Tuesday's Market Recap - Stocks Rally Convincingly For A Second Day.
- cashtonsaunders
- Dec 7, 2021
- 2 min read
What is The Premarket Telling Us?
Tuesday, December 7, 2021, 7:59 AM.
US stock futures were convincingly higher an hour and a halt before the start of trading. Dow futures were up 355 points, Nasdaq futures up 283 points, S&P futures up 60 points. Asian markets were nicely higher in their sessions overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 1.434%, up 0.091%.
Currency Desk:
Eurodollar: 1.12
UK Pound: 1.32
Crude Oil:
WTI crude oil futures at $71.53/barrel, up 2.94%.
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 solidly higher. Japan (Nikkei 225) up 1.89%, Shanghai up 0.16%, Hong Kong (Hang Seng) up 1.89%.
Major European markets closed nicely higher. German (DAX) up 2.82%, France CAC 40 up 2.91%, London FTSE 100 rose 1.49%.
Market And Sector Dynamics
Markets started off the day in serious rally mode. The Dow surged 364 points, Nasdaq jumped 304 points, and the S&P was up 60 points. WTI crude oil was also higher at $71.33/barrel, up 2.65%, while the US 10 Year Bond Yield edged higher at 1.46%, up 2.6 basis points.
The markets shook off any concern about Omicron, Fed taper and interest rate hikes, and fear of inflation and rallied from start to finish today. Stocks remained firmly elevated for the entire session.
Today's rally was broad-based and deep with all eleven S&P sectors ending the session with gains, led by Technology, Consumer Discretionary, Energy, Financials, Real Estate, Basic Materials, Communication Services, Healthcare, Industrials, Utilities, and Consumer Staples.
Factors Influencing Today's Market
Markets rallied today on the notion that infections from the Omicron variant are likely to be mild.
Asian and European markets ended with solid gains in today's session.
US 10 Year Bond Yield closed at 1.472%, up 2.73%.
WTI crude oil closed at $71.84/barrel, up 3.38%.
Market Close Volume Traded And Advance Decline Ratio
Stocks soared on Tuesday, continuing yesterday's strong rally. The Dow rocketed 492.40 points, Nasdaq surged 461.76 points, and S&P gained 95.08 points. Total NYSE volume traded, a modest 4.52 billion shares. Advancing shares outpaced Declining shares 3.76:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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