Tuesday's Market Recap - Optimism For A Break-Through In The Russia Ukraine War Sent Stocks Higher.
- cashtonsaunders
- Mar 30, 2022
- 2 min read
What is The Premarket Telling Us?
Tuesday, March 29, 2022, 7:00 AM.
US stock futures were moderately positive at the seven o clock hour. Dow futures up 144 points, Nasdaq futures up 50 points, S&P up 18 points. Major Asian markets were mixed overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 2.477%, down 0.015%.
Currency Desk:
Eurodollar: 1.10
UK Pound: 1.30
Crude Oil:
WTI crude oil futures at $107.30/barrel, up 1.26%.
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) up 1.10%, Shanghai down 0.33%, Hong Kong (Hang Seng) up 0.95%.
Major European markets closed solidly higher. German (DAX) up 2.79%, France CAC 40 up 3.08%, London FTSE 100 up 0.86%.
Market And Sector Dynamics
US stocks headed higher at the opening bell with the Dow up 376 points, Nasdaq gained 166 points, and S&P gained 44 points. WTI crude oil got off to a lower start, at $100.16/barrel, down 5.47%, and the US 10 Year Bond ticked down to 2.427%, lower by 5 basis points.
Markets rallied today mainly on optimism that a cease-fire deal may be possible in current negotiations between Ukraine and Russia. Stocks remained elevated for the entire session. After moderating somewhat in the afternoon session, stocks roared back to close at near the high of the session.
Market tone was decidedly positive today with ten of the eleven S&P sectors closing the session with gains, led by Real Estate, Technology, Consumer Discretionary, Communication Services, Consumer Staples, Utilities, Industrials, Basic Materials, and Healthcare. Energy was the only sector that ended lower.
Factors Influencing Today's Market
Optimism about a possible cease-fire in Ukraine was a positive catalyst for markets today.
Asian and European markets were mostly higher in their sessions.
US 10 Year Bond Yield closed today at 2.398%, down 2.75%.
WTI crude oil price closed at $106.06/barrel, up 0.09%.
February's JOLTS report showed job openings grew to 11.266 million jobs vs 11.100 million jobs expected.
Market Close Volume Traded And Advance Decline Ratio
The US Benchmark indexes closed with gains today. The Dow gained 338.30 points, Nasdaq gained 264.73 points, and S&P gained 56.08 points. Total NYSE volume traded was a modest 5.08 billion shares. Advancing shares outpaced Declining shares by 4.28:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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