Monday's Market Recap - Stocks Start The New Year In Rally Mode.
- Jan 3, 2022
- 2 min read
What is The Premarket Telling Us?
Monday, January 3, 2022, 9:00 AM.
Stock futures were modestly higher early, an indication of a positive open to begin the first day of trading for the year. Dow futures were up 35 points, Nasdaq futures down 50 points, and S&P futures up 16 points. Asian markets ended the first trading day of the year mixed.
On The Bond Desk:
The US 10 Year Bond Yield ticked higher to 1.586%, up 0.074%.
Currency Desk:
Eurodollar: 1.13
UK Pound: 1.34
Crude Oil:
WTI crude oil futures at $74.68/barrel, down 0.70%.
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) fell 0.40%, Shanghai up 0.57%, Hong Kong (Hang Seng) down 0.53%.
Major European markets closed mixed. German (DAX) up 0.86%, France CAC 40 up 0.90%, London FTSE 100 down 0.25%.
Market And Sector Dynamics
US stocks opened higher to kick of the new year of trading. The Dow surged 82 points, Nasdaq gained 114 points, and S&P gained 19 points.
Shares of Tesla led markets higher today as the company reported blowout fourth-quarter production numbers on Sunday.
Stocks remained firmly in positive territory tor the entire session today, led primarily by shares of energy, consumer Discretionary,financial and technology companies.
Six of eleven S&P sectors closed the session with losses, led by Basic Materials, Healthcare, Real Estate, Utilities, Industrials, and Consumer Staples. Energy, Consumer Discretionary, Financials, Technology, and Communication Services ended the session higher.
Factors Influencing Today's Market
Market rallied higher as investors see Omicron as more contagious, but infections appear to be milder than the Alpha or Delta variants.
US 10 Year Bond Yield closed today at 1.637%, surging up 8.26%.
WTI crude oil ended the day at $76.08/barrel, up 1.16%.
Asian and European markets closed mixed in their sessions.
Market Close Volume Traded And Advance Decline Ratio
When trading ended on the first trading day of the new year. The Dow gained 246.76 points, Nasdaq gained 187.83 points, and the S&P gained 30.38 points. Total NYSE volume traded a modest billion shares. Advancing shares outpaced Declining shares by 1.33:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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