Tuesday's Market Recap - Stocks Broke Its Impressive Winning Streak In Today's Session.
- cashtonsaunders
- Nov 9, 2021
- 2 min read
What is The Premarket Telling Us?
Tuesday November 9, 2021 7:43 AM.
Stock futures were mostly flat in the early going, suggesting mixed open. Dow futures were down 31 points, Nasdaq down 31 points, and S&P futures up 1 point. Asian market closed their session mixed overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 1.465% down 3.2 basis points.
Currency Desk:
Eurodollar: 1.15
UK Pound: 1.35
Crude Oil:
WTI crude oil futures at $82.49/barrel, up 0.68%.
On the Earnings Calendar:
Doordash report earning after the close of trading today.
In M&A News:
General Electric (GE) announced today that it will split into three separate organizations - Aviation, Energy, and Healthcare.
What About The Asian And European Markets?
Major Asian markets ended mixed in their session. Japan (Nikkei 225) down 0.75%, Shanghai up 0.24%, Hong Kong (Hang Seng) up 0.20%
Major European markets were mildly lower in their session. German (DAX) lost 0.04%, France CAC 40 down 0.06%, London FTSE 100 down 0.36%.
Market And Sector Dynamics
Markets were mixed at the start of Tuesday's trading, with the Dow down 45 points, Nasdaq up 24 points, and S&P was up 6 points. WTI crude oil opened mildly higher at $$82.46/barrel, up 0.65%, and the US 10 Year Bond Yield ticked lower to 1.448%, down 4.4 basis points.
A mixed earnings picture after the close of trading yesterday saw PayPal missing earning expectation, sending shares of the company lower, while, Roblox reported strong earnings performance and it shares have soared higher. Markets traded in negative territory for the entire session as investors contemplated their next move.
Final read on October Purchasing Managers Index (PMI) rose 0.6%, vs 0.5% estimated, and 8.6% year over year, which is a healthy read. At the same time US 10 Year Bond Yield headed lower.
Six of the eleven S&P sectors closed today's session with modest gains, led by Utilities, Basic Materials, Consumer Staples, Energy, Real Estate, and Industrials. Consumer Discretionary, Financials, Technology, Healthcare, and Communication Services were lower.
Factors Influencing Today's Market
Disappointing third quarter earnings results from PayPal.
Final read on October PMI rose 0.6% vs 0.5% in September.
US 10 Year Bond closed at 1.464%, down 1.94%.
WTI crude oil closed at $84.64%, up 2.31%.
Asian markets ended mixed, while European market closed mildly lower.
Market Close Volume Traded And Advance Decline Ratio
The major indexes took a breather today after recording days of new highs. The Dow lost 112.24 points, Nasdaq lost 95.81 points, and the S&P lost 16.45 points. Total NYSE volume traded, a modest 5.48 billion shares. Declining shares outpaced Advancing shares by 1.11:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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