Thursday's Market Recap - Stocks Soar On Rising Boeing Shares And Slowing Initial Claims Number.
- Mar 11, 2021
- 2 min read
What is The Premarket Telling Us?
7:00 AM.
US stock futures are nicely higher with the Dow up 78 points, Nasdaq up 229 points, and S&P up 26 points. Asian markets ended mixed today. All eyes will be on the US 10 Year Yield again today.
Currency Desk.
Eurodollar: 1.19
UK Pound: 1.39
Crude Oil:
WTI crude oil futures at $66.00/barrel, up 0.87%.
On the Earnings Calendar:
None to report
In M&A News:
Coupang, the anser to Korean Amazon goes public at the NYSE today.
What About The Asian And European Markets?
Major Asian markets ended mixed. Japan (Nikkei 225) up 0.60%, Shanghai up 2.36%, Hong Kong (Hang Seng) down 1.65%.
Major European markets closed higher. German (DAX) up 0.20%, France CAC 40 up 0.72%, London FTSE 100 up 0.17%.
Market And Sector Dynamics
Markets opened sharply higher. The Dow climbed 112 points, Nasdaq soared 206 points, and the S&P rose 28 points. WTI crude oil jumped off to a positive start at $65.94/barrel, up 0.92%, while the US 10 Year Bond Yield hovered at 1.527%. Share of Boeing are surging, on positive new order flows, providing positive sentiment for the markets. This morning's Initial Jobless Claims came in better than expected 712K vs 725K consensus estimate.
Stocks continued to soar after the opening bell, with the Dow reaching a high of 350 points, around noon, and held at or near that level for most of the early afternoon, before giving back some of the gains in the last two
hours of trading.
Eight of the eleven S&P sectors ended the day higher, led by Technology, Communication Services, Consumer Discretionary, Real Estate, Healthcare, Basic Materials, Energy, and Industrials. Financials, Utilities, Consumer Staples.
Factors Influencing Today's Market
Shares of Boeing were on a roll today on positive net order flows, as more airline place orders for the improved 737- MAX.
This week's Initial Jobless Claims show 712K American filed for new unemployment benefits, slightly less than the 725K estimated.
Coupang, the Korean Amazon went public on the NYSE today
US 10 Year Bond closed today at 1.535%, up 0.92%.
WTI crude oil closed today at $66.02/barrel, up 2.45%.
Asian markets ended mixed, while European markets ended with gains.
Market Close Volume Traded And Advance Decline Ratio
When the markets closed on Thursday, the Dow gained 188.67 points, Nasdaq soared 329.84 points, and the S&P gained 40.53 points. Total NYSE volume traded, a moderate 5.37billion shares. Advancing shares outpaced Declining shares by 2.83.1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
Comments