Tuesday's Market Recap - Stocks Recorded Another Strong Day Of Gains.
- cashtonsaunders
- Feb 1, 2022
- 2 min read
What is The Premarket Telling Us?
Tuesday, February 1, 7:00 AM.
US stock futures were modestly lower early in Tuesday's premarket. Dow futures were down 54 points, Nasdaq futures down 28 points, and S&P futures down 12 points.
On The Bond Desk:
The US 10 Year Bond Yield at 1.782%, unchanged.
Currency Desk:
Eurodollar: 1.12
UK Pound: 1.34
Crude Oil:
WTI crude oil futures at $87.76/barrel, down 0.44%.
On the Earnings Calendar:
Alphabet (Google), Paypal, Starbucks, and AMD report quarterly earnings after the close of trading this evening.
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets ended mixed Japan (Nikkei 225) up 0.28%, Shanghai down 0.97%, Hong Kong (Hang Seng) up 1.07%.
Major European markets close higher. German (DAX) up 0.96%, France CAC 40 up 1.43%, London FTSE 100 up 0.96%.
Market And Sector Dynamics
Stocks opened the trading session mildly higher. The Dow up 8 points, Nasdaq up 25 points, and S&P gained 5 points. WTI crude oil was lower at the outset, down 1.02%, to $87.25/barrel, and the US 10 Year Bond hovered at 1.777%, down 0.5 basis points.
Markets traded indecisively early, remaining close to the flat line for most of the morning and early afternoon session, before rallying convincingly in the last hour of trading.
Eight of the eleven S&P sectors ended with gains in the session, led by Energy, Basic Materials, Financials, Industrials, Communication Services, Consumer Discretionary, Healthcare, and Technology. Utilities, Real Estate, and Consumer Staples ended lower.
Factors Influencing Today's Market
US 10 Year Bond Yield ended the day at 1.795%, up 0.61%.
WTI crude oil price ended the day at $88.31/barrel, up 0.18%.
Final read on January's PMI Manufacturing Index came in at 55.5 in line with consensus estimate.
The JOLTS job opening December report shows 10.925 million jobs vs revised10.775 million jobs for November.
Market Close Volume Traded And Advance Decline Ratio
Markets were in rally mode again today. At the close of trading, the major indexes were higher. The Dow gained 273.88 points, Nasdaq gained 106.12 points, and S&P gained 30.99 points. Total NYSE volume traded? A modest 4.81 billion shares. Advancing shares outpaced Declining shares by 2.70:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
Comments