Tuesday's Market Recap - US Stocks End Modestly Higher With Investors Rotating To High Growth Stocks
- cashtonsaunders
- Jun 28, 2021
- 2 min read
What is The Premarket Telling Us?
June 29, 2021 7:00 AM.
US stock futures are mixed at this hour, two and a half hours before the start of trading. The Dow was up 52 points, Nasdaq futures were down 17 points, and S&P futures down 1.25 points. Asian stocks ended lower overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 1.478%, down 0.05%.
Currency Desk:
Eurodollar: 1.19
UK Pound: 1.38
Crude Oil:
WTI crude oil futures at $72.36/barrel, down 0.75%.
On the Earnings Calendar:
None to report
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets closed lower. Japan (Nikkei 225) down 0.81%, Shanghai down 0.92%, Hong Kong (Hang Seng) down 0.92%.
Major European markets ended higher today. German (DAX) up 0.88%, France CAC 40 up 0.14%, London FTSE 100 up 0.21%.
Market And Sector Dynamics
Markets were mixed at the open with the Dow up 171 points, Nasdaq down 9 points, and the S&P up 7 points. WTI crude oil also ticked higher at $73.47/barrel, up 0.77%, while the US 10 Year Bond Yield was higher at 1.499%, up 2.1 basis points.
The Dow held on to most its gains during the morning hour, but gradually sold off later in the morning, and continued it decent during the afternoon session. At the high the Dow was up 172 points in the morning, before falling to Dow down 12 points shortly before 3:00 PM.
Today's session leaned mostly negative, with eight of the eleven S&P sectors closing the session lower, led by Utilities, Communication Services, Energy, Consumer Staples, Financials, Industrials, Real Estate, and Basic Materials. Technology, Consumer Staples, and Basic Materials ended higher.
Factors Influencing Today's Market
Case- Shiller Home Price Index for April came in at much better than expected 1.60% vs 1.20% estimates.
Consumer 'confidence for June came in at 127.3 vs 119 estimated.
US 10 Year Bond Yield ended the day at
WTI crude oil ended today at $72.91/barrel, down 1.54%.
Asian markets ended lower, while European stocks ended higher.
Market Close Volume Traded And Advance Decline Ratio
Markets ended today's session modestly higher, with the Dow up 9.02 points, Nasdaq gained 27.83 points, and the S&P added 1.19 points. Total NYSE volume traded, a light 3.69 billion shares. Declining shares outpaced Advancing shares by 1.19:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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