Thursday's Market Recap - The Dow Was Flat Today Weighed Down By IBM, But Nasdaq & S&P Rose.
- cashtonsaunders
- Oct 21, 2021
- 2 min read
What is The Premarket Telling Us?
Thursday October 21, 2021 @ 7:30 AM.
Moderately negative described the status of US stock futures this morning. Dow futures were down 104 points, Nasdaq futures down 34 points, and S&P futures down 12 points.
On The Bond Desk:
The US 10 Year Bond Yield at 1.636%, up 0.001%
Currency Desk:
Eurodollar: 1.16
UK Pound: 1.38
Crude Oil:
WTI crude oil futures at $82.86/barrel, down 0.67%.
On the Earnings Calendar:
IBM reported disappointing third quarter earning after the close of trading yesterday.
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets closed mixed. Japan (Nikkei 225) fell1.87%, Shanghai up 0.22%, Hong Kong (Hang Seng) down 0.45%.
Major European markets were all lower. German (DAX) fell 0.32%, France CAC 40 lost 0.29%, London FTSE 100 fell 0.45%.
Market And Sector Dynamics
Stocks got off to a mildly negative start. The Dow shed 43 points, Nasdaq down 7 points, and the S&P was down 4 points.
WTI crude oil was also down at the open, at $82.97/barrel, down 0.54%, and the US 10 Year Bond held at 1.656%, up 2.1 basis points.
While the Nasdaq and the S&P turned positive shortly after the start of trading, the Dow traded in negative territory for the entire trading session.
Shares of IBM was a large drag on the major index, after the company reported disappointing third quarter earnings results, which sent their share tumbling almost 10% at the close of trading.
Today's US initial jobless claims reported 290,000 new claims for unemployment benefits, slightly less than the 300,000 that was expected.
In today's session investors continued to assess the impact of higher inflation on the earnings of major corporation, fearing that would slow US economic growth.
Factors Influencing Today's Market
Shares of IBM was a major drag on the Dow today, after the company third quarter disappointed investors.
Asian markets ended mixed and European markets ended lower
290,000 new claims were filed for US unemployment benefits last week, which was less that the 300,000 anticipated.
US 10 Year Bond closed at 1.696%, up 2.14%.
WTI crude price closed at $82.50/barrel, down 1.63%
Market Close Volume Traded And Advance Decline Ratio
US stocks ended a mixed session today. The Dow slipped 6.26 points, Nasdaq gained up 94.02 points, and the S&P rose 13.59 points. Total NYSE volume traded, a light 3.82 billion shares. Declining shares outpaced Advancing shares by 1.12:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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