Thursday's Market Recap - The Bulls Took Charge Of Markets Today Sending Stocks Higher.

What is The Premarket Telling Us?

May 13, 2021, 8:27 AM.

Modestly higher describes the state of US stock futures at this hour. Dow futures are up 14 points, Nasdaq up 73 points, and S&P futures up 11 points.

On The Bond Desk:

The US 10 Year Bond Yield at 1.690%, unchanged.

Currency Desk:

Eurodollar:1.20

UK Pound: 1.40

Crude Oil:

WTI crude oil futures at $64.72/barrel, down 2.06%..

On the Earnings Calendar:

None to report

In M&A News:

None to report

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What About The Asian And European Markets?

Major Asian markets closed lower. Japan (Nikkei 225) down 2.49%, Shanghai fell 0.96%, Hong Kong (Hang Seng) up down 1.81%

Major European markets . German (DAX) up 0.33%, France CAC 40 up 0.14%, London FTSE 100 down 0.59%.

Market And Sector Dynamics

Stocks opened moderately higher with the Dow up 64 points, Nasdaq gained 132 points, and S&P gained 21 points. WTI crude oil fell at the outset to $64.14/barrel, down 2.94%, and the 10 Year Bond fell 2.30 basis points, to 1.68%.

Markets soared even higher after the open, the Dow hitting a high of 570 points, during the morning session. Market pulled back slightly during the mid-afternoon, but soared higher again, the Dow up near 600 points, before pulling back slightly into the close.

In today's rally, ten of the eleven S&P sectors closed in positive territory, led by Industrials, Financials, Utilities, Basic Materials, Consumer Staples, Technology, Real Estate, Healthcare, Communication Services, and Consumer Discretionary. Only the Energy sector ended lower.

Factors Influencing Today's Market

• Final read on April's PPI came in at 0.6% vs 0.3% consensus estimate.

• This week's Initial Jobless Claims came in at 473,000 slightly less than consensus 475,000 estimated.

• The US 10 Year Bond ended today at 1.659%, down 2.03%.

• WTI crude oil price ended the day at $63.82/barrel, down 3.42%.

Market Close Volume Traded And Advance Decline Ratio

When trading ended, all the major indexes were sharply higher. The Dow soared 433.79 points, Nasdaq gained 93.31 points, and the S&P added 49.46 points. Total NYSE volume traded, a moderate 4.81 billion shares. Advancing shares outpaced Declining shares slightly better than 2:1.

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Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.