Monday's Market Recap - Stocks Fell Moderately In Today's Session Led By Apple And Boeing.
- Jan 11, 2021
- 2 min read
What is The Premarket Telling Us?
8:00 AM.
US stock futures are decidedly negative this morning, suggesting that the market may be inclined to take a breather today. Dow futures are down 231 points, Nasdaq futures down 78 points, and S&P futures down 24 points. Asian markets ended mixed in their session.
On The Bond Desk:
The US 10 Year Bond Yield at 1.10%, up 0.03%.
Currency Desk:
Eurodollar: 1.22
UK Pound: 1.35
Crude Oil:
WTI crude oil futures $51.86/barrel, down 0.75%.
On the Earnings Calendar:
None.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets ended mixed. Japan (Nikkei 225) close for holiday%, Shanghai down 1.08%, Hong Kong (Hang Seng) up 0.11%.
Major European markets closed lower. German (DAX) fell 0.80%, France CAC 40 down 0.78%, London FTSE 100 down 1.09%.
Market And Sector Dynamics
Today the markets opened sharply lower, with the Dow down 169 points, Nasdaq down 149 points, and the S&P fell 28 points. WTI crude oil was also mildly lower at $51.65/barrel, down 0.59%, while the US 10 Year Bond hovered at the 1.32% level. Boeing was responsible for most of the decline after, a Boeing 737-50 belonging to Indonesia Air, crash four minutes after takeoff from that country over the weekend. Shares of Apple were also down early. Declining shares outpaced Advancing shares by 4:1 early a few minutes into the session.
The market hit the intraday low shortly after the opening bell with the Dow down 266 points shortly before 10:00 AM. Stocks rebounded from the low in a choppy morning session, with the Dow almost back to the flat line, down only 2 points.
Stocks lost ground again in the afternoon session but fortunately, did not fall back to the morning lows.
In today's selloff, seven of the eleven S&P sectors closed the day with losses, led by Consumer Discretionary, Communication Services, Real Estate, Technology, Utilities, Consumer Staples, Industrials, and Basic Materials.
Factors Influencing Today's Market
The House of Representatives is going ahead to impeach the President for a second time.
Markets took a breather today driven by a decline in Boeing and Apple shares.
Both Asian and European markets ended their session mixed.
US 10 Year Bond close the day at 1.146%, up 2.44%.
WTI crude oil closed today at $52.12/barrel, down 0.36%.
Market Close Volume Traded And Advance Decline Ratio
After last week's sharp rally, the major market indexed pulled back today. The Dow fell 89.28 points, Nasdaq sank 165.54, and the S&P lost 25.07 points. Total NYSE volume traded, a moderate 4.50 billion shares. Declining shares outpaced Advancing shares by 1.51:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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