Wednesday's Market Recap - Dow Mildly Up, S&P At Record High, Nasdaq Flat.
- Apr 7, 2021
- 2 min read
What is The Premarket Telling Us?
6:00 AM.
US stock futures are mostly flat at this hour. Dow futures up 7 points, Nasdaq futures down 0.25 point, and S&P futures up 0.50 point. Asian markets were mixed to flat in their session.
On The Bond Desk:
The US 10 Year Bond Yield at 1.646%
Currency Desk:
Eurodollar:1.18
UK Pound: 1.38
Crude Oil:
WTI crude oil futures at $59.67/barrel, up $0.34%.
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 mostly lower. Japan (Nikkei 225) added 0.12%, Shanghai fell 0.10%, Hong Kong (Hang Seng) lost 0.91%.
Major European markets were ended mixed. German (DAX) down 0.24%, France CAC 40 up 0.01%, London FTSE 100 down 0.24%.
Market And Sector Dynamics
Markets opened today's trading session mildly lower, with the Dow down 28 points, Nasdaq down 22 points, and S&P down mostly flat. Crude oil slipped at the start to $59.17/barrel, down, down $0.16 or 0.27%, while the US 10 Year hovered at 1.665%, up 0.9 basis points.
After a mildly volatile morning session, with the markets moving in and out of positive territory with the Dow up 75 points, a few minutes after the open, and was down as much as 82 points, around 12:30 PM. Stocks moved back to the flat line a short while later, and hung out at that level for most of the afternoon, before ticking into positive territory into the close. In the absence of any new catalyst, markets are consolidating their recent gains, and it appears that market bias is to the upside. High technology shares stock such as Amazon, Facebook, Google, and Energy-related companies outperformed in the session.
Six of eleven S&P sectors closed the session in negative territory today, led by Basic Materials, Industrials, Healthcare, Consumer Staples, Utilities, Consumer Discretionary. Communication Services, Technology, Energy, Financials, and Real Estate, ended the day with gains.
Factors Influencing Today's Market
Shares of Google, Amazon, Facebook outperformed in the session.
Asian market ended lower, while European markets were mixed.
US 10 Year Bond Yield closed today at 1.679%, up 1.29%.
WTI crude oil closed today at $59.55/barrel, up 0.37%.
This week's EIA Petroleum Status Report shows US crude oil inventories fell (-3.5) million barrels vs (-0.9) million barrels in the prior week.
Market Close Volume Traded And Advance Decline Ratio
At the end of trading, markets were mixed, the Dow gained 16.02 points, Nasdaq lost 9.54 points, and the S&P added 6.01 points. Total NYSE volume traded, a modest 4.08billion shares. Declining shares outpaced Advancing shares by 1.34:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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