Monday's Market Recap - Trump Health Improves And Stocks Rally.
What is The Premarket Telling Us?
7:30 AM.
US stock futures are all flashing green at this hour, with Dow futures up 192 points, Nasdaq futures up 107 points, and S&P futures up 23 points.Asian markets traded higher overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 0.70%, up 0.02%.
Currency Desk:
Euro dollar: 1.17
UK Pound: 1.29
Crude Oil:
WTI crude oil futures at $38.60/barrel, up 4.18%.
On the Earnings Calendar:
None.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets ended higher. Japan (Nikkei 225) up 1.23%, Shanghai on holiday, Hong Kong (Hang Seng) up 1.32%
Major European markets ended moderately up. German (DAX) up 1.10%, France CAC 40 up 0.97%, London FTSE 100 up 0.69%.
Market And Sector Dynamics
Stock jumped off to a strong positive start, with the Dow up 208 points, Nasdaq up 98 points, and the S&P up 24 points, as markets assessed that the President has condition has improved, since he was taken to Walter Reed Medical Center, on Friday evening, after being diagnosed with the Covid-19 virus.
Banks and energy, and basic materials related stocks are lead markets higher, early. WTI crude oil is also up at $39.02/barrel, and the US 10 Year Bond Yield
Markets continued to climb even higher during the morning session, and held on at that level for most of the session, and ticked even higher shortly before the close.
Today's 'risk on' rally was broad-based and very positive, with all eleven S&P sectors ended the day with gains, led by Energy, Technology, Healthcare, Basic Materials, Communication Services, Industrials, Consumer Discretionary, Financials, Utilities, Consumer Staples, and Real Estate
Factors Influencing Today's Market
President Trump has condition has improved since he was admitted to the hospital on Friday evening.
Some optimism that the additional Covid-19 fiscal bill may still be possible.
Asian and European markets traded higher in their sessions.
US 10 Year Bond Yield closed at 0.778% up 10.33%.
WTI crude oil closed at $39.22/barrel, up 5.15%.
Market Close Volume Traded And Advance Decline Ratio
The bulls had a strong session today. At the end of trading the Dow soared 465.83 points, Nasdaq jumped 257.47 points, and the S&P gained 60.19 points. Total NYSE volume traded, a modest 3.78 billion shares.
Advancing shares outpaced Declining shares nearly 3:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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