Monday's Market Recap - Markets End With Moderate Gains After Volatile Session.
- cashtonsaunders
- May 2, 2022
- 2 min read
What is The Premarket Telling Us?
Monday, May 2, 2022, 7:30 AM.
US stock futures were mostly higher early, with Dow futures up 56 points, Nasdaq futures down 3 points, and S&P futures up 1 point. Asian markets ended up mixed.
On The Bond Desk:
The US 10 Year Bond Yield was at 2.887%, up 0.024%.
Currency Desk:
Eurodollar: 1.05
UK Pound: 1.25
Crude Oil:
WTI crude oil futures at $101.37/barrel, down 3.17%.
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 mixed Japan (Nikkei 225) down 0.11%, Shanghai up 2.42%, Hong Kong (Hang Seng) up 4.01%.
Major European markets closed modestly higher. German (DAX) down 1.13%, France CAC 40 down 1.66%, London FTSE 100 up 0.47%.
Market And Sector Dynamics
Markets opened mildly mixed today with the Dow up 81 points, Nasdaq down 6 points, and the S&P up 4 points. WTI crude oil was down 2.83%, to $101.73/barrel. The US 10 Year Bond hovered just below the 3% mark, at 2.595%, up 7.2 basis points.
Market volatility continued in today's session as geopolitical concerns remain, the pace of Fed rate hikes, and the potential for a recession loomed over the markets.
Markets were volatile in today's session, with the market trading higher in the morning, but turned lower in the early in the afternoon session, before rallying strongly in the last hour of trading, as investors worry about Fed's rate hikes, the war in Ukraine, and concern about recession.
Six of the eleven S&P sectors ended with gains in today's trading, led by Communication Services, Technology, Energy, Consumer Discretionary, Industrials, and Financials. Real Estate, Consumer Staples, Utilities, Healthcare, and Basic Materials ended lower.
Factors Influencing Today's Market
Geopolitical concerns with the war in Ukraine, Fed's impending rate hikes, and concerns about recession.
Asian and European markets ended mixed in their sessions.
US 10 Year Bond climbed to 2.97%, up 1.47%.
WTI crude oil price closed at $105.12/barrel, up 0.41%.
Market Close Volume Traded And Advance Decline Ratio
The US stock markets closed modestly higher in today's session. At the close the Dow gained 84.29 points, Nasdaq rose 201.38 points, and the S&P gained 23.45 points. Total NYSE volume traded was a moderate 5.19 billion shares. Declining shares outpaced Advancing shares by 1.33:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
Comments