Thursday's Market Recap - Stocks Recovered From Intraday Low To End With Modest Gains.
- cashtonsaunders
- Apr 7, 2022
- 2 min read
What is The Premarket Telling Us?
Thursday, April 7, 2022, 7:10 AM.
US stocks futures trended flat to slightly higher in the premarket. Dow futures were up 15 points, Nasdaq futures up 54 points, and S&P up 9 points. Asian markets ended lower in their sessions.
On The Bond Desk:
The US 10 Year Bond Yield was unchanged at 2.609%.
Currency Desk:
Eurodollar: 1.08
UK Pound: 1.30
Crude Oil:
WTI crude oil futures at $97.72/barrel, up 1.55%.
On the Earnings Calendar:
None to report
In M&A News:
Late yesterday afternoon markets learned that Warren Buffet's Berkshire Hathaway bought an 11.4% stake in HP, valued at $4.2 billion. Shares of the company soared higher.
What About The Asian And European Markets?
Major Asian markets ended lower Japan (Nikkei 225) down 1.59%, Shanghai down 1.49%, Hong Kong (Hang Seng) down 1.12%.
Major European markets closed modestly lower today. German (DAX) down 0.52%, France CAC 40 down 0.57 %, London FTSE 100 down 0.47%.
Market And Sector Dynamics
Markets started the trading day lower with the Dow down 89 points, Nasdaq down 315 points, and the S&P down 6 points. The US 10 Year Bond Yield climbed up to 2.6330%, up 2.4 basis points. WTI crude oil price also edged higher by 0.96%, to $97.15/barrel.
Stocks traded below the flat line for most of the session, before turning higher mid-afternoon and held on to some of those gains into the close. At the intraday low, the Dow was down more than 300 points, a little more than an hour after the opening bell.
Seven of the eleven S&P sectors ended with gains in today's trading, led by Healthcare, Energy, Consumer Staples, Basic Materials, Consumer Discretionary, Industrials, and Technology. Real Estate, Communication Services, Utilities, and Financials ended lower.
Factors Influencing Today's Market
Warren Buffet's Berkshire Hathaway buys an 11.2% stake in HP Enterprises, worth $4.2 billion.
Asian and European markets traded lower in their sessions today.
The Bureau of Labor Jobless Claims Report showed 166,000 new claims for unemployment benefits vs the 202,000 expected.
US 10 Year Bond Yield closed today at 2.665%, up 2.61%.
WTI crude oil closed at $96.03/barrel, modestly up 0.21%.
Market Close Volume Traded And Advance Decline Ratio
After trading in negative territory for most of the day, stocks recovered to end with modest gains. The Dow gained 87.06 points, Nasdaq added 8.48 points, and the S&P gained 19.06 points. Total NYSE volume traded was a light 4.81 billion shares. Declining shares outpaced Advancing shares just better than even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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