Tuesday's Market Recap - A Positive Session For The Bulls.
- cashtonsaunders
- Mar 22, 2022
- 2 min read
What is The Premarket Telling Us?
Tuesday, March 22, 2022, 7:00 AM.
US stock futures were moderately higher ninety minutes before markets opened. Dow futures were up 169 points, Nasdaq futures up 46 points, and S&P futures up 16 points.
On The Bond Desk:
The US 10 Year Bond Yield was flat at 2.315%.
Currency Desk:
Eurodollar: 1.10
UK Pound: 1.32
Crude Oil:
WTI crude oil futures at $111.50/barrel, down 0.55%.
On the Earnings Calendar:
None to report
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets closed higher. Japan (Nikkei 225) up 1.48%, Shanghai up 0.19%, Hong Kong (Hang Seng) up 3.15%.
Major European markets closed higher. German (DAX) up 1.02%, France CAC 40 up 1.17%, London FTSE 100 up 0.46%.
Market And Sector Dynamics
Markets got off to a positive start today, with the Dow up 194 points, Nasdaq up 22 points, and the S&P up 15 points. WTI crude oil was slightly higher at $112.44/barrel, up 0.29%, and the US 10 Year Bond hovered at 2.372%, up 5.7 basis points.
Stocks remained at elevated levels for the entire session, seeming to ignore hawkish comments from Fed Chair Powell, two days ago. WTI crude oil price rose 6% in today's trading to $112/barrel. Adding further positive sentiment to the markets was news that Tesla opened its first Giga Factory in Berlin, Germany, and delivered its first 30 Model Y EVs from that plant. Also, today, Robinhood launched a debit card, with Crypto capabilities.
Market tone was decidedly positive, across the board with ten of the eleven S&P sectors finishing the session with gains, led by Consumer Discretionary, Communication Services, Technology, Consumer Staples, Industrials, Basic Materials, Utilities, Real Estate, and Healthcare. Energy finished modestly lower.
Factors Influencing Today's Market
Investors were mostly in a risk-on mood in today's session.
Major Asian and European markets ended higher today.
US 10 Year Bond ended today at 2.381%, up 3.65%.
WTI crude oil price ended closed today at $111.76/barrel, down 0.32%.
Tesla opened its new GigaFactory in Berlin, Germany today and delivered 30 Model Ys.
Robinhood launches a debit card with crypto capabilities.
Market Close Volume Traded And Advance Decline Ratio
When trading ended today, the three major US indexes were higher. The Dow gained 254.47 points, Nasdaq gained 270.36 points, and the S&P rose 50.43 points. Total NYSE volume traded was a modest 4.76 billion shares. Advancing shares outpaced Declining shares by 1.59:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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