Thursday's Market Recap - Stocks Rallied From Start To Finish Today.
- cashtonsaunders
- Mar 24, 2022
- 2 min read
What is The Premarket Telling Us?
Thursday, March 24, 2022, 7:14 AM.
Stock futures headed higher this morning, as an emergency G-7 meeting convenes in Brussels, with President Biden and other world leaders attending. The leaders are meeting to discuss the ongoing Russia Ukraine war. Dow futures were up 126 points, Nasdaq futures up 77 points, and S&P futures up 21. Asian markets were mixed overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 2.321%, unchanged.
Currency Desk:
Eurodollar: 1.09
UK Pound: 1.31
Crude Oil:
WTI crude oil futures at 114.63/barrel, down 0.26%.
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 0.25%, Shanghai down 0.29%, Hong Kong (Hang Seng) down 1.03%.
Major European markets also finished the day mixed. German (DAX) down 0.07%, France CAC 40 down 0.39%, London FTSE 100 up 0.09%.
Market And Sector Dynamics
Stocks opened higher this morning, after yesterday's selloff. The Dow gained 100 points, Nasdaq gained 72 points, and the S&P gained 20 points. WTI crude oil got off to a mildly negative start, down 0.68%, to $114.15/barrel. The US 10 Year Bond ticked up to 2.385%, up 6.4%.
Stocks climbed from start to finish in today's session to close at the high of the day, with semiconductor chip stocks outperforming in the markets. Shares of Advanced Micro Devices (AMD), Nvidia (NVDA), and Intel (INTC) led the way
Today's market tone was markedly positive, with all eleven S&P sectors ending the day with gains, led by Technology, Basic Materials, Communication Services, Healthcare, Utilities, Financials, Industrials, Consumer Discretionary, Real Estate, Staples, and Energy.
Factors Influencing Today's Market
Last week's Initial Jobless Claims report was less than expected. It showed 187,000 new Americans file for unemployment benefits, compared to the 210,000 that was expected.
US 10 Year Bond Yield closed today at 2.370%, up 3.5%.
WTI crude oil closed today at $111.19/barrel, down 3.25%.
Market Close Volume Traded And Advance Decline Ratio
The markets rallied today, even as investors expressed uncertainty around the war in Ukraine, and talk speculations around what could happen if Russia chose to use chemical weapons. The Dow finished convincingly higher at 349.54 points, Nasdaq gained 269.23 points and the S&P gained 63.92 points. Total NYSE volume traded was a light 4.13 billion shares. Advancing shares outpaced Declining shares by 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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