Monday's Market Recap - Stocks Rallied On Hint Of Cease-Fire In Ukraine.
- cashtonsaunders
- Mar 28, 2022
- 2 min read
What is The Premarket Telling Us?
Monday, March 28, 2022, 7:35 AM.
US stock futures were mildly higher early in the premarket. Dow futures were up 68 points, Nasdaq futures down up 38 points, and S&P futures up 11 points. Major Asian markets ended their session mixed.
On The Bond Desk:
The US 10 Year Bond Yield at 2.492%, up 0.151%
Currency Desk:
Eurodollar: 1.09
UK Pound: 1.31
Crude Oil:
WTI crude oil futures at $107.46/barrel, down 4.34%.
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 0.73%, Shanghai up 0.02%, Hong Kong (Hang Seng) down 1.27%.
Major European markets closed mixed as well. German (DAX) up 0.78%, France CAC 40 up 0.54%, London FTSE 100 down 0.14%.
Market And Sector Dynamics
US stocks were mixed at the opening today. The Dow fell 42 points, Nasdaq up 12 points, and the S&P slipped 4 points. WTI crude oil opened at $106.52/barrel, down 6.48%, and the US 10 Year Bond was down 3 basis points to 2.462%.
In addition to the crisis in Ukraine, and worry about the anticipated string of Fed interest rate hikes, investors had to deal with the news that the administration's new budget proposal included a new tax on multi-millionaires and billionaires.
Stocks hovered in negative territory for most of the session, before returning to positive territory just before the close of trading.
Market tone was mostly positive, with eight of the eleven S&P sectors ending with gains, led by Consumer Discretionary, Real Estate, Technology, Healthcare, Utilities, Consumer Staples, Communication Services, and Industrials. Energy, Basic Materials, and Financials finished lower.
Factors Influencing Today's Market
The Biden Administration's new budget proposal suggested a new tax on multi-millionaires and billionaires
There seems to be a hint of positive news coming out of Ukraine.
US 10 Year Bond Yield closed at 2.466%, down 0.22%.
WTI crude oil closed today at $105.96/barrel, down 6.97%.
Market Close Volume Traded And Advance Decline Ratio
The US stock markets ended moderately higher in today's session. The Dow gained 94.65 points, Nasdaq gained 185.60 points, S&P gained 32.46 points. Total NYSE volume trade was a modest 4.29 billion shares. Advancing and Declining shares were mostly even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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