Tuesday's Market Recap - Another Selloff In US Stocks While Asia And European Stocks Rally.
- Mar 30, 2021
- 2 min read
What is The Premarket Telling Us?
8:51 AM.
Stock futures are moderately lower at this hour, suggesting markets could be lower at the open. Dow futures down 53 points, Nasdaq futures down 97 points, and S&P futures down16 points. Asian market closed higher overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 1.758%, up 0.037 basis points.
Currency Desk:
Eurodollar: 1.172
UK Pound: 1.37
Crude Oil:
WTI crude oil futures at $60.59/barrel, up 0.97.
On the Earnings Calendar:
Lululemon report quarterly earning after the closing bell today.
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets ended higher today. Japan (Nikkei 225) up .016%, Shanghai up 0.62%, Hong Kong (Hang Seng) %.
Major European markets also ended the day higher. German (DAX) up 1.29%, France CAC 40 up 1.21%, London FTSE 100 up 0.53%.
Market And Sector Dynamics
Markets got off to a slower start, with all three major indexes down. The Dow down 45 points, Nasdaq down 50 points, and the S&P slipped 8 points. WTI crude oil started off at $60.42/barrel, while the US 10 Year Bond started off the day at 1.713%.
The Dow fell even lower after the opening bell, and remained very choppy for most of the morning session, with the Dow down 165 points, around 12:30 PM. Stocks regained most of the losses during the rest of the afternoon session, before sliding lower again into the closing bell.
In today's moderate selloff, eight of the eleven S&P sectors closed the session with modest losses, led by Consumer Staples, Technology, Utilities, Healthcare, Energy, Financials, Real Estate, Basic Materials, and Communication Services. Consumer Discretionary, Financials, and Industrials, ended lower in the session.
Factors Influencing Today's Market
Asian markets ended their session with gains.
The US 10 Year Bond YIeld closed slightly lower at 1.710% down 0.71%.
WTI crude oil fell moderately today to $60.30/barrel, down 2.05%.
March's Consumer Confidence came in better than expected at 109.70 vs 96.0
Market Close Volume Traded And Advance Decline Ratio
When trading ended for the day, all the major indexes were lower. The Dow lost 104.41 points, Nasdaq fell 14.25 points, and the S&P fell 12.54 points. Total NYSE volume traded, a modest 4.10 billion shares.
Advancing shares outpaced Declining shares by 1.67:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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