Tuesday's Market Recap - Investors Enjoyed A Risk-On Session Today.
- cashtonsaunders
- Mar 15, 2022
- 2 min read
What is The Premarket Telling Us?
Tuesday, March 15, 2022, 7:24 AM.
US stock futures were modestly up early in the premarket trading session. Dow futures up 7 points, Nasdaq futures up 44 points, and S&P futures up 4.75 points. Overnight, major Asian markets were mostly lower.
On The Bond Desk:
The US 10 Year Bond Yield at 2.140%, up 0.136%.
Currency Desk:
Eurodollar: 1.09
UK Pound: 1.30
Crude Oil:
WTI crude oil futures at $93.89/barrel, down 8.85%.
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 lower Japan (Nikkei 225) fell 0.15%, Shanghai down 7.04%, Hong Kong (Hang Seng) down 5.72%.
Major European markets closed modestly lower. German (DAX) down 0.09%, France CAC 0.23%, London FTSE 100 down 0.25%.
Market And Sector Dynamics
Markets got off to a mixed start at the opening bell. The Dow gained 233 points, Nasdaq down 263 points, and the S&P rose 31 points. WTI crude oil fell below the one hundred level, to $96.24/barrel, down 6.57%, and the US 10 Year Bond hovered just above the two percent level, at 2.089%, down 5.1 basis points.
Stocks held in positive territory for the entire session today and gathered steady upward momentum as the session went on.
Intraday, the Dow was up more than 660 points, five minutes before the close. Investors were in a real risk-on mode.
Ten of the eleven S&P sectors ended the session solidly higher, led by Technology, Consumer Discretionary, Communication Services, Consumer Staples, Healthcare, Financials, Industrials, Utilities, Basic Materials, and Real Estate. Energy was down 3.72%.
Factors Influencing Today's Market
The Fed/FOMC began its March policy meeting today and is expected to announce a quarter-point interest rate hike tomorrow afternoon.
A hint of optimism in the Russia Ukraine war even as the hostilities rages on. Stocks rally.
US 10 Year Bond Yield closed at 2.149%, up 0.34%.
WTI crude oil price closed at $95.77/barrel, down 7.03%.
Final demand for February PPI rose 0.8%, and less than the 1.0% expected.
Market Close Volume Traded And Advance Decline Ratio
US markets roared higher in today's trading. At the close, the Dow was up 599.10 points, Nasdaq up 367.40 points, and the S&P gained 89.34 points. Total NYSE volume traded was a modest 5.34 billion shares. Advancing shares outpaced Declining shares by 2.14:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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