Wednesday's Market Recap - Stocks Rally As Crude Oil And Bond Yield Decline.

cashtonsaunders
Sep 6, 2022
2 min read

What is The Premarket Telling Us?

Wednesday, September 7, 2022, 6:41 AM.

Stock futures were marginally higher shortly before the seven o'clock hour. Dow futures were up 28 points, Nasdaq futures up 25 points, and S&P futures up 5 points. Asian markets closed mostly lower overnight.

On The Bond Desk:

The US 10-Year Bond Yield at 3.340%, down 0.147%

Currency Desk:

Eurodollar: 0.99

UK Pound: 1.14

Crude Oil:

WTI crude oil futures at $87.36/barrel, up 0.55%.

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) down 0.71%, Shanghai up 0.09%, Hong Kong (Hang Seng) down 0.94%.

Major European markets ended their day mixed. German (DAX) up 0.35%, France CAC 40 up 0.02%, London FTSE down 0.86%.

Market And Sector Dynamics

US markets were mixed at the open. The Dow was down 33 points, Nasdaq was up 21 points, and S&P down 1 point. WTI crude oil was off to a lower start at $86.81/barrel, while the US 10 Year Bond hovered around the 3.338% mark.

Markets traded in a positive risk-on fashion today. Stocks traded comfortably above the flat line during the morning session, before jumping meaningfully higher during the afternoon, and held on at that level into the close.

Today's rally was broad-based with ten of the eleven S&P sectors finishing with gains, led by Utilities, Consumer Discretionary, Basic Materials, Communication Services, Financials, Real Estate, Consumer Staples, Healthcare, Industrials, and Technology. Energy was the only sector that was lower.

Factors Influencing Today's Market

Intraday day decline in Crude oil prices and the US 10 Year Bond helped stocks to rally in today's session.
US 10-Year Bond Yield closed today at 3.267%, down 2.50%.
WTI crude oil ended the day at $81.94/barrel, down 5.69%.
Major Asian and European markets ended mixed today.

Market Close Volume Traded And Advance Decline Ratio

At the end of today's session, US indexes closed significantly higher. The Dow gained 435.98 points, Nasdaq gained 246.99 points, and the S&P added 71.68 points. Total NYSE volume traded was a light 3.89 billion shares. Advancing shares outpaced Declining shares by 3.20:1.

Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.