Wednesday's Market Recap - Stocks Ended Higher For A Third Straight Day.
- cashtonsaunders
- Dec 8, 2021
- 2 min read
What is The Premarket Telling Us?
Wednesday, December 8, 2021, 8:37 AM.
Stock futures were modestly higher early in the premarket. Dow futures up 63 points, Nasdaq futures up 15 points, and S&P futures up 8 points. Asian markets ended mixed in their session.
On The Bond Desk:
The US 10 Year Bond Yield at 1.499%, up 0.019%.
Currency Desk:
Eurodollar: 1.13
UK Pound: 1.31
Crude Oil:
WTI crude oil futures at $72.21/barrel, up 0.22%.
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) up 1.42%, Shanghai up1.18%, Hong Kong (Hang Seng) down 0.05%.
Major European markets closed modestly higher. German (DAX) down 0.80%, France CAC 40 down 0.72%, London FTSE 100 down 0.03%.
Market And Sector Dynamics
Markets opened mostly flat this morning, as investors digested news from Pfizer that the third (booster) dose of its covid vaccine in tests was effective against the Omicron variant. The Dow down 3 points, Nasdaq up 4 points, and S&P added 4 points. WTI crude oil opened at $71.86/barrel, and the US 10 Year Bond stood at 1.472%.
Markets traded mostly positive for the session comforted by the news about the Pfizer booster and its apparent effectiveness against the new Omicron variant. Trading was biased to the upside, with the technology laded Nasdaq outperforming the markets.
Eight of eleven S&P sectors ended the session with gains, led by Communication Services, Healthcare, Real Estate, Technology, Basic Materials, Consumer Discretionary, and Industrials. Financials, Consumer Discretionary, and Utilities ended lower.
Factors Influencing Today's Market
Markets welcomed news from Pfizer that it third dose (booster) was shown to be effective against the Omicron variant.
Asian markets closed mixed today, while European market were lower.
US 10 Year Bond ended the day at 1.528%, up 3.12%
WTI crude oil close today at $72.36/barrel, up 0.43%.
This week's EIA Petroleum Status Report shows US crude oil inventories fell 0.2 million barrels vs 0.9 million barrels last week.
Market Close Volume Traded And Advance Decline Ratio
Markets racked up another day of gains today. The Dow gained 35.32 points, Nasdaq rose 100.07 points, and S&P added 14.46 points. Total NYSE volume traded, a modest 4.27 billion shares. Advancing shares outpaced Declining shares by 1.60:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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