talks scheduled for today. The Dow gained 235, Nasdaq down 32 points, and the S&P was up 16 points.
Markets remained solidly higher during the morning session, with the Dow up more than 450 points around 11:00 AM, the intraday high. The rally faded in the early afternoon, sending the Dow down into negative territory, before staging a mild recovery, to close just above the flat line.
The crisis in Ukraine continued to be a problem for the market, with the Nasdaq taking the brunt of the losses in today's trading. Domestically, investors' minds, are also focused on the Fed will almost certainly raise interest rates by twenty-five basis points, later this week.
Seven of the eleven S&P sectors ended with losses today, led by Energy, Technology, Communication Services, Consumer Discretionary, Real Estate, Basic Materials, and Utilities. Financials, Healthcare, Consumer Staples, and Industrials recorded modest gains.
Factors Influencing Today's Market
Russia Ukraine crisis continued to be the main focus for investors, as western governments intensify sanctions on Russia.
The Fed/FOMC will almost certainly hike interest rates by a quarter-point at their meeting later this week.
Asian markets traded lower overnight, while European markets closed higher in their session.
US 10 Year Bond Yield closed today at 2.142%, up 5.04%.
WTI crude oil moderated somewhat today, to closed at $103.11/barrel, down 5.78%
Market Close Volume Traded And Advance Decline Ratio
Stocks closed lower in today's session. The Dow added 1.05 points, Nasdaq lost 252.69 points, and the S&P lost 31.20 points. Total NYSE volume traded was a modest 5.60 billion shares. Declining shares outpaced Advancing shares by 2.84:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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