Monday's Market Recap - Stocks Finished Higher As Covid-19 Vaccinations Begin In Here In America.
- Dec 14, 2020
- 2 min read
What is The Premarket Telling Us?
7:55 AM.
Stock futures are sharply positive at this hour. Dow futures were up 242 points, Nasdaq up 82 points, and the S&P up 29 points.
On The Bond Desk:
The US 10 Year Bond Yield at 0.89%, down 0.02%.
Currency Desk:
Eurodollar: 1.21
UK Pound: 1.32
Crude Oil:
WTI crude oil futures at $47.04/barrel, up 1.01%
On the Earnings Calendar:
None to report.
In M&A News:
None to report.
What About The Asian And European Markets?
Major Asian markets were mixed. Japan (Nikkei 225) ended flat, Shanghai up 0.66%, Hong Kong (Hang Seng) down 0.44%
Major European markets were also mixed. German (DAX) up 0.83%, France CAC 40 up 0.37%, London FTSE 100 down 0.23%.
Market And Sector Dynamics
Stocks opened the trading session moderately positive with the Dow gaining 188 points, Nasdaq gaining 77 points, and the S&P rose 21 points. WTI crude oil began the day at $46.91/barrel, up 0.94%, and the US 10 Year Bond Yield held at 0.923%. Vaccination optimism ruled the markets today, as the US began the process of vaccinating Americans, beginning with healthcare workers across the country.
Stocks climbed even higher shortly after the open with the Dow up 270 points, just after 10:30 AM. Unfortunately, stocks began to decline from that point on, and continued it decline into the close of the session.
In today's selloff, nine of the eleven S&P sectors closed with losses, led by Energy, Basic Materials, Industrials, Financials, Real Estate, Financials, Communication Services, Utilities, Consumer Staples. Consumer Discretionary and Technology ended the session modestly higher.
Factors Influencing Today's Market
The first vaccination of Americans with the Pfizer Covid-19 vaccine began in the US today.
Major Asian and European markets closed mixed in their sessions.
US 10 Year Bond Yield closed at 0.911%, down 1.28%.
WTI crude oil price closed the day at $46.95/barrel, up 0.60%.
Market Close Volume Traded And Advance Decline Ratio
At the end of trading, markets were mixed, with the Dow down 184.82 points, Nasdaq up 62.17 points, and the S&P fell 15.97 points. Total NYSE volume traded, a moderate 4.70 billion shares. Declining shares outpaced Advancing shares by 1.59:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance. Wall Street Journal - Market Diary.
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