Tuesday's Market Recap - Stocks Ended The Day Modestly Lower As Congress Prepares To Impeach Trump.
- Jan 12, 2021
- 2 min read
What is The Premarket Telling Us?
8:45 AM.
Stock futures up 59 points, Nasdaq futures up 16 points, and the S&P futures up 6 points. Asian markets ended the day with gains.
On The Bond Desk:
The US 10 Year Bond Yield at 1.13%, up 0.03%.
Currency Desk:
Eurodollar: 1.21
UK Pound: 1.35
Crude Oil:
WTI crude oil futures at $53.05/barrel, up 1.53%.
On the Earnings Calendar:
Major banks will begin reporting earnings this week.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets closed moderately higher. Japan (Nikkei 225) up 0.09%, Shanghai up 2.18%, Hong Kong (Hang Seng) up 1.32%.
Major European markets ended lower today. German (DAX) down 0.08%, France CAC 40 fell 0.20%, London FTSE 100 down 0.65%.
Market And Sector Dynamics
Markets opened mildly positive with the Dow up 20 points, Nasdaq 28 points, and the S&P up 4 points. WTI crude oil $52.76/barrel, up 0.98%, and the US 10 Year Bond Yield at 1.161%. Shares of GM soared today after the company announced its new Electric Vehicle (EV), Brightdrop for the commercial delivery market.
Stocks turned higher shortly before 10:00 AM, with the Dow up 90 points a few minutes after 11:00 am. Shortly after noontime, the Dow was back in negative territory down 125 points, before rebounding, climbining back to above the flat line, to close with a modest gain.
Trading was fairly balanced in today's session, with six of eleven S&P sectors ending the session with gains, led by Energy, Basic Materials, Consumer Discretionary, Financials, Industrials, and Industrials. Communication Services, Utilities, and Consumer Staples.
Factors Influencing Today's Market
GM announced Brightdrop, its commercial delivery Electric Vehicle (EV) many already ordered by FedX.
Asian markets ended moderately higher, while European markets were all lower.
US 10 Year Bond Yield closed today at 1.129%, down 1.33%.
WTI crude oil closed at $53.21/barrel, up 1.84%.
November JOLTS report shows 6.527 million available job openings
Market Close Volume Traded And Advance Decline Ratio
The markets ended with another day of gains, after yesterday's mild selloff. The Dow gained 60 points, Nasdaq gained 36 points, and the S&P added 1.58 points. Total NYSE volume traded, a heavy 7.11 billion shares. Advancing shares outpaced Declining shares better than 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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