Thursday's Market Recap - Stocks Ended Mixed As Disney Weighs Negatively On Dow.
- cashtonsaunders
- Nov 11, 2021
- 2 min read
What is The Premarket Telling Us?
Thursday November 11, 2021 at 6:30 AM.
Stock futures were modest higher early in the premarket indicating a mildly positive open for the Veterans Day Holiday. Banks were closed, so was the bond markets. Dow futures were up 32 points, Nasdaq up 95 points, and the S&P added 15 points. Asian markets were solidly higher in their session.
On The Bond Desk:
The US 10 Year Bond Yield at 1.560%, up 0.128%.
Currency Desk:
Eurodollar: 1.14
UK Pound: 1.33
Crude Oil:
WTI crude oil futures at $80.62/barrel, down 0.89%.
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 solid gains overnight. Japan (Nikkei 225) up 0.59%, Shanghai up 1.15%, Hong Kong (Hang Seng) up 1.01%.
Major European markets also closed higher. German (DAX) up 0.10%, France CAC 40 up 0.20%, London FTSE 100 up 0.60%
Market And Sector Dynamics
US stocks opened the trading session mildly mixed. The Dow fell 4 points, Nasdaq gained 129 points, and S&P was up 14 points. WTI crude oil got off to a positive start, and the US 10 Year Bond ticked higher.
Inflation fears continued to drive markets today, after that strong read on October CPI yesterday. The Dow bore the brunt of the pressure during the session, as Disney's quarterly earnings disappointed investors, sending share of the company tumbling lower to the tune of 100 down points.
The Nasdaq and the S&P managed to hold on in positive territory for the entire session
In today's session six of the eleven S&P sectors ended the day with gains, led by, Basic Materials, Technology, Energy, Financials, Real Estate, and Consumer Staples. Utilities, Communication Services, Industrials, Consumer Discretionary, and Healthcare finished lower.
Factors Influencing Today's Market
Shares of Disney fell in today's session after the company's earnings report disappointed investors.
Asian markets ended their day solidly higher ahead of the opening of our markets. Markets in Europe all ended higher.
WTI crude oil ended slightly higher in today's trading at $81.49/barrel, up 0.31%.
Market Close Volume Traded And Advance Decline Ratio
The major US indexes ended mixed today. The Dow sank 158.71 points, Nasdaq gained 81.58 points, and the S&P added 2.56 points. Total NYSE volume traded, a light 3.94 billion shares. Advancing shares outpaced Declining shares by 1.31:1
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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