Tuesday's Market Recap - Investor Recorded A Second Day Of Sharp Gains Today.
What is The Premarket Telling Us?
It's election day in America, and US stock futures are sharply higher at this hour. Dow futures are up 436 points, Nasdaq futures up 61 points, and S&P futures up up 41 points.
On The Bond Desk:
The US 10 Year Bond Yield at 0.85%, unchanged since the last close.
Currency Desk:
Euro dollar: 1.16
UK Pound: 1.29
Crude Oil:
WTI crude oil futures at $38.08/barrel, up 3.45%.
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 all higher overnight. Japan (Nikkei 225) closed for holiday, Shanghai gained 1.42%, Hong Kong (Hang Seng) up 1.96%.
Major European markets also soared today. German (DAX) gained 2.55%, France CAC 40 up 2.44%, London FTSE 100 up 2.33%.
Market And Sector Dynamics
Markets open strong to the upside this morning, with the Dow up 330 points. Nasdaq up 80 points, and the S&P up 32 points. WTI crude oil is also nicely higher, up $38.13/barrel, up 3.42%, and the US 10 Year Bond at .881%.
Asian markets started the ball rolling while we slept, and Europe pick up this morning before we opened, for this election day session. Global markets seems to be anticipating a Biden election victory this evening.
Shortly after 10:00 AM, the Dow soared 700 points and remained at or near those elevated levels for most of the session, to end slightly off the high of the day.
Ten of the eleven S&P sectors closed the today in positive territory, led by Industrials, Financials, Consumer Discretionary, Technology, Consumer Staples, Basic Materials, Real Estate, Utilities, Healthcare, and Communication Services. Energy was modestly lower.
Factors Influencing Today's Market
Market globally were in risk on mode in today's session.
Asian and European markets finished solidly higher.
US 10 Year Bond Yield closed at 0.896%, up 5.18%.
WTI crude oil closed today at $38.11/barrel, up 3.53%.
Market Close Volume Traded And Advance Decline Ratio
At the end of the session the major indexed finished sharply higher. The Dow skyrocketed 554.98 points, Nasdaq soared 202.96 points, and the S&P rose 58.78 points. Total NYSE volume traded, a moderate 4.24 billion shares. Advancing shares outpaced Declining shares by 4.24:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance. Wall Street Journal - Market Diary.
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