Wednesday's Market Recap - Stocks Ended The Second Quarter In Rally Mode.

What is The Premarket Telling Us?

June 30, 2021 7:15 AM.

Stock futures are mostly flat at this hour, with just less than 2 and a half hours before the start of trading, to close out the second quarter, and the first half of the year. Dow futures are down 17 points, Nasdaq futures down 4.50 points, and the S&P futures down 2.25 points. Asian markets ended mixed overnight.

On The Bond Desk:

The US 10 Year Bond Yield at 1.480%, up 0.01%.

Currency Desk:

Eurodollar: 1.18

UK Pound: 1.38

Crude Oil:

WTI crude oil futures at $73.78/barrel, up1.10%

On the Earnings Calendar:

None to report

In M&A News:

None to report

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What About The Asian And European Markets?

Major Asian markets ended the day mixed. Japan (Nikkei 225) down .07%, Shanghai up 0.50%, Hong Kong (Hang Seng) down 0.48%.

Major European markets ended lower. German (DAX) fell 1.02%, France CAC 40 down 0.91%, London FTSE 100 lost 0.71%.

Market And Sector Dynamics

On the final day of trading in the second quarter, the markets opened mildly lower. The Dow lost 20 points, Nasdaq fell 16 points, and S&P slipped 2 points. WTI crude oil started off mildly higher at $73.52/barrel, up 0.70%, and the US 10 Year Bond Yield held at 1.453%.

Investors are cheering a very strong first half of the year, with the Dow, Nasdaq, and S&P up 13%, 13%, and 14% respectively.

Market turned higher shortly after the open, and climbed steadily higher as the session progressed, with the Dow ending near a intraday high.

Today's session was mostly positive, with six of the eleven S&P sectors ending higher, led by Energy, Industrials, Consumer Staples, Financials, Basic Materials, and Consumer Discretionary. Real Estate, Communication Services, Utilities, Technology, and Healthcare ended the session lower.

Factors Influencing Today's Market

• Investors celebrated a strong first half market performance.

• This week's ADP Private Employment report shows 692,000 private sector jobs were created. This was better than the 550.000 estimated.

• US 10 Year Bond Yield ended today at 1.456%, down 1.27%.

• WTI crude oil price closed at $73.56/barrel, up 0.79%.

• This week's EIA Petroleum Status Report shows US crude inventory drew down -6.70 million barrels vs 7.6 million barrels in the prior week.

Market Close Volume Traded And Advance Decline Ratio

When the markets closed mixed. The Dow gained 210.22 points, Nasdaq slipped 24.38 points, and the S&P gained 5.70 points. Total NYSE volume traded, a modest 4.33 billion shares. Advancing shares outpaced Declining shares by 1.35:1

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Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.