Monday's Market Recap - Stock Recorded Another Strong Day Of Gains.
- Mar 15, 2021
- 2 min read
What is The Premarket Telling Us?
8:30 AM.
US stock futures are mostly flat at this as we kick off the new week of trading. Dow futures are up 75 points, Nasdaq futures down 10 points, and S&P futures down 1 point. Asian markets closed mixed. Covid19 vaccinations continue at full pace here in the US, as more vaccines become available with the addition of the Johnson and Johnson candidate. An increasing number of countries in Europe, are suspending Astrazeneca vaccinations, due to unsubstantiated reports that it causes blood clots in some people. UK regulators, and the WHO have stated that there is no evidence to support this claim.
On The Bond Desk:
The US 10 Year Bond Yield at 1.64%, up 0.11%.
Currency Desk:
Eurodollar: 1.19
UK Pound: 1.39
Crude Oil:
WTI crude oil futures at $65.25/barrel, up 0.55%.
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) modestly up 0.17%, Shanghai down 0.96%, Hong Kong (Hang Seng) up 0.33%.
Major European markets were lower today. German (DAX) down 0.28%, France CAC 40 down 0.17%, London FTSE 100 down 0.17%.
Market And Sector Dynamics
Markets started the trading session moderately higher, with the Dow gaining 91points, Nasdaq down 4 points, and the S&P up 2 points. WTI crude oil was slightly lower at the start, $65.57/barrel, down 0.06%, and the US 10 Year Bond steady a 1.635%.
Forty-five minutes after the open, the Dow lost all of its gains, and then some, down 45 points, before recovering back to the flat line a short while later. One hour and a half later the Dow was down again, this time by 140 points. An hour later, the Dow recovered and remained positive for the rest of the session, jumping higher into the closed.
In today's rally, nine of the ten S&P sectors ended the session with gains, led by Utilities, Real Estate, Consumer Discretionary, Technology, Industrials, Healthcare, Communication Services, Consumer Staples, and Basic Materials. Energy139.84 and Financials ended lower in today's session.
Factors Influencing Today's Market
After a sold positive open, stocks went negative early after mention of tax increase package to support an infrastructure bill to be considered by the new administration.
The US 10 Year Bond ticked higher intraday, but ended the day at 1.606%, down 1.81%.
Asian markets closed modestly higher, while European markets ended lower.
WTI crude oil ended today at $65.31/barrel, down 0.99%.
Market Close Volume Traded And Advance Decline Ratio
At the end of trading, the major markets were all higher. The Dow gained 174.82 points, Nasdaq gained 139.84 points, and the S&P gained 25.60 points. Both the Dow and S&P closed at new all-time highs. Total NYSE volume traded, a moderate 4.92 billion shares. Advancing shares outpaced Declining shares by 1.66:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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