Tuesday's Market Recap - Stocks Sold Off Early But Reclaimed Some Losses Late In The Session.

What is The Premarket Telling Us?

Tuesday, January 25, 2022, 8:00 AM.

US stocks were severely depressed early, suggesting yesterday's selloff may not be over. Dow futures were down 315 points, Nasdaq futures down 304 points, S&P futures fell 69 points. Major Asian markets fell overnight.

On The Bond Desk:

The US 10 Year Bond Yield at 1.735%, down 0.012%.

Currency Desk:

Eurodollar: 1.12

UK Pound: 1.34

Crude Oil:

WTI crude oil futures at $83.15/barrel. up 0.19%.

On the Earnings Calendar:

IBM reported better than expected earnings after the closed yesterday evening, sending shares higher.

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) lost 1.66%, Shanghai lost 2.58%, Hong Kong (Hang Seng) down 1.67%.

Major European markets ended higher. German (DAX) gained 0.75%, France CAC 40 up 0.74%, London FTSE 100 up 1.02%.

Market And Sector Dynamics

Markets opened lower again today, with the Dow down 365 points, Nasdaq was down 237 points, and S&P lost 66 points. WTI crude oil got off to a mildly positive start, at $83.41 points, up 0.12%, while the US 10 Year Bond Yield at 1.749%, up 1.4 basis points. Markets sank even lower after the open. The Dow was down nearly 800 points, half an hour after the start of trading. The major index rallied back to positive territory late in the afternoon, but could not hold on at that level.

Today's selloff was broad-based and pervasive with shares of large high growth technology and other companies continuing their decline, as investor took profits.

Nine of the eleven S&P sectors ended with losses, led by, Technology, Communication Services, Consumer Discretionary, Utilities, Consumer Staples, Industrials, Basic Materials, Healthcare, and Real Estate. Energy and Financials ended solidly higher.

Factors Influencing Today's Market

• Markets plunged intraday but recovered much of those losses in afternoon trading.

• Major Asian markets ended today's session lower, while European markets ended with gains.

• US 10 Year Bond Yield ended today at 1.778%, up 0.11%.

• WTI crude oil closing price today was $85.36/barrel, up 2.46%.

Market Close Volume Traded And Advance Decline Ratio

US markets staged another spectacular recovery today, after a drastic selloff early in the session. Unlike yesterday, the indexes did not make it back to positive territory. At the close of trading, the Dow was down 66.77 points, Nasdaq lost 315.83 points, and S&P fell 53.68 points. Total NYSE volume traded, a modest 5.13 billion shares. Declining shares outpaced Advancing by 1.39:1.

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