Tuesday's Market Recap - Stocks Records Modest Selloff.
- Jan 26, 2021
- 2 min read
What is The Premarket Telling Us?
7:40 AM.
US stock futures are modestly positive at the moment. Dow futures up 69 points, Nasdaq futures up 4.50 points, and S&P futures up 4.25 points. Asian markets traded lower.
On The Bond Desk:
The US 10 Year Bond Yield at 1.040%, down 0.051%.
Currency Desk:
Eurodollar: 1.21
UK Pound: 1.36
Crude Oil:
WTI crude oil futures at $53.06/barrel, up .056%.
On the Earnings Calendar:
Microsoft, and Starbucks report earnings results after the closing bell.
In M&A News:
None to report.
What About The Asian And European Markets?
Major Asian markets close today with losses. Japan (Nikkei 225) down 0.96%, Shanghai down 1.51%, Hong Kong (Hang Seng) down 2.55%
Major European markets ended with gains. German (DAX) 1.66%, France CAC 40 up 0.93%, London FTSE 100 up 0.23%.
Market And Sector Dynamics
Markets opened today session higher, with the Dow up 149 points, Nasdaq gained 42 points, and the S&P gained 13 points. WTI crude oil closed at $52.88/barrel, up 0.21%, while the US 10 Year Bond hovered at 1.047%. Ninety minutes after the open stocks gave up all of the morning's gains, with the Dow down 23 points.
The rest of the session was unremarkable, as the Dow remained close to the flat line, turning mildly positive in the afternoon, but dived lower again just before the closing bell.
Six of the eleven S&P sectors closed the session with losses, led by Energy, Basic Materials, Utilities, Industrials, Financials, and Healthcare. Real Estate, Consumer Staples, Communication Services, Consumer Discretionary, and Technology.
Factors Influencing Today's Market
The Fed/FOMC begans its two day policy meeting today.
Consumer Confidence Index for January was a better than expected 89.3 vs 88.5 estimated.
US 10 Year Bond Yield closed today at 1.033%, unchanged since the previous close.
WTI crude oil closed today at $52.78/barrel, up 0.02%.
Market Close Volume Traded And Advance Decline Ratio
When trading ended today the markets were flat to modestly lower. The Dow fell 22.96 points, Nasdaq fell 9.93 points, and the S&P fell 5.74 points. Total NYSE volume traded, a moderate 5.94 billion shares. Declining shares outpaced Advancing by 1.41:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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