Stocks mixed after mixed Wall Street session overnight - 4.5.2021

Senior Analyst

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Todays’ Market Summary

The Dollar strengthening has resumed currently
Futures on three main US stock indexes are down currently
Gold prices are inching lower currently

Top daily news

Equities are mixed currently after SP 500 and Dow rebounded Monday while Nasdaq extended losses. Apple gained 0.82% on Monday as the IT giant and its foe Epic Games outlined their cases in 'walled garden' app store trial in federal court, Tesla shares fell 3.46% as judge ordered Tesla to provide documents involving Elon Musk’s compensation in a shareholders’ case accusing Musk, board of breaching their fiduciary duties.

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Forex news

The Dollar strengthening has resumed currently . The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.4% Monday as Institute for Supply Management reported US manufacturing activity grew at a slower pace in April.

Both EUR/USD and GBP/USD reversed their retreating Monday as federal statistics office Destatis reported German retail sales posted their biggest year-on-year increase in March since the start of the Covid pandemic. Both pairs are lower currently. USD/JPY reversed its climbing while AUD/USD reversed its sliding Monday with both Australian dollar and yen lower against the greenback currently as the Reserve Bank of Australia kept the official cash rate on hold at 0.1%.

Stock Market news

Futures on three main US stock indexes are down currently while US 10-year Treasury yields hover around 1.605 ahead of factory orders report at 16:00 CET. Earnings season continues in the US with DuPont, ConocoPhillips and Pfizer due to report quarterly results before market open today. The three US main stock benchmarks recorded returns ranging from -0.5% to 0.7% Monday.

European stock indexes are down currently after closing higher Monday with the UK closed for a public holiday. Asian indexes are mixed today with Hong Kong’s Heng Seng Index leading gains with Japan and mainland China’s markets remaining closed.

Commodity Market news

Brent is higher today ahead of data from the American Petroleum Institute later today. Prices closed higher Monday as Chinese data showed crude imports averaged a seasonal record in February and March from increased car sales and strong industrial activity. The US oil benchmark West Texas Intermediate (WTI) rose 1.3% and is higher currently. June Brent added 1.1% to $67.50 a barrel on Monday.