Thursday's Market Recap - Technology Led Stocks Higher As Jobless Claims Was Better Than Expected.
What is The Premarket Telling Us?
7.30 AM.
Futures are moderately positive with Dow futures up 80 points, Nasdaq futures up 90 points, and S&Pup 15 points. Asian markets ended mixed overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 1.04%, up 0.08%.
Currency Desk:
Eurodollar: 1.23
UK Pound: 1.36
Crude Oil:
WTI crude oil futures at $50.77/barrel, up 0.28%
On the Earnings Calendar:
None
In M&A News:
None
What About The Asian And European Markets?
Major Asian markets closed mixed. Japan (Nikkei 225) up 1.60%, Shanghai up 0.71%, Hong Kong (Hang Seng) down 0.52%
Major European markets ended higher. German (DAX) up 0.55%, France CAC 40 up 0.70%, London FTSE 100 up 0.22%
Market And Sector Dynamics
Markets opened the trading session nicely higher. Ten minutes after the open the Dow was up 130 points, Nasdaq jumped 145 points, and the S&P gained 28 points. WTI crude oil was modestly up at $50.71/barrel, up 0.81%, with the US 10 Year Bond at 1.074%.
Stocks gapped higher half an hour after the open reaching with the Dow up 350 points around 10.00 AM. Markets lost a little momentum a short while later, but remained solidly elevated for the remainder of the session and into the close.
Today's rally saw nine of the eleven S&P sectors closing the session with gains, led by Technology, Consumer Discretionary, Energy, Financials, Communication Services, Healthcare, Basic Materials, Industrials, and Real Estate. Utilities and Consumer Staples.
Factors Influencing Today's Market
This week's Initial Jobless Claims report shows 783K new claims for unemployment benefits vs the 803K expected.
Technology stocks outperformed the markets today.
US 10 Year Bond closed at 1.081%, up 4.07%.
WTI crude oil closed at $50.83/barrel, up 0.40%.
Asian stocks ended mixed but European stocks were higher.
Market Close Volume Traded And Advance Decline Ratio
At the end of trading today the three major indexes were higher. The Dow gained 211.73 points, Nasdaq gained soared 326.69 points, S&P gained 55.65 points. Total NYSE volume traded, a moderate 5.14 billion shares.
Advancing shares outpaced Declining shares by 1.58:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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