Monday's Market Tear Sheet - A Subdued Trading Session After Last Week's Gains.
- cashtonsaunders
- Aug 1, 2022
- 2 min read
What is The Premarket Telling Us?
Monday, August 1, 2022
Stock index futures were flat to mildly lower early in the premarket session. Dow futures down 9 points, Nasdaq down15 points, and the S&P down 6 points. Asian markets were mostly higher in their session overnight. Second Quarter Earnings season continues, with Uber, Lyft, and Catapillar expected to report this week.
On The Bond Desk:
The US 10-Year Bond Yield at 2.642% down 0.039%.
Currency Desk:
Eurodollar: 1.02
UK Pound: 1.22
Crude Oil:
WTI crude oil futures started off at $96.96/barrel, down 1.68%.
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 higher. Japan (Nikkei 225) up 0.69%, Shanghai up 0.20%, Hong Kong (Hang Seng) up 0.05 %
Major European markets fell modestly today. German (DAX) down 0.03%, France CAC 40 down 0.18%, London FTSE 100 down 0.13%.
Market And Sector Dynamics
Markets opened the trading day lower with the Dow down 115 points, Nasdaq down 70, and the S&P lost 25 points. WTI crude oil started the day off at $92.99/barrel, down 5.71%, and the US 10 Year Bond Yield hovered at 2.647%.
Markets traded in and out of positive territory during today's session. At the high, the Dow was up near 140 points, and at the low was down 200 points.
US Speaker Nancy Pelosi's trip to Asia, with a possible visit to Taiwan, has stoked geopolitical tensions, between the US and China. China sees such a trip as interfering in its internal affairs. China considers Taiwan its territory. China's leaders have recheted up there rhetoric, with blustering comments and threats. US markets are cautious ahead of the Speaker's visit, which could take place tomorrow.
Seven of eleven S&P sectors ended the day with losses led by, Energy, Financials, Real Estate, Basic Materials, Healthcare, Communication Services, and Technology. Consumer Staples, Consumer Discretionary, Industrials, and Utilities ended higher.
Factors Influencing Today's Market
Major Asian markets traded higher overnight, while European markets ended mildly lower.
US 10 Year Bond Yield closed today at 2.568%, down 3.84%.
WTI crude oil price closed at $93.74/barrel, down 4.29%.
Final read for July PMI Manufacturing Index came in at 52.2 vs 52.3 consensus estimate
ISM Manufacturing Index came in slightly better than expected 52.8 vs 52.2 consensus estimate.
Market Close Volume Traded And Advance Decline Ratio
US markets closed modestly lower today. The Dow lost 46.73 points, Nasdaq fell 21.71 points, and the S&P fell 11.66 points. Total NYSE volume traded was a light 4.38 billion shares. Advancing shares outpaced Declining shares by 1.17:1
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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