Thursday's Market Recap - Modest Gains For The Stocks With The S&P At A New Record High.
- Jun 10, 2021
- 2 min read
What is The Premarket Telling Us?
June 10, 2021 7:30 AM.
US stock futures are mixed at this hour, with Dow futures up 72 points, Nasdaq futures down 30 points, and S&P up 3 points. Asian markets ended mixed in their session.
On The Bond Desk:
The US 10 Year Bond Yield at 1.501%, up 1.2 basis points.
Currency Desk:
Eurodollar: 1.21
UK Pound: 1.41
Crude Oil:
WTI crude oil futures at $70.12/barrel, up 0.23%.
On the Earnings Calendar:
None to report
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets closed mixed. Japan (Nikkei 225) up 0.34%, Shanghai up .054%, Hong Kong (Hang Seng) down 0.01%.
Major European markets were also mixed. German (DAX) down 0.06%, France CAC 40 down 0.26%, London FTSE 100 up 0.10%.
Market And Sector Dynamics
Markets opened the trading session solidly higher, with the Dow up 192 points, Nasdaq up 28 points, and the S&P up 16 points. WTI crude oil opened at $69.72/barrel, down $0.24, and the US 10 Year Bond held at 1.489%, down 3 basis points. Stocks soared higher after the open with the Dow up nearly 250 points a few minutes after the opening bell. A new order for Boeing 737 MAX jets from United Airlines sent share of Boeing and the Dow higher. A better than expected initial jobless claims report showed 376,000 new claims for unemployment, which was lower than the 385,000 claims for the prior week, which also provided positive sentiment to markets.
May's Consumer Price Index (CPI) came in better than expected, a solid 0.6%, vs 0.4% consensus estimate, but less than the 0.8% reading for April.
The Market sold off midway through the morning session, with the Dow up only 18 points around 11:00 AM, before making a moderate recovery, and managed to hold on to those gain for most of the remaining session, before losing steam shortly before the closed.
Seven of the eleven S&P sectors ended with gains in today's session, led by Healthcare, Real Estate, Technology, Communication Services, Consumer Discretionary, Utilities, and Consumer Staples. Financials, Basic Materials, Industrials, and Energy finished lower.
Factors Influencing Today's Market
Boeing and United in negotiations for massive order of 737- MAX jets.
This week's Initial Jobless Claims report shows 376,000 new claims for unemployment benefits.
May's Consumer Price Index came in at 0.6% vs 0.4% estimated.
Asian and European markets ended mixed in today's system.
US 10 Year Bond Yield closed today at 1.437%, down 3.72%.
WTI crude oil closed at $70.15/barrel, up 0.27%.
Market Close Volume Traded And Advance Decline Ratio
Markets were modestly higher at the end of trading today. The Dow gained 19.10 points, Nasdaq gained 108.58 points, and the S&P gained 19.63 points (a new record high). Total NYSE volume traded, a modest 4.46 billion shares. Advancing shares outpaced Declining shares by 1.13:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
Comments