Thursday's Market Recap - Stocks Shrugged Off Mixed US Data To Rally Higher On The Day.
- cashtonsaunders
- Oct 28, 2021
- 2 min read
What is The Premarket Telling Us?
Thursday, October 28 2021 7:50 AM.
Stock futures were modestly higher early, with Dow futures up 59 points, Nasdaq futures up 92 points, and S&P futures up 13 points. Asian markets traded lower today.
On The Bond Desk:
The US 10 Year Bond Yield at 1.529%, down 0.09%.
Currency Desk:
Eurodollar: 1.15
UK Pound: 1.37
Crude Oil:
WTI crude oil futures at at $81.10/barrel, down 1.89%.
On the Earnings Calendar:
None to report
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets traded lower on Thursday. Japan (Nikkei 225) down 0.96%, Shanghai down 1.23 %, Hong Kong (Hang Seng) down 0.36%
Major European markets closed mixed. German (DAX) down 0.06%, France CAC 40 up 0.75%, London FTSE 100 down 0.05%
Market And Sector Dynamics
Stock opened the trading day solidly higher. The Dow rose 129 points, Nasdaq gained 78 points, and S&P rose 21 points. WTI crude started off lower at $82.17/barrel, down 0.59%, while the US 10 Year Bond hovered at 1.54%, up 1.10 basis points.
Markets soared from start to finish today, with the Dow ended at the the intraday high. Investor shrugged off mixed US economic data. Third quarter GDP expanded a mere 2% vs the 2.6% expected, while weekly jobless claims came in at another pandemic low 281,000 compared to the 290,000 for the prior week, and moving in the right direction.
In today's session all eleven S&P sectors closed higher, led by Real Estate, Consumer Discretionary, Industrials, Financials, Technology, Basic Materials, Healthcare, Energy, Utilities, Consumer Staples, and Communication Services.
Factors Influencing Today's Market
Third quarter GDP came in a lower than expected 2%, vs 2.6% expected.
This week's Initial Jobless Claims came in at a lower than expected 281,000 vs 290,000 for the prior week.
US 10 Year Bond Yield closed today at 1.578%, up 1.81%.
WTI crude oil closed at $83.57/barrel, up 0.92%.
Asian markets ended lower, while European markets ended mixed.
Market Close Volume Traded And Advance Decline Ratio
When trading ended for the day the Dow was up 239.79 points, Nasdaq soared 212.28 points, and the S&P 44.74 points. Total NYSE volume traded, a light 4.13 billion shares. Advancing shares outpaced Declining shares by 2.28:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
Commentaires