Monday's Market Recap - US Stocks Rallies For A Fourth Straight Session.
- cashtonsaunders
- Sep 12, 2022
- 2 min read
What is The Premarket Telling Us?
Monday, September 12, 2022. 7:24 AM.
US stock futures were nicely elevated at this hour. Dow futures were up 83 points, Nasdaq futures up 69 points, and S&P futures up 19 points. This week is very important for the market, with the expected release of August CPI data on Tuesday morning, as well as other important data later in the week, and what that data portends for the Feds interest rate hike regime. Major Asian markets ended their session higher.
On The Bond Desk:
The US 10-Year Bond Yield
Currency Desk:
Eurodollar: 1.01
UK Pound: 1.16
Crude Oil:
WTI crude oil futures at $87.33/barrel, up 0.62%.
On the Earnings Calendar:
Oracle reports quarterly earnings after the close today.
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets ended higher Japan (Nikkei 225) up 1.16%, Shanghai up 0.82%, Hong Kong (Hang Seng) up 2.69%.
Major European markets closed decidedly higher. German (DAX) up 2.40%, France CAC 40 up 1.95%, London FTSE 100 up 1.66%.
Market And Sector Dynamics
US markets opened convincingly higher today. The Dow gained 136 points, Nasdaq gained 73 points, and S&P gained 23 points. WTI opened the trading session two cents higher, at $86.35/barrel, and the US 10 Year Bond Yield remained neutral at 3.315%.
Markets soared higher shortly after the opening with the Dow climbing nearly 350 points, one hour after the market opened. Markets were buoyed by a growing sense that inflation had peaked, and a growing consensus among investors that the Fed will raise interest rates by either 0.50% or 0.75% at its meeting in late September. Reported offensive successes by Ukraine in retaking some territories that were previously captured by the Russians was a positive sentiment for the markets, globally. The market may also have oversold following the Labor Day selloff.
All eleven S&P sectors ended today with gains, led by Energy, Technology, Consumer Discretionary, Utilities, Basic Materials, Financials, Real Estate, Healthcare, Industrials, Communication Services, and Consumer Staples.
Factors Influencing Today's Market
Offensive successes in Ukraine, capturing some parts of the country previously captured and held by Russia.
Asian and European markets ended their sessions higher.
The US 10 Year Bond Yield ended today at 3.362%, up 1.28%.
WTI crude oil closed today's session at $88.14/barrel, up 2.10%.
Market Close Volume Traded And Advance Decline Ratio
US markets ended higher for a fourth consecutive day on Monday. At the close the Dow was up 229.63 points, Nasdaq gained 154.10 points, and S&P rose 43.05 points. Total NYSE volume traded was a light 3.81 billion shares. Advancing shares outpaced Declining shares by 3.15:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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