Monday's Market Recap - JPMorgan CEO, Jamie Dimon Comments, A Catalyst For Today's Rally.
- cashtonsaunders
- May 23, 2022
- 2 min read
What is The Premarket Telling Us?
US stock futures looked undeniably buoyant this morning, indicating markets would open with solid gains. Dow futures were up 272 points, Nasdaq futures up 169 points, and S&P futures were up 41 points. Major Asian markets ended their session higher.
On The Bond Desk:
The US 10 Year Bond Yield at 2.855%, down 0.0310%.
Currency Desk:
Eurodollar: 1.05
UK Pound: 1.24
Crude Oil:
WTI crude oil futures at $110.07/barrel, up 0.16%.
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 1.27%, Shanghai up 1.60%, Hong Kong (Hang Seng) up 3.05%.
Major European markets were solidly higher. German (DAX) up 1.38%, France CAC 40 up 1.17%, London FTSE 100 up 1.67%.
Market And Sector Dynamics
Markets rallied higher in the early going with the Dow up 237 points, Nasdaq up 49 points, and the S&P up 32 points. WTI crude oil started off at $109.95/barrel, down 0.30%. The US 10 Year Bond Yield started the day out at 2.839%, up 5.2 basis points. Stocks soared higher after the open and remained elevated for the entire session.
Today's market tone was markedly positive with all eleven S&P sectors finishing the day with solid gains, led by Financials, Energy, Technology, Consumer Staples, Basic Materials, Communication Services, Industrials, Real Estate, Utilities, Healthcare, and Consumer Discretionary.
Factors Influencing Today's Market
At the JPMorgan Investor Conference today, CEO, Jamie Dimon made positive comments about what his company is seeing across his operations, and products.
Major Asian and European markets ended with gains in their sessions today.
US 10 Year Bond Yield ended today at 2.853%, up 1.63%.
WTI crude oil prices ended today at $110.61/barrel, up 0.27%.
Market Close Volume Traded And Advance Decline Ratio
The bulls stepped into the trading arena and showed their dominance today. Leading some investors to ask, could this really be the bottom?
No one knows, but it sure feels good. At the close, the Dow gained 618.34 points, Nasdaq gained 180.66 points,j and S&P gained 72.39 points. Total NYSE volume traded was a light 4.46 billion shares. Advancing shares outpace Declining shares by 2.20:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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