Tuesday's Market Recap - Stocks End Mixed On Weaker Than Expected April New Home Sales.
- cashtonsaunders
- May 24, 2022
- 2 min read
What is The Premarket Telling Us?
Tuesday, May 24, 2022, 6:15 PM.
Stock futures were moderately down across the board in the premarket. Dow futures down 226 points, Nasdaq futures down 199 points, and S&P futures down 43 points. Major Asian markets ended with losses overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 2.749%, down 0.011%.
Currency Desk:
Eurodollar:1.07
UK Pound: 1.25
Crude Oil:
WTI crude oil futures at $109.77/barrel, down 0.47%.
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 with losses. Japan (Nikkei 225) down 0.94%, Shanghai down 2.41%, Hong Kong (Hang Seng) down 1.75%.
Major European markets also ended today with losses. German (DAX) down 1.80%, France CAC 40 down 1.66%, London FTSE 100 down 0.39%.
Market And Sector Dynamics
US stocks opened lower this morning. The Dow lost 141 points, Nasdaq lost 210 points, and the S&P lost 40 points. WTI crude oil got off to a lower start, at $110.09/barrel, down 0.18%. The US 10 Year Bond Yield
Markets traded in negativity for most of the session before turning positive a few minutes just shy of the close of trading.
Six of the eleven S&P sectors ended with losses in trading today, led by communication Services, Consumer Discretionary, Technology, Basic Materials, and Industrials. Utilities, Consumer Staples, Real Estate, Energy, and Healthcare ended higher.
Factors Influencing Today's Market
Asian and European stocks ended lower in their sessions.
US 10 Year Bond closed today at 2.754%, down 3.72%.
WTI crude oil closes at $109.77/barrel, down 0.47%.
April New Home Sales came in a much less than expected 591,000 vs 750,000 consensus estimate, indicating rising interest rates are slowing home sales.
Market Close Volume Traded And Advance Decline Ratio
Markets ended mixed today, the Dow gained 48.38 points, Nasdaq plunged 270.83 points, and the S&P lost 32.27 points. Total NYSE volume traded was a light 4.96 billion shares. Declining shares outpaced Advancing shares by 1.26:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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