Wednesday's Market Recap - Stocks Rallied Early In Session But Faded Into the Close.
- cashtonsaunders
- Jan 19, 2022
- 2 min read
What is The Premarket Telling Us?
Wednesday January 19, 2022 8:30 AM.
The futures were moderately higher one hour before the opening bell, as investor hoped today would begin the turnaround. Dow futures up 105 points, Nasdaq futures up 97 points, and S&P futures up 19 points. Asian markets were mixed in their session overnight.
On The Bond Desk:
The US 10 Year Bond Yield at 1.861%, down 0.004%.
Currency Desk:
Eurodollar: 1.13
UK Pound: 1.36
Crude Oil:
WTI crude oil futures at $85.93/barrel, up 0.59%.
On the Earnings Calendar:
Morgan Stanley, Bank of America, reported better than expected fourth-quarter earnings before the bell this morning, as did
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets closed mixed in their sessions. Japan (Nikkei 225) down 2.80%, Shanghai down 0.33%, Hong Kong (Hang Seng) added 0.06%.
Major European markets ended with gains today. German (DAX) up 0.24%, France CAC 40 up 0.55%, London FTSE 100 up 0.35%
Market And Sector Dynamics
Stocks opened today's trading session with moderate gains. The Dow gained 92 points, Nasdaq gained 77 points and the S&P up 22 points. WTI crude oil also started the day off higher at $86.19/barrel, up 0.89%, while the US 10 Year Bond hovered at 1.856%, down 1.2 basis points.
Except for one period during the morning and another early afternoon session, markets traded in negative territory for most of the trading day, as shares of high growth companies, including technology stocks continued to selloff, as the market reprices stocks for a higher interest rate environment.
Nine of the eleven S&P sectors ended today's session with losses, led by Consumer Discretionary, Financials, Technology, Real Estate, Industrials, Energy, Healthcare, Basic Materials, and Communication Services. Consumer Staples and Utilities ended the day modestly higher.
Factors Influencing Today's Market
Stocks opened modestly but encouragingly higher but faded intraday fearing interest rate hikes by the Federal Reserve.
Asian markets ended mixed overnight, and European markets closed higher.
US 10 Year Bond Yield ended today at 1.854%, down 1.14%.
WTI crude oil traded higher $86.86?/barrel, up 1.79%.
Market Close Volume Traded And Advance Decline Ratio
US markets fell again today. The Dow fell 339.82 points, Nasdaq lost 166.64 points, and S&P lost down 44.35 points. Total NYSE volume traded, a modest 4.48 billion shares. Declining shares outpaced Advancing shares by 2.18:1.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
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