Thursday's Market Recap - High Technology Growth Stocks Are On The Rebound.
- Apr 8, 2021
- 2 min read
What is The Premarket Telling Us?
8:31 AM.
US stock futures are moderately elevated at this hour. Dow futures up 7 points, Nasdaq futures up108 points, and S&P futures up 13 points. Asian markets ended mixed in their sessions.
On The Bond Desk:
The US 10 Year Bond Yield at 1.6530%, unchanged
Currency Desk:
Eurodollar:1.18
UK Pound: 1.37.
Crude Oil:
WTI crude oil futures at $59.59/barrel, down $0.18.
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 mixed. Japan (Nikkei 225) down 0.07%, Shanghai up 0.08%, Hong Kong (Hang Seng) up 1.19%.
Major European markets ended higher. German (DAX) up 0.17%, France CAC 40 up 0.57%, London FTSE 100 up 0.83%.
Market And Sector Dynamics
Markets opened the trading day mixed, with the Dow down 32 points, Nasdaq gained 125 points, and the S&P gained 13 points. WTI crude oil started off at $59.62/barrel, down $0.02. The US 10 Year Bond at 1.669%.
Markets traded lower for most of the morning session but recovered shortly after 12:00 noon, with the Dow narrowly back in positive territory, where it remained for the rest of the afternoon, and ticking higher into the close. Shares of technology companies appear to be back in favor, with Google, Apple, Tesla, Netflix, and Microsoft, and Amazon in full rally mode today. Investors are growing more confident that the Fed is serious about being on hold for a long time. The 10 Year Bond Yield has ticked lower today as well, while the Vix remains subdued.
Advancing and Declining shares were mostly balanced in today's session. Six of the eleven S&P sectors ended with gains led by Technology, Consumer Discretionary, Industrials, Basic Materials, Healthcare, and Consumer Staples. Energy, Real Estate, Utilities, Communication Services, and Financials ended the day with losses.
Factors Influencing Today's Market
Shares of major technology companies rallied again in today, reclaiming their leadership role.
This week's Initial Jobless Claims report shows 744K new claims for unemployment benefits vs 680K estimated.
Asian markets finished mixed, while European markets ended higher.
US 10 Year Bond Yield closed at 1.626%, down 3.16%
WTI crude oil closed mildly lower at $59.75/barrel, down 0.03%.
Market Close Volume Traded And Advance Decline Ratio
Markets rallied in today's session with the major indexes ending with gains. The Dow gained 57.31 points, Nasdaq gained 140.47 points, and the S&P gained 17.22 points. Total NYSE volume traded, a modest 3.91 million shares. Advancing shares outpaced Declining shares by 1.67:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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