Thursday's Market Recap - Another Rocky Day For Markets As Investor Dump Stocks.

What is The Premarket Telling Us?

Thursday, January 13, 2022, 8:00 AM.

Stock index futures were modestly ninety minutes before the opening bell. Dow futures were up 62 points, Nasdaq futures up 18 points, and S&P futures up 5 points. Asian markets were mostly mixed.

On The Bond Desk:

The US 10 Year Bond Yield at 1.725%, down 0.0210%.

Currency Desk:

Eurodollar: 1.14

UK Pound: 1.37

Crude Oil:

WTI crude oil futures at $82.30/barrel, down 0.41%.

On the Earnings Calendar:

None to report

In M&A News:

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What About The Asian And European Markets?

Major Asian markets ended mixed. Japan (Nikkei 225) down 0.96%, Shanghai down 1.17%, Hong Kong (Hang Seng) gained 0.11%.

Major European markets ended mixed. German (DAX) up 0.13%, France CAC 40 down 0.50%, London FTSE 100 up 0.16%.

Market And Sector Dynamics

The major indexes started the trading day moderately higher. The Dow gained 160 points, Nasdaq up 50 points, and the S&P was up 13 points. Crude oil was slightly lower at $82.54/barrel, down0.12%, and the US 10 Year Bond Yield hovered at 1.732%, up 0.7 basis points.

Markets remained comfortably elevated until shortly after 12:00 noon, before turning precipitously lower early in the afternoon, and faded even lower into the close. Shares of high growth technology, consumer discretionary, and industrial companies sold off drastically.

Eight of the eleven S&P sectors ended the session in negative territory, led by Technology, Consumer Discretionary, Healthcare, Communication Servies, Basic Materials, Energy, Financials, and Real Estate. Utilities, Consumer Staples, and Industrials ended modestly higher.

Factors Influencing Today's Market

The final read for December PPI (Producer Price Index) rose 0.2% (MoM), and 9.7% (YoY).

Last week's Initial Jobless Claim showed 230,000 Americans filed new claims for unemployment benefits. This was more than the 205,000 estimated.

US 10 Year Bond Yield closed today at 1.701%, down 2.92%.

WTI crude oil ended trading today at $81.67/barrel, down 1.17%.

Market Close Volume Traded And Advance Decline Ratio

Markets took a drubbing today after investors sold off technology and other high-growth stocks. The Dow fell 176.70 points, Nasdaq plunged 381.58 points, and S&P lost 67.32 points, Total NYSE volume traded, a light 4.12 billion shares. Declining shares outpaced Advancing shares by 1.12:1.

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