Monday's Market Tear Sheet - Investors Cautious Ahead Of Big Tech Earnings Later In Week.
- cashtonsaunders
- Jul 24, 2022
- 2 min read
What is The Premarket Telling Us?
Monday, July 25, 2022, 7:30 AM.
Action in the stock futures market pointed modestly higher early. Dow futures were up 160 points, Nasdaq futures up 55 points, and S&P up 19 points. Asian markets ended lower overnight. A big week for corporate earnings is on tap, as companies such as Apple, Amazon, Meta, and Google report this week.
On The Bond Desk:
The US 10-Year Bond Yield at 2.763%, down 0.1270%.
Currency Desk:
Eurodollar:1.02
UK Pound: 1.20
Crude Oil:
WTI crude oil futures at $95.65/barrel, down 1.00%.
On the Earnings Calendar:
Alphabet - GOOGL, Amazon, and META report quarterly earnings later this week.
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets ended lower. Japan (Nikkei 225) down 0.77%, Shanghai down 0.60%, Hong Kong (Hang Seng) down 0.38%.
Major European markets closed mixed today. German (DAX) down 0.33%, France CAC 40 up 0.33%, London FTSE 100 up 0.41%.
Market And Sector Dynamics
US markets opened the day flat with the Dow up 35 points, Nasdaq up 3 points, and the S&P up 3 points. WTI opened higher at $95.66/barrel, up 1.01%, and the US 10 Year Bond stood at 2.834% up marginally.
Following yesterday's modest rally market struggled to find direction in today's session. The Dow bounced from flat to up over 100 points at points during the session. At the low of the day, the Dow was down 76 points. After Snap, and Twitter's poor overall earnings performance investors were being cautious, as they anticipate earnings reports from Google, Meta, Amazon, and others later this week.
Eight of the eleven S&P sectors ended today with gains led by Energy, Utilities, Financials, Healthcare, Industrials, Consumer Staples, Basic Materials, and Real Estate. Consumer Discretionary, Technology, and Communication Services finished with losses.
Factors Influencing Today's Market
Investors were cautious today ahead of this week's busy earnings schedule for FAANG companies.
Major Asian markets closed down in their session, while European markets were mixed.
US 10-Year Bond Yield closed up today at 2.807%, up 0.79%.
WTI crude oil ended trading today at 96.22/barrel, up 1.38%.
Market Close Volume Traded And Advance Decline Ratio
Stocks were mixed at the end of trading. The Dow gained 90.75 points, Nasdaq lost 51.45 points, and S&P gained 5.45 points. Total NYSE volume traded was a light 4.22 billion shares. Advancing shares outpaced Declining shares by 1.53:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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