Wednesday's Market Recap - Stocks Rallied Today Shaking Off A Hot Year Over Year CPI Print.
- cashtonsaunders
- Jan 12, 2022
- 2 min read
What is The Premarket Telling Us?
Wednesday, January 12, 2022, 7:36 AM.
Stock futures were modestly higher in premarket trading. Dow futures were up 50 points, Nasdaq futures up 45 points, and S&P futures up 8 points. Major Asian markets ended higher overnight.
On The Bond Desk:
The US 10 Year Bond Yield 1.746%, down 0.044%
Currency Desk:
Eurodollar: 1.13
UK Pound: 1.36
Crude Oil:
WTI crude oil futures at $81.56/barrel, down 0.42%.
On the Earnings Calendar:
Fourth Quarter Earnings season begins with the major US bank on Friday.
In M&A News:
None to report
What About The Asian And European Markets?
Major Asian markets ended solidly higher. Japan (Nikkei 225) up 1.92%, Shanghai up 0.84%, Hong Kong (Hang Seng) down %.
Major European markets closed modestly higher. German (DAX) %, France CAC 40 up %, London FTSE 100 up 2.79%.
Market And Sector Dynamics
Markets opened the trading session higher with the Dow up 170 points, Nasdaq up 130 points, and the S&P up 25 points. WTI crude oil was up 1.15% at $82.15/barrel, and the US 10 Year Bond ticked slightly lower to 1.72%, down 2.6 basis points.
Stocks remained higher for the entire session, and were higher for most of the morning, shaking off a hot 7% year-over-year CPI (Consumer Price Index) print released by the government at eight-thirty in the morning. Markets moderated in the afternoon session- and held on to close modestly higher when trading ended for the day.
Ten of the eleven S&P sectors closed the session with gains, led by Basic Materials, Consumer Discretionary, Technology, Communication Services, Utilities, Industrials, Real Estate, Energy, Consumer Staples, and Financials. Healthcare finished lower.
Factors Influencing Today's Market
December CPI rose 0.5% vs 0.4% month over month, and 7.0% year over year.
US 10 Year Bond ended the day at 1752%, up 0.31%.
WTI crude oil ended today trading at $82.75/barrel, up 1.88%.
This week's EIA Petroleum Status Report showed US crude oil inventory fell -4.6 million barrels vs 2.1 million barrels in the prior week.
Market Close Volume Traded And Advance Decline Ratio
When trading ended today, the major indexes were higher. The Dow gained 38.30 points, Nasdaq gained 34.94 points, and the S&P rose 13.28 points. Total NYSE volume traded, a light 4.07 billion shares. Advancing and Declining shares were mostly even.
Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.
Comments