Monday's Market Recap - Stocks Tumble On Falling 10 Year Yield And Fear Of Covid-19 Delta variant.
- cashtonsaunders
- Jul 18, 2021
- 2 min read
What is The Premarket Telling Us?
July 19, 2021 7:00 AM.
Stock futures are lower at this hour. Dow futures were down 376 points, Nasdaq fell 56 points, and S&P futures down 34 points. Asian markets ended lower in their session.
On The Bond Desk:
The US 10 Year Bond Yield was unchanged at 1.30%.
Currency Desk:
Eurodollar: 1.18
UK Pound: 1.38
Crude Oil:
WTI crude oil futures at $69.85/barrel, down 2.73%.
On the Earnings Calendar:
None to report
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets closed with mild losses overnight. Japan (Nikkei 225) fell 1.25%, Shanghai slipped 0.01%, Hong Kong (Hang Seng) lost 1.83%.
Major European markets also ended their day lower. German (DAX) down 2.22%, France CAC 40 2.54%, London FTSE 100 2.34%
Market And Sector Dynamics
Stock tumbles lower out of the gate, with the Dow down 458 points, Nasdaq down 152.25 points, and the S&P lost 68.67 points. WTI crude oil fell to $69.13 points, down 3.73%, and the US 10 Year Bond hovered at 1.215%, down 0.085 basis points.
Markets traded in negative territory for the entire session, with the Dow down 700 to 950 at various times during the session, led mostly by shares of Boeing, as investors worried about sinking 10 Year Bond Yield, rising cases of Covid-19 delta variant in the US and across the globe, and it potential to derail economic growth.
In today's massive selloff all eleven S&P sectors, ended the day with losses, led by Energy, Financials, Basic Materials, Industrials, Communication Services, Real Estate, Utilities, Technology, Consumer Discretionary, Healthcare, and Consumer Staples.
Factors Influencing Today's Market
Markets sold off heavily in today's session led by Boeing, which weighed heavily on the Dow, as investors worry about the Covid-19 Delta variant, and it potential to derail US and global economic recovery.
US 10 Year Bond spooked investors, as it ticked lower to close at 1.207%, down 4.86%.
WTI crude oil closed lower today at $66.89/barrel, down 5.97%.
Market Close Volume Traded And Advance Decline Ratio
Markets plunged today. The Dow sank 725.81 points, Nasdaq sank 152.25 points, and the S&P fell 68.67 points. Total NYSE volume traded, a light 4.74 billion shares. Declining shares outpaced Advancing shares by 5.58:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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