Tuesday's Market Recap - Stocks Sold Off Ahead Of The Results Of FOMC Policy Meeting Tomorrow.

What is The Premarket Telling Us?

December 14, 2021, 7:35 AM.

On The Bond Desk:

The US 10 Year Bond Yield at 1.424%, down 0.065%.

Currency Desk:

Eurodollar: 1.13

UK Pound: 1.32

Crude Oil:

WTI crude oil futures at $71.48/barrel. up 0.27%.

On the Earnings Calendar:

None to report

In M&A News:

None to report.

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What About The Asian And European Markets?

Major Asian markets ended lower. Japan (Nikkei 225) fell 0.73%, Shanghai added down 0.53%, Hong Kong (Hang Seng) gained down 1.33%.

Major European markets ended lower. German (DAX) down 1.08%, France CAC 40 down 0.69%, London FTSE 100 down 0.18%.

Market And Sector Dynamics

Markets opened decidedly lower today. The Dow fell 141 points, Nasdaq fell 217 points, S&P lost 37 points. WTI crude oil also fell to $70.37/barrel, down 1.29%, while US 10 Year Bond Yield rose 2.7 basis points. Stocks traded mostly lower today ahead of the results of the FOMC's December policy meeting, to be announced tomorrow afternoon. Investors will be looking for evidence of a quickened taper schedule. Shares of technology stocks, especially those with sky-high multiples bore the brunt of today's losses.

Today's session was predominantly negative, with ten of the eleven S&P sectors ending the day with losses, led by, Technology, Real Estate, Industrials, Utilities, Consumer Discretionary, Communication Services, Healthcare, Energy, Basic Materials, and Consumer Staples. Financials ended with modest gains.

Factors Influencing Today's Market

• The FOMC began its December policy meeting today, no interest rate hike is expected at tomorrow's announcement.

• The final read on November PPI increased 0.8% vs 0.6% for October.

• US 10 Year Bond Yield closed today at 1.443%, up 2.04%.

• WTI crude oil ended today at $70.30/barrel, down 1.39%.

Market Close Volume Traded And Advance Decline Ratio

The major indexes all ended lower in today's trading. The Dow fell 106.77 points, Nasdaq lost 175.64 points, and S&P lost 34.88 points. Total NYSE volume traded a light 4.45 billion shares. Declining shares outpaced Advancing shares by 2.35:1.

Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.