Wednesday's Market Recap - After A Mixed Opening, Stocks Ends Session Moderately Higher.
- cashtonsaunders
- Feb 2, 2022
- 2 min read
What is The Premarket Telling Us?
Wednesday, February 2, 7:13 AM.
US stock futures were mixed in early premarket trading. Dow futures were up 54 points, Nasdaq futures up 249 points, and S&P futures up 38 points. Asian markets ended mixed in their session.
On The Bond Desk:
The US 10 Year Bond Yield at 1.80%, up 0.018%.
Currency Desk:
Eurodollar: 1.13
UK Pound:
Crude Oil:
WTI crude oil futures at $88.23/barrel, down 0.03%.
On the Earnings Calendar:
Paypal reported disappointing earnings after the closed yesterday, sending shares tumbling in the aftermarket.
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets ended mixed Japan (Nikkei 225) up 1.68%, Shanghai down 0.97%, Hong Kong (Hang Seng) up 1.07%.
Major European markets closed mixed. German (DAX) down 0.04%, France CAC 40 up up 0.22%, London FTSE 100 up 0.63%.
Market And Sector Dynamics
Markets were mixed at the open. The Dow fell 65 points, Nasdaq gained 115 points, and S&P gained 24 points. WTI crude oil rose 0.74%, to $88.85/barrel, while the US 10 Year Bond Yield up1.781%, down 0.9 basis points.
Stocks traded in a volatile morning session under pressure from PayPal after the company reported disappointing earnings after the close of trading yesterday. Stocks turned around later in the session to end the day in positive territory.
Today's rally showed ten of the eleven S&P sectors ended with gains, led by Communication Services, Real Estate, Utilities, Healthcare, Consumer Staples, Technology, Industrials, Financials, Energy, and Basic Materials. Consumer Discretionary ended the session lower.
Factors Influencing Today's Market
Papal weighed negatively on markets in the session after missing earnings estimates.
US 10 Year Bond Yield ended the day at 1.771%, down 1.29%.
WTI crude oil closed at $$87.65/barrel, down 0.62%.
Last week's EIA Petroleum Status Report showed US crude oil inventories fell -1.0 million barrels vs an increase of 2.4 mill barrels in the prior week.
Asian and European markets closed mixed today.
January ADP Private Sector Payroll came in weaker than the 225, 000 consensus estimates.
Market Close Volume Traded And Advance Decline Ratio
The three major indexes closed with gains today, with the Dow up 224.09 points, Nasdaq up 71.54 points, and the S&P up 42.84 points. Total NYSE volume traded, a light 4.50 billion shares. Declining shares outpaced Advancing shares by 1.26:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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