Tuesday's Market Recap - Stocks Ended Mixed In Quiet Trading Session.
- Feb 9, 2021
- 2 min read
What is The Premarket Telling Us?
7:00 AM.
US stock futures are modestly lower at this hour. Dow futures down 51 points, Nasdaq down 14 points, and S&P futures down 4 points. Asian market ended with gains overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 1.16%, down 0.02%.
Currency Desk:
Eurodollar: 1.20
UK Pound: 1.37
Crude Oil:
WTI crude oil futures at $$57.97/barrel, unchanged.
On the Earnings Calendar:
Twitter reports earnings at the close of trading this evening.
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets ended with gains. Japan (Nikkei 225) up 0.40%, Shanghai gained 2.01%, Hong Kong (Hang Seng) gained 0.53%.
Major European markets were mixed. German (DAX) fell 0.34%, France CAC 40 up 0.10%, London FTSE 100 up 0.12%.
Market And Sector Dynamics
Markets opened mildly lower, with the Dow down 98 points, Nasdaq down 16 points, and the S&P down 8.50 points.
Except for a few minutes late in the afternoon, markets traded below the flat line for the entire trading session, as the market tries to digest the last six days of gains. Markets continue to be buoyed by a trio of catalysts; Solid fourth-quarter earnings results, a ramp-up of covid vaccination across the US, and the promise of the Biden $1.9 trillion stimulus plan.
Sector performance in today's session was mostly balanced with six of the eleven S&P sectors closing modestly higher, led by Real Estate, Industrials, Communication Services, Healthcare, Financials, and Utilities. Energy, Basic Materials, Consumer Discretionary, Technology, and Consumer Staples, were moderately lower.
Factors Influencing Today's Market
Markets seem to be digesting the last six days' gains.
Asian markets ended the session with gains, while European markets were mixed.
The Labor Department's December JOLTS report shows job openings were up 6.646 million vs 6.400 million estimates.
US 10 Year Bond Yield closed at 1.160%, down 1.32%.
WTI Crude Oil closed at $58.36/barrel, up 0.67%.
Market Close Volume Traded And Advance Decline Ratio
At market close today, the major indexes were mixed. The Dow fell 9.93 points, Nasdaq gained 20.06 points, and the S&P slipped 4.36 points. Total NYSE volume traded, a moderate 4.60 billion shares. Advancing shares outpaced Declining shares by 1.35:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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