Wednesday's Market Recap - Dow Hit Record High In Mixed Trading Session.
- Feb 10, 2021
- 2 min read
What is The Premarket Telling Us?
7:00 AM.
Moderately higher describes the status of US stock futures at this hour. Dow futures up 86 points, Nasdaq futures up 47 points, S&P futures up 12 points. Asian markets closed their sessions higher.
On The Bond Desk:
The US 10 Year Bond Yield at 1.16%, unchanged.
Currency Desk:
Eurodollar: 1.21
UK Pound: 1.38
Crude Oil:
WTI crude oil futures at $58.65/barrel, up 0.50%.
On the Earnings Calendar:
None to report
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets ended Japan (Nikkei 225) up 0.19%, Shanghai up 1.43%, Hong Kong (Hang Seng) up1.97%.
Major European markets were . German (DAX) down 0.56%, France CAC 40 down 0.36%, London FTSE 100 down 0.11%.
Market And Sector Dynamics
Markets got off to a solid positive start. The Dow gained 122 points, Nasdaq gained 62 points, S&P up 18 points.WTI crude oil up $58.39/barrel, up 0.05%, and the US 10 Year Bond Yield at 1.157%.
The market went negative shortly after the strong open, but rebounded sharply back to the flat line, around noontime, and remained positive for the rest of the session.
Six of eleven S&P sectors ended today with losses, led by Consumer Discretionary, Industrials, Basic Materials, Technology, Consumer Staples, and Financials. Energy, Communication Services, Real Estate, Utilities, and Healthcare were higher.
Factors Influencing Today's Market
Asian markets ended higher while European markets ended lower.
US 10 Year Bond closed today at 1.124%, down 3.10%.
WTI Crude Oil closed at $58.68/barrel, up 0.55%.
This week's EIA Petroleum Status Report shows US crude oil inventories fell/draw 6.6 million barrels, more than the -1.0 billion barrels, withdrawn last week.
Market Close Volume Traded And Advance Decline Ratio
When trading ended the Dow gained 61.97 points, Nasdaq fell 35.16 points, and S&P fell 1.35 points. Total NYSE volume traded, a moderate 4.30 billion shares. Advancing and Declining shares were mostly even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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