Wednesday's Market Recap - Release Of The Fed/FOMC Minutes Sent Markets Higher In The Session.
- cashtonsaunders
- May 25, 2022
- 2 min read
What is The Premarket Telling Us?
Wednesday, May 25, 2022, 7:00 AM.
US stock indexes were mostly flat in the 7:00 AM hour. Dow futures were down 60 points, Nasdaq down 4.25 points, and S&P futures down 4.75 points. Asian stocks ended mixed.
On The Bond Desk:
The US 10 Year Bond Yield at 2.760%, down 0.099%.
Currency Desk:
Eurodollar: 1.06
UK Pound: 1.24
Crude Oil:
WTI crude oil futures at $111.32/barrel, up1.41%.
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 mixed. Japan (Nikkei 225) down 0.26%, Shanghai up 1.19%, Hong Kong (Hang Seng) up 0.29%.
Major European markets closed modestly higher. German (DAX) up 0.63%, France CAC 40 up 0.73%, London FTSE 100 up 0.51%.
Market And Sector Dynamics
US stocks opened moderately lower across the board, with the Dow down 114 points, Nasdaq down 22 points, and S&P was down10 points. WTI crude oil traded higher at the open, up 0.81%, to $110.66 /barrel. The US 10 Year Bond ticked down 2.6 basis points to 2.7340%.
Markets traded higher during most of the morning session, but went negative in the early afternoon, ahead of the release of the
Fed/FOMC last meeting, around 2:00 PM. Markets regained momentum in the final two hours of trading to finish comfortable higher.
Nine of the eleven S&P sectors ended with gains today, led by Consumer Discretionary, Energy, Technology, Communication Services, Financials, Industrials, Real Estate, Basic Materials, and Consumer Staples. Utilities and Healthcare were mildly lower.
Factors Influencing Today's Market
investors brushed largely ignored the release of the Fed/FOMC minutes this afternoon.
Asian markets ended mixed, while European markets ended higher.
US 10 Year Bond Yield closed the session at 2.751%, down 0.13%.
WTI crude oil price closed at $110.74/barrel, up 0.880%.
This week's EIA Petroleum Status Report showed US crude oil Inventories fell -1 million barrels vs - 3.4 million barrels in the prior week.
Market Close Volume Traded And Advance Decline Ratio
Markets closed higher in today's session. At the closed the Dow gained 191.66 points, Nasdaq gained 170.29 points, and S&P gained 37.25 points. Total NYSE volume traded was a light 4.81 billion shares. Advancing shares outpaced Declining shares by 3.67:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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