Thursday's Market Recap - Dow Down In Mixed Session.
- cashtonsaunders
- May 12, 2022
- 2 min read
What is The Premarket Telling Us?
Thursday, May 12, 2022, 7:00 AM.
Stock futures were mostly negative this morning with Dow futures down 108 points, Nasdaq futures down107 points, and S&P furures down19 points. Asian Pacific stocks ended lower in their session.
On The Bond Desk:
The US 10 Year Bond Yield at 2.921%, down 0.072%.
Currency Desk:
Eurodollar: 1.04
UK Pound: 1.22
Crude Oil:
WTI crude oil futures $104.37/barrel, down 1.27%.
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 with losses. Japan (Nikkei 225) down 1.77%, Shanghai down 0.12%, Hong Kong (Hang Seng) down 2.24%.
Major European markets traded lower. German (DAX) down 0.64%, France CAC 40 down 1.01%, London FTSE 100 down 1056%.
Market And Sector Dynamics
Markets opened moderately lower today, with the Dow down 135 points, Nasdaq down 165 points, and the S&P down 31 points. WTI opened at $106.63/barrel, and the US 10 Year Bond mildly lower at 2.911%.
Except for a brief tick during the morning session, stocks traded in negative territory for the entire trading session as fear of inflation, recession, as well as supply chain problems continued to spook investors. The war in Ukraine also remains foremost in investors' minds.
Six of the eleven S&P changes ended with gains today, led by Healthcare, Consumer Discretionary, Real Estate, Communication Services, Industrials, and Energy. Utilities, Technology, Financials, Basic Materials, and Consumer Staples were lower.
Factors Influencing Today's Market
Last week's Initial Jobless Claims came in at 203,000 slightly more than the 200,000 in March, and the 190,000 estimated.
April Producer Price Index (PPI) slowed to 0.5% vs strong 1.4% in March
Asian and European markets traded lower in their sessions today.
US 10 Year Bond Yield closed at 2.855%, down 2.38%.
WTI crude oil prices closed today at $106.13/barrel, up 0.40%.
Market Close Volume Traded And Advance Decline Ratio
Markets opened mixed to mostly lower today. The Dow lost 103.81 points, Nasdaq rose 6.73 points, and S&P fell 5.10 points. Total NYSE volume traded was a moderately heavy 6.30 billion shares. Advancing shares and Declining shares were basically even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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