Monday's Market Recap - The Bulls Came Out In Full Force Today Pushing Stocks Significantly Higher.
- cashtonsaunders
- Jan 31, 2022
- 2 min read
What is The Premarket Telling Us?
Monday, January 31, 2022, 7:44 AM.
Stock futures were down this morning, the final trading day of January. Will stocks close out a volatile January the same way it started? Dow futures were down 226 points, Nasdaq futures down 5 points, and S&P down 20 points. We have a busy earnings week on tap, with many high-growth technology stocks reporting in the next few days.
On The Bond Desk:
The US 10 Year Bond Yield @1.798%, up 1.8 basis points.
Currency Desk:
Eurodollar: 1.11
UK Pound: 1.34
Crude Oil:
WTI crude oil futures at $87.51/barrel, down 0.79%.
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) up 1.07%, Shanghai down 0.97%, Hong Kong (Hang Seng) down up 1.07%.
Major European markets closed mixed. German (DAX) up 0.99%, France CAC 40 up 0.48%, London FTSE 100 down 0.02%.
Market And Sector Dynamics
Stocks started the trading day mixed, on the final day of January. The Dow was down183 points, Nasdaq gained 18 points and S&P fell 8 points. WTI crude oil also got off to a positive start, up 0.78% to $87.50/barrel, and the US 10 Year Bond ticked higher at 1.802%, up 0.78%.
Stocks opened modestly lower but moves solidly higher from left to right to close at the intraday high. It was a broad rally, as investors went on a bargain hunt, buying up stocks across all sectors, after the deep selloff that took place during the month of January.
Market tone was very positive in today's session, with all eleven S&P sectors ending the day with gains, led by Consumer Discretionary, Technology, Communication Services, Utilities, Basic Materials, Real Estate, Industrials, Financials, Healthcare, Consumer Staples, and Energy.
Factors Influencing Today's Market
US 10 Year Bond Yield closed today at 1.787%, up 0.10%.
WTI crude oil price ended the day at $88.39/barrel, up 0.71%.
Asian market ended mixed in their session overnight.
Market Close Volume Traded And Advance Decline Ratio
All the major indexes ended significantly higher, with the Dow up 406.39 points, Nasdaq soared 469.31 points, and the S&P gained 83.70 points. Total NYSE volume traded, a modest 5.21 billion shares. Advancing shares outpaced Declining shares by 4.33:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
Comments