Wednesday's Market Recap - Dow Mildly Lower, As Nasdaq And S&P Rallied.
- cashtonsaunders
- Nov 24, 2021
- 2 min read
What is The Premarket Telling Us?
Stock futures were mostly in the red on Wednesday morning. Dow futures were off by 153 points, Nasdaq futures down 71 points, and S&P futures down 17 points. Asian markets ended their session mixed.
On The Bond Desk:
The US 10 Year Bond Yield at 1.667%, up 0.042%.
Currency Desk:
Eurodollar: 1.12
UK Pound: 1.33
Crude Oil:
WTI crude oil futures at $78.56/barrel, up 0.08%.
On the Earnings Calendar:
None to report
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets were mixed. Japan (Nikkei 225) down 1.56%, Shanghai up 0.10%, Hong Kong (Hang Seng) up 0.14%.
Major European markets. German (DAX) down 0.37%, France CAC 40 down 0.03%, London FTSE 100 up 0.27%.
Market And Sector Dynamics
Stocks opened the trading session markedly lower. The Dow lost 210 points, Nasdaq fell 115 points, and the S&P fell 22 points. WTI crude oil fell modestly to $78.27/barrel, down 0.29%. The US 10 Year Bond Yield hovered at 1.681%, up 1.6 basis points.
Supply chain constraints and inflation fear continued to worry investors, as new US economic data bolster the strength of economic activity.
However, the FOMC minutes of the November confirmed that policymaker remains committed to their announced policy plan, which the market was fully aware of.
Trading was mostly balanced in the session, with six of the eleven S&P sector ended the day with losses. led by Basic Materials, Consumer Staples, Financials, Industrials, Utilities, and Healthcare. Real Estate, Energy, Technology, Communication Services, and Consumer Discretionary.
Stocks traded convincingly in the red for most of the session trading session, but staged a turnaround in the afternoon, to closed just short of positive territory.
Trading was mostly balanced in the session, with six of the eleven S&P sector ended the day with losses. led by Basic Materials, Consumer Staples, Financials, Industrials, Utilities, and Healthcare. Real Estate, Energy, Technology, Communication Services, and Consumer Discretionary
Factors Influencing Today's Market
The Fed/FOMC meeting minutes confirms members remain committed to be flexible in their policy path as stated.
US 10 Year Bond Yield closed at 1.643%, down 1.96%.
WTI crude oil closed today at $78.39/barrel, down 0.14%.
Preliminary read on Q3 GDP rose 2.1% vs 2.0 prior.
The BLS Initial Jobless Claims showed 199,000 claimed first time unemployment benefits. Lower that the 264,000 estimated.
Market Close Volume Traded And Advance Decline Ratio
Markets ended mixed on Wednesday, ahead of tomorrow's Thanksgiving Holiday. The Dow slipped 9.42 points, Nasdaq gained 70.09 points, and the S&P gained 10.76 points. Total NYSE volume traded, a light 3.43 billion shares. Advancing shares Declining shares by 1.22:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
Comments