Wednesday's Market Recap - Stocks Ended Mixed Today And President Is Impeached For The Second Time.
What is The Premarket Telling Us?
8:15 AM.
US stocks futures are mildly lower, with the Dow down 61 points, Nasdaq down 53 points, and the S&P down 12.25 points. Today the US House of Representatives voted to impeach President Trump today, for the second time in just over one year. Asian markets ended their session lower today.
On The Bond Desk:
The US 10 Year Bond Yield at 1.13%, unchanged.
Currency Desk:
Eurodollar: 1.22
UK Pound: 1.36
Crude Oil:
WTI crude oil futures at $53.50/barrel, up 0.55%.
On the Earnings Calendar:
Target handily beats 4 quarter earnings estimates.
In M&A News:
None.
What About The Asian And European Markets?
Major Asian markets were mostly lower. Japan (Nikkei 225) up 1.04%, Shanghai down 0.27%, Hong Kong (Hang Seng) down 0.15%
Major European markets were mildly higher. German (DAX) up 0.11%, France CAC 40 up 0.21%, London FTSE 100 down 0.13%.
Market And Sector Dynamics
Markets opened mildly mixed, with the Dow down 23 points, Nasdaq up 24 points, and the S&P up 1 point. WTI crude oil got off to a lower start at $52.97/barrel, down 0.49%, and US 10 Year Bond Yield at 1.117%, down 2.1 basis points.
Markets traded lower for most of the morning session, with the Dow down 57 points, the low of the session. Stocks recovered early in the afternoon session and remained comfortably elevated with the Dow hitting an intraday high, up 85 points. The Dow retreated in the last hour of trading to end the day just below the flat line.
Seven of the eleven S&P sectors closed with gains today, led by Utilities, Real Estate, Technology, Communication Services, Healthcare, Consumer Discretionary, and Consumer Staples. Basic Materials, Industrials, Energy, and Financials ended the session with losses.
Factors Influencing Today's Market
Target earnings beat analyst expectation, sales grew 17% for the quarter.
US 10 Year Bond Yield closed at 1.092%, down 3.31%.
WTI crude oil closed today at $52.91/barrel, up 0.56%.
Asian markets were ended lower, while European markets were mildly higher.
Market Close Volume Traded And Advance Decline Ratio
The markets ended mixed in today's session. The Dow slipped 8.22 points, Nasdaq gained 56.52 points, and the S&P up 8.65 points. Total NYSE volume traded, a moderate 4.61billions shares. Advancing shares by 1.12:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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