Wednesday's Market Recap - Stocks Ended Lower As Market Volatility Continues.
- cashtonsaunders
- Mar 23, 2022
- 2 min read
What is The Premarket Telling Us?
Wednesday, March 23, 2022, 7:45 AM.
Stock index futures trended moderately lower in the premarket, with Dow futures down 136 points, Nasdaq futures down 117 points, and S&P futures down 23 points. Asian markets ended their session higher.
On The Bond Desk:
The US 10 Year Bond Yield at 2.373%, up 0.059%.
Currency Desk:
Eurodollar: 1.09
UK Pound: 1.32
Crude Oil:
WTI crude oil futures at $112.19/barrel, up 2.67%.
On the Earnings Calendar:
None to report
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets closed higher. Japan (Nikkei 225) up 3.0%, Shanghai up 0.34%, Hong Kong (Hang Seng) up 1.29%.
Major European markets closed lower. German (DAX) down1.31%, France CAC 40 down 1.17%, London FTSE 100 down 0.22%
Market And Sector Dynamics
The three major indexes were moderately lower at the open. The Dow down 59 points, Nasdaq down 119 points, and the S&P down 19 points.
Stocks traded below the flat line during the session as investors weigh the risks of war in Ukraine, and the Federal Reserve rate hike regime on the US economy, and the markets.
Market tone was negative today, with nine of the eleven S&P sectors ending with losses, led by Financials, Healthcare, Technology, Communication Services, Consumer Discretionary, Real Estate, Industrials, Consumer Staples, and Basic Materials. Energy and Utilities ended higher.
Factors Influencing Today's Market
Stocks fell as investors feared the potential negative effects of the Fed's interest rate hikes and the war in Ukraine on the US economic activity.
Major Asian markets closed higher, while European markets ended lower.
US 10 Year Bond Yield closed the day at 2.290%, down 3.82%.
WTI crude oil closed the day at $114.93/barrel, up 2.84%.
This week's EIA Petroleum Status Report shows US oil inventories fell by 2.5 million barrels vs a build of 4.3 million barrels in the prior week.
Market Close Volume Traded And Advance Decline Ratio
US markets ended the solid losses in today's session. The Dow sank 448.96 points, Nasdaq tanked 186 points and S&P lost 55.37 points. Total NYSE volume traded was a modest 4.54 billion shares. Declining shares outpaced Advancing shares by 1.82:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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