Wednesday's Market Recap - A Mixed Session Dow Down, Nasdaq And S&P Ends Higher.
- cashtonsaunders
- Oct 19, 2021
- 2 min read
What is The Premarket Telling Us?
Wednesday October 20, 2021 at 7:30 AM.
US stock futures were mostly flat early in the premarket. Dow futures down4 points, Nasdaq futures up 11 points, and S&P futures were neutral. Asian markets were mixed in their sessions.
On The Bond Desk:
The US 10 Year Bond Yield at 1.623%, down 0.012%.
Currency Desk:
Eurodollar: 1.16
UK Pound: 1.37
Crude Oil:
WTI crude oil futures at $81.46/barrel. down 1.19%
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 mixed. Japan (Nikkei 225) up 0.14%, Shanghai down 0.17%, Hong Kong (Hang Seng) up 1.35%
Major European markets ended with modest gains. German (DAX) up 0.05%, France CAC 40 up 0.54%, London FTSE 100 up 0.08%.
Market And Sector Dynamics
Stocks opened mildly higher. The Dow rose 31 points, Nasdaq gained 20 points, and the S&P up 8 points. WTI crude oil opened at $81.80/barrel, down 1.40%, and the US 10 Year ticked up 1.2 basis points to 1.646%.
Stocks were elevated for the entire trading session, as investors continue to cheer third quarter earning season, so far. While there has been comments from some companies, that increase input cost, and supply chain issues remains a challenge, overall the big earnings picture has been good.
Bitcoin also figured prominently in the market today. The popular cryptocurrency ran up to a an all time high of $66,000 per coin, following up on the approval of the first Bitcoin futures ETF, approved by the Security & Exchange Commission, which began trading on Tuesday.
Market bias was mostly positive, with eight of the eleven S&P sectors ending the session with gains, led by Utilities, Real Estate, Healthcare, Energy, Basic Materials, Financials, Industrials, and Consumer Staples. Technology, Communication Services, and Consumer Discretionary ended modestly lower.
Factors Influencing Today's Market
Asian markets ended mixed, and European stocks were mildly higher.
US 10 Year Bond Yield ticked higher today to close at 1.660%, up 1.19%.
WTI crude oil closed today at $83.87/barrel, up 1.10%.
Last week's EIA Petroleum Status Report show an inventory draw down o 0.4 million barrels of crude oil vs 6.1 million barrels in the prior week.
Bitcoin reaches all time high $66,000.
Market Close Volume Traded And Advance Decline Ratio
Markets ended mostly higher in today's trading. The Dow gained 152.03 points, Nasdaq slipped 7.41 points, and the S&P gained 16.56 points. Total NYSE volume trades, a light 4.08 billion shares. Advancing shares outpaced Declining shares by 2.15:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
Comments