Tuesday's Market Recap - Dow At Record High In Mixed Trading Session.
- Feb 16, 2021
- 2 min read
What is The Premarket Telling Us?
7:30 AM.
US stock futures are comfortable in the green at this hour, to begin the shortened trading week. Dow futures are up 187 points, Nasdaq up 68 points, and the S&P up 20 points. Asian markets ended nicely higher. Crude oil prices are soaring as snowstorms and dangerously cold weather conditions blanket most of the country.
Oil drilling and production facilities have been shut down in Texas and other areas, and electricity blackouts have been reported.
On The Bond Desk:
The US 10 Year Bond Yield at 1.20%, up 0.04%.
Currency Desk:
Eurodollar: 1.21
UK Pound: 1.39
Crude Oil:
WTI crude oil futures at $59.64/barrel, up 0.29%.
On the Earnings Calendar:
None to report
In M&A News:
Costar makes a new competing bid for Corelogic valued at $95.76/share.
What About The Asian And European Markets?
Major Asian markets ended sharply higher. Japan (Nikkei 225) gained 1.27%, Shanghai up 1.43%, Hong Kong (Hang Seng) up 1.90%.
Major European markets were mostly lower. German (DAX) down 0.32%, France CAC 40 flat %, London FTSE 100 down 0.28%.
Market And Sector Dynamics
Stocks open the trading session solidly higher, with the Dow gaining 135 points, Nasdaq up 68 points, and the S&P added 14 points. WTI crude oil started off at $59.92/barrel, up 0.72%, as the US10 Year ticks up to 1.267%, creating initial rumblings of potential inflation worries.
Markets traded higher, but choppy during the morning session, dipping briefly into negative territory, a few minutes after twelve noon. Markets recovered a short while later, trading in a narrow range comfortably above the flat line, to close comfortably higher.
Eight of the eleven S&P sectors closed today with modest losses, led by Utilities, Real Estate, Healthcare, Consumer Discretionary, Technology, Basic Materials, Consumer Staples, and Industrials.Energy, Financials, and Communication Services were closed with moderate gains.
Factors Influencing Today's Market
US 10 Year Bond Yield has continued to tick higher, and closed today at 1.311%, up 4.85%.
WTI crude oil closed at $60.14/barrel, up 0.08%.
Asian markets ended with gains in their session, Europe was mostly lower.
Market Close Volume Traded And Advance Decline Ratio
Stocks ended the day mixed, with the Dow up 64.35 points, Nasdaq fell 47.97 points, and the S&P down 2.24 points. Total NYSE volume traded, a heavy 5.10 billion shares. Declining shares outpaced Advancing shares by 1.51:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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