Thursday's Market Tear Sheet - Mixed US Economic Data Sends Stocks Lower.
- cashtonsaunders
- Sep 15, 2022
- 2 min read
What is The Premarket Telling Us?
Thursday, September 15, 2022, 6:42 AM.
Futures were modestly lower early. Dow futures were down 67 points, Nasdaq futures down 57 points, and S&P futures down 12 points. Major Asian markets were mixed.
On The Bond Desk:
The US 10-Year Bond Yield
Currency Desk:
Eurodollar: 0.998
UK Pound: 1.15
Crude Oil:
WTI crude oil futures at 3.412%, down 0.01%.
On the Earnings Calendar:
None to report
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets were mixed. Japan (Nikkei 225) is up 0.21%, Shanghai down1.16%, Hong Kong (Hang Seng) up 0.44%.
Major European markets. German (DAX) down 0.55%, France CAC 40 down 1.04%, London FTSE 100 up 0.07%.
Market And Sector Dynamics
US stocks opened the trading day lower on Thursday with the Dow down 59 points, Nasdaq down 78 points, and S&P down 17 points. WTI opened for trading at $88.91/barrel, up 0.49%, and the US 10 Year Bond was at 3.402%, down 0.02%.
Except for two brief moments, one shortly after the open, and the other in the mid-afternoon, stocks remained in the red for the entire trading session. Jobless claims came in weaker than expected today, by retail sales came in hot.
Nine of the eleven S&P sectors ended the day with losses, led by Energy, Basic Materials, Industrials, Financials, Consumer Discretionary, Communication Services, Technology, Utilities, and Healthcare.
Factors Influencing Today's Market
This week's Initial Jobless Claims showed 213,000 new claims for unemployment benefits, 5,000 less than expected.
August Retail Sales came in hotter than expected, up 0.3% vs the neutral level expected.
US 10 Year Bond Yield ended today at 3.449%, up 1.31%.
WTI crude oil price closed at $85.10/barrel, down 3.82%.
Market Close Volume Traded And Advance Decline Ratio
When trading ended on Thursday, the Dow was down 173.27 points, Nasdaq was down 167.32 points, and the S&P lost 44.66 points. Total NYSE volume traded was a light 3.38 billion shares. Declining shares outpaced Advancing shares 2.72:1
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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