Tuesday's Market Recap - Stocks In Consolidation Phase After Recording Recent Gains.
- May 24, 2021
- 2 min read
What is The Premarket Telling Us?
May 25, 2021 7:15 AM.
Stock futures are moderately higher at this hour. Dow futures up 83 points, Nasdaq up 63 points, and the S&P was up 13 points. Asian markets ended with gains ovenight.
On The Bond Desk:
The US 10 Year Bond Yield at 1.591%, down 1.7 basis points.
Currency Desk:
Eurodollar: 1.22
UK Pound: 1.41
Crude Oil:
WTI crude oil futures at $65.91/barrel, down 0.21%.
On the Earnings Calendar:
None to report
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets closed solidly higher. Japan (Nikkei 225) up 0.67%, Shanghai up 2.40%, Hong Kong (Hang Seng) up 1.75%.
Major European markets ended mixed. German (DAX) added0.18%, France CAC 40 fell 0.28%, London FTSE 100 lost 0.31%.R
Market And Sector Dynamics
Markets opened higher, with the Dow up 64 points, Nasdaq gained 64 points, and the S&P up 11 points. Crude oil also started the day higher at $66.11/barrel, up 0.09%, while the US 10 Year Bond ticked lower at 1.593%.
The Dow made an intraday high of 110 points shortly after the open, but lost all those gains by 10:00 AM. However, an hour and a half later, the Dow was down more down 80 points. Markets went positive for a short while in the early afternoon, but turned lower again, finishing at the low of the session.
Six of eleven S&P sectors ended the session with losses, led by Energy, Utilities, Financial, Basic Materials, Healthcare, and Industrials. Consumer Discretionary, Real Estate, Communication Services, Consumer Staples, and Technology.
Factors Influencing Today's Market
Markets were in consolidation mode in today's session.
Asian markets finished higher while European stocks ended mixed.
US 10 Year Bond Yield closed at 1.560%, down 2.65%.
WTI crude oil closed at $65.92/barrel, down 0.20%.
Market Close Volume Traded And Advance Decline Ratio
When trading ended today, the major indexes were negative. The Dow fell 81.52 points, Nasdaq lost 4 points, and the S&P lost 8.92 points. Total NYSE volume trades, a modest 4.19 billion shares. Declining shares outpaced Advancing shares nearly 2:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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