Thursday's Market Recap - Market Recorded Another Day Of Gains On Vaccine And Stimulus Optimism.
- Dec 3, 2020
- 2 min read
What is The Premarket Telling Us?
7:15 AM.
US stock futures are mostly flat, with Dow futures down 17 points, Nasdaq futures up 25 points, and S&P futures down 1 point. Asian markets closed with modest gains.
On The Bond Desk:
The US 10 Year Bond Yield at 0.95%, up 0.02%.
Currency Desk:
Eurodollar: 1.21
UK Pound: 1.31
Crude Oil:
WTI crude oil futures at $44.83/barrel, down 0.99%.
On the Earnings Calendar:
None to report.
In M&A News:
None to report.
What About The Asian And European Markets?
Major Asian markets were mostly lower. Japan (Nikkei 225) up 0.03%, Shanghai down 0.21%, Hong Kong (Hang Seng) up 0.63%.
Major European markets closed mixed. German (DAX) down 0.45%, France CAC 40 down 0.15%, London FTSE 100 up 0.42%
Market And Sector Dynamics
Stocks opened the trading session modestly higher with the Dow up 80 points, Nasdaq up 36 points, and S&P up 2 points. WTI crude oil started off lower at $45.03/barrel, down0.57%, and the US 10 Year Bond Yield at 0.921%. Shares of Boeing are higher, early, as the company has booked additional orders from Ryanair, with deliveries scheduled to begin fairly shortly. Renewed talk of fiscal stimulus is also helping markets today, as both Democrats, Republicans, economists, and others all agree that fiscal stimulus help is definitely needed, to help individuals, small businesses, and States, reeling from the impact of this pandemic.
Stocks remained elevated for the entire session, with Dow up 245 points, the high of the day late in the session. Markets gave back some of those gains shortly before the close of trading.
Six of eleven S&P sectors closed with modest gains, led by Energy, Real Estate, Industrials, Consumer Discretionary, Consumer Staples. Utilities, Basic Materials, Communication Services, Healthcare, and Technology were modestly lower in the session.
Factors Influencing Today's Market
The possibility for additional fiscal stimulus seeming more likely.
Boeing received a new order from Ryanair, Europe's largest discount airline.
This week's Initial Jobless Claims shows 722,000 Americans applied for new unemployment benefits.
Asian and European markets were mostly lower today.
US 10 Year Bond Yield closed at 0.911%, down 2.82%.
WTI crude oil closed at 45.64/barrel, up 0.80%.
Market Close Volume Traded And Advance Decline Ratio
Markets ended the day mixed. The Dow gained 85.73 points, Nasdaq gained 27.82 points, and the S&P slipped 2.29 points. Total NYSE volume traded, a moderate 5.05 billion shares. Advancing shares outpaced Declining shares by 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance. Wall Street Journal - Market Diary.
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