Tuesday's Market Recap: A Strong February JOLTS Job Number Says Corporation Are Ready To Hire.
- Apr 6, 2021
- 2 min read
What is The Premarket Telling Us?
8:30 AM.
Stock futures are mostly flat an hour before the opening bell. Dow futures are down 39 points, Nasdaq futures are up a fraction - 0.75 point, and S&P futures down 5 points. Asian markets ended mixed overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 1.720%, up 0.05%
Currency Desk:
Eurodollar:1.18
UK Pound: 1.38
Crude Oil:
WTI crude oil futures at $59.66/barrel, up 1.72%.
On the Earnings Calendar:
None to report
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets ended mixed Japan (Nikkei 225) down 1.30%, Shanghai down 0.04%, Hong Kong (Hang Seng) up 1.97%.
Major European markets ended with gains. German (DAX) gained 0.70%, France CAC 40 up 0.47%, London FTSE 100 gained 1.28%.
Market And Sector Dynamics
Markets opened today's session mildly lower, with the Dow down 73 points, Nasdaq down 23 points, and the S&P down 7 points. WTI got off to a moderately higher start at $60.07/barrel, up 2.40%, while the 10 Year Bond retreated to the 1.688% range. The markets are off to a lower start for the first time in three days.
Except for a brief moment an hour after the opening bell, the Dow traded below the flat line for the entire trading session. Markets came under pressure from shares of technology, and healthcare companies, as well as a better than expected US JOLTS report which added 268,000 job openings, to a two year high of 7.4 million jobs, confirming that as the economy continues to open up, corporations are willing to increase their workforce.l
Despite the mild selloff in today's session, six of the eleven S&P sectors finished modestly higher, led by Utilities, Consumer Discretionary, Consumer Staples, Basic Materials, Real Estate, Communication Services. Technology, Healthcare, Industrials, Energy, and Financials ended the day lower.
Factors Influencing Today's Market
February's JOLTS reports grew to 7.36 million jobs, an increase of 278,000 over the prior month.
Asian markets ended mixed, and European markets ended with gains.
US 10 Year Bond Yield closed today at 1.658%, down 2.91%.
WTI crude oil ended the day at $59.28/barrel, up 1.07%.
Market Close Volume Traded And Advance Decline Ratio
Markets ended modestly lower in today's session. The Dow fell 96.95 points, Nasdaq fell 7.20 points, and the S&P slipped 3.97 points. Total NYSE volume traded, a modest 4.05 billion shares. Declining shares outpaced Advancing shares by 1.04:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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