Thursday's Market Recap - After A Solid PositiveOpen Stocks Sold Off At The Close Of The Day.
What is The Premarket Telling Us?
7:00 AM.
US stock futures are mixed at this hour. Dow futures up 78 points, Nasdaq futures down 8 points, and S&P futures up5 points. Asian markets ended mixed overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 1.09%, up 0.01%.
Currency Desk:
Eurodollar: 1.21
UK Pound: 1.36
Crude Oil:
WTI crude oil futures oil at $52.70/barrel, down 0.40%.
On the Earnings Calendar:
None.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets were mixed Japan (Nikkei 225) up 0.85%, Shanghai down 0.91%, Hong Kong (Hang Seng) up 0.93%.
Major European markets ended mildly higher. German (DAX) up 0.35%, France CAC 40 up 0.33%, London FTSE 100 up 0.84%.
Market And Sector Dynamics
Markets opened solidly higher, with the Dow up 112 points, Nasdaq gained 38 points, and the S&P up 7 points.WTI crude oil off to a lower start at $52.65/barrel, down 0.46%, and the US 10 Year Bond hovering at 1.093%.
After opening moderately higher stock remained at those levels for most of the morning session, but slowly lost momentum during the last two hours of trading, to close at the intraday low.
In today's mild selloff, seven of the eleven S&P sectors ended the session with modest losses, led by Technology, Communication Services, Consumer Discretionary, Consumer Staples, Healthcare, Basic Materials, and Utilities. Energy, Real Estate, Financials, and Industrials were higher.
Factors Influencing Today's Market
This week's Initial Jobless Claims shows 965K new claims for unemployment benefits. This was more than the 790 claims estimate.
US 10 Year Bond Yield ended the day at 1.129%, up 3.44%.
WTI crude oil closed at $53.57/barrel, up 1.25%.
Asian markets ended mixed, while European markets finished with modest gains..
Market Close Volume Traded And Advance Decline Ratio
Stocks ended today's trading mildly negative. The Dow fell 68.95 points, Nasdaq lost 16.31 points, and the S&P lost 14.30 points. Total NYSE volume traded, a moderate 5.22 billion shares. Advancing shares outpaced Declining shares by 2.27:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
Comments