Tuesday's Market Recap - Stocks Retreated After Strong Morning Rally.
- cashtonsaunders
- Apr 12, 2022
- 2 min read
What is The Premarket Telling Us?
Tuesday, April 12, 2022, 8:00 AM.
US stock futures were mixed to flat early in the premarket. Dow futures down 34 points, Nasdaq up 13 points, and S&P down 2 points. Asian markets ended mixed overnight.
On The Bond Desk:
The US 10 Year Bond Yield was further elevated to 2.780%, up 0.067%.
Currency Desk:
Eurodollar: 1.08
UK Pound: 1.31
Crude Oil:
WTI crude oil futures at $97.88/barrel, up 3.81%.
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 mixed Japan (Nikkei 225) down 1.81%, Shanghai up 1.46%, Hong Kong (Hang Seng) up 0.42 %.
Major European markets closed lower. German (DAX) lost 0.48%, France CAC 40 down 0.28%, London FTSE 100 down 0.55%.
Market And Sector Dynamics
Stocks opened solidly higher as investors appeared to have shaken off Monday's losses. The Dow gained 108 points, Nasdaq rose 163 points, and S&P gained 28 points. WTI crude oil got off to a strong start, up 4.62% to $98.65/barrel, and the US 10 Year Bond fell 6.1 basis points, to 2.719%.
After a strong positive start in the morning session, markets gradually drifted lower, where all three major indexes retreated into the negative territory, a few minutes before the close.
Seven of the eleven S&P sectors ended with losses in the session, led by Financials, Healthcare, Communication Services, Technology, Real Estate, Industrials, and Consumer Staples. Energy, Utilities, Consumer Discretionary, and Basic Materials ended higher.
Factors Influencing Today's Market
US CPI Consumer Price Index rose 8.5%
Asian and European market ended the day mostly lower.
US 10 Year Bond Yield closed at 2.727%, down 1.70%.
WTI crude oil closed today's session at $101.43/barrel, up 7.57%.
Market Close Volume Traded And Advance Decline Ratio
At the end of a volatile session, markets ended modestly lower. The Dow lost 87.72 points, Nasdaq lost 40.38 points, and the S&P lost 15.08 points. Total NYSE volume traded was a light 4.11 billion shares. Advancing and Declining shares were mostly even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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