Tuesday's Market Recap - Stocks Down For A Third Session Based On Lingering Supply Chain Shortages.

What is The Premarket Telling Us?

Stock index futures were modestly positive early. Dow futures up 13 points, Nasdaq futures up 43 points, and S&P futures up 5 points. Asian markets closed lower. Investors are also anticipation tomorrows Fed decision.

On The Bond Desk:

The US 10 Year Bond Yield at 1.60%, up 0.9 basis points.

Currency Desk:

Eurodollar: 1.15

UK Pound: 1.35

Crude Oil:

WTI crude oil futures at $80.94/barrel, up0.52%.

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 in their sessions. Japan (Nikkei 225) down 0.94%, Shanghai down 1.25%, Hong Kong (Hang Seng) down 1.43%.

Major European markets also closed lower. German (DAX) down 0.34%, France CAC 40 0.34%, London FTSE 100 lost 0.23%.

Market And Sector Dynamics

Markets opened modestly higher across the board, with the Dow up 79 points, Nasdaq gained 30 points, and the S&P added 11points. WTI crude oil opened modestly lower at $80.35/barrel, down 0.21%, and US 10 Year Bond held at 1.612%, up 2.5 basis points.

Despite a strong rally in the morning session, stocks faded in the afternoon, as has been occurring for the last few session.

Investors were cautious ahead of the tomorrows Fed's decision on the taper, anticipated to begin in November or December of this year, and expected to end in the summer of 2022. Investors may be looking to determine if there will a change to that indication, based on some ongoing supply chain shortage, and a potential for inflationary pressures.

Six of eleven S&P sectors ended the day with moderate losses, led by Communication Services, Technology, Healthcare, Industrials, Financials, and Energy. Real Estate, Consumer Discretionary, Utilities, Basic Materials, and Consumer Staples ended moderately lower.

Factors Influencing Today's Market

• Optimistic vaccine news as approval of the Moderna and J&J Covid-19 booster vaccines are expected be announced shortly.

• US 10 Year Bond closed lower today at 1.572%, down 3.44%.

• WTI crude oil closed the day at $80.31/barrel, down 0.26%.

• Asian and European stocks ended with losses in today's session.

Market Close Volume Traded And Advance Decline Ratio

When trading ended all the markets were lower, again today. The Dow lost 117.72 points, Nasdaq lost 20.28 points, and the S&P fell 10.54 points. Total NYSE volume traded, a light 3.58 billion shares. Advancing shares outpaced by 1.5:1.

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Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.