Tuesday's Market Recap - Stocks Rebound Today Reclaiming Most Of Yesterday's Selloff.
- cashtonsaunders
- Jul 19, 2021
- 2 min read
What is The Premarket Telling Us?
July 20, 2021 8:30 AM.
US stock futures are trending higher at this hour, looking to pull back some of yesterday's losses. Dow futures are up 157 points, Nasdaq futures up 61 points, and S&P futures are up 18 points.
On The Bond Desk:
The US 10 Year Bond Yield at 1.181%.
Currency Desk:
Eurodollar: 1.17
UK Pound: 1.35
Crude Oil:
WTI crude oil futures at $66.24/barrel,
On the Earnings Calendar:
Netflix and Chipotle reports after the closing bell today.
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets ended their day lower. Japan (Nikkei 225) fell 0.96%, Shanghai down 0.07%, Hong Kong (Hang Seng) fell 0.84%.
Major European markets finished their sessions higher. German (DAX) gained 0.55%, France CAC 40 up 0.81%, London FTSE 100 rose 0.54%.
Market And Sector Dynamics
Markets opened vibrantly higher, after yesterday's massive selloff. The Dow gained 202 points, Nasdaq gained 13 points, and the S&P gained 15 points. WTI crude oil got of to mildly lower start, at $65.92/barrel, an the US 10 year Bond slipped 4.2 basis points, to 1.139%.
Stocks climbed higher after the open, with a steady determination to claw back the prior day's losses, a broad based rally that saw ten of the eleven S&P sectors participating, led by Industrials, Financials, Real Estate, Consumer Discretionary, Technology, Energy, Healthcare, Basic Materials, Communication Services, and Utilities. Consumer Staples ended mildly lower.
Factors Influencing Today's Market
Investor cast aside the fears of yesterday in a broad-based rally.
US 10 Year Bond Yield closed today at 1.222%, up 1.23%.
WTI crude oil ended the day at $66.48/barrel, up 0.09%.
Asian markets ended lower, while European market ended solidly higher.
June's US Housing starts and Permits came in mixed: Housing Starts beat expectation, rose 6.3% (M/M), while Housing Permits fell 5.1%.
Market Close Volume Traded And Advance Decline Ratio
Markets rallied sharply today, recovering a significant portion of yesterday's losses. The Dow soared 549.95 points, Nasdaq climbed 223.89 points, and the S&P gained 64.57 points. Total NYSE volume traded, a modest 4.67 billion shares. Advancing shares outpaced Declining shares by 4.78:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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