Thursday's Market Recap - Another Day Of Steep Losses In US Markets.

What is The Premarket Telling Us?

January 21, 2022, 8:15 AM.

Stock futures were triple-digit higher in the premarket, with Dow futures up 135 points, Nasdaq futures up 129 points and S&P futures up 23 points. Asian markets ended lower mixed in their session.

On The Bond Desk:

The US 10 Year Bond Yield at 1.827%, down 0.021%.

Currency Desk:

Eurodollar: 1.13

UK Pound: 1.36

Crude Oil:

WTI crude oil futures at $85.34/barrel. down 0.54%.

On the Earnings Calendar:

None to report

In M&A News:

None to report.

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What About The Asian And European Markets?

Major Asian markets ended mixed. Japan (Nikkei 225) up 1.11%, Shanghai down 0.09 %, Hong Kong (Hang Seng) gained 3.27%.

Major European markets ended mixed. German (DAX) up 0.65%, France CAC 40 up 0.30%, London FTSE 100 down 0.06%.

Market And Sector Dynamics

Markets opened in solidly positive territory this morning, with the Dow up 136 points, Nasdaq up 152 points, and S&P up 26 points. WTI crude oil started the day at $86.74/barrel, down 0.25%, and the US 10 Year Bond Yield hovered at 1.8250%, down 0.2 basis points.

Stocks remained elevated for most of today's session before they gradually turned lower later in the afternoon session, as investors took profits into the close. At the high of the session, the Dow was up more than 450 points, shortly after 11:00 AM.

In today's late-day selloff, ten of the eleven S&P sectors ended the day with losses, led by Consumer Staples, Basic Materials, Technology, Industrials, Communication Services, Real Estate, Energy, Consumer Staples, Financials, and Healthcare. Utilities were modestly higher.

Factors Influencing Today's Market

• Stocks again turned lower intraday after being up more than 450 points earlier in the session.

• Last week's Initial Jobless Claim showed 286,000 American applied for new Unemployment Benefits vs 207,000 expected.

• US 10 Year Bond ended today at 1.793%, down 3.27%.

• WTI crude oil closed today at $84.09/barrel, down 3.30%.

• Last week's EIA Petroleum Status Report showed US crude oil inventories grew/increased 0.5 million barrels vs - 4.6 million barrels in the prior week.

Market Close Volume Traded And Advance Decline Ratio

After a decidedly positive start to the trading day, stocks turned around intraday to finish lower. The Dow sank 313.26 points, Nasdaq down 186.23 points, and the S&P fell 50.03%. Total NYSE volume traded, a moderate 4.63 billion shares. Declining shares outpaced Advancing shares by 2.93:1.

Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.