Daily Summary: bulls take control at the end of the session 🧭

6:47 PM 2 May 2024
  • The indices on Wall Street opened today with little change, and for the first few hours of the cash session, changes fluctuated around zero. However, in the second half of the session, the bulls took control, and the indices ended the day slightly positive.

  • US500 gains 0.45% to 5070 points, and US100 gains 0.60% to 17580 points.

  • Indices in Europe also experienced mostly positive sessions. Market volatility has decreased following yesterday's Fed announcement.

  • In the Forex market, we're observing declines in the dollar, despite the USD having a strong start to the day. The dollar index is currently down 0.15%. Among the strongest currencies are JPY, AUD, and CHF.

  • US bond yields are declining, with 10-year yields dropping to 4.58% and 2-year yields dropping to 4.98%.

  • Today, after the closing of the stock exchange on Wall Street, financial results for the first quarter of the year will be presented by Apple (AAPL.US), Coinbase (COIN.US), and Booking (BKNG.US).

  • Unemployment claims are roughly in line with expectations. Currently: 208k. Expected: 211k vs. 207k previously. The dollar slightly strengthened against the euro following the readings.

  • The Challenger report showed that the US job market is doing very well. The metric fell year-over-year by 3.3% compared to the last reading indicating a 0.7% increase year-over-year. These data, along with yesterday's higher ADP reading, may indicate a stronger NFP reading tomorrow at 2:30 PM.

  • The GDP reading of Hong Kong, a special administrative region of China, indicated 2.3% compared to 0.9% forecasts and 0.4% previously on a monthly basis. Year-over-year, GDP increased by 2.7% compared to 0.8% estimates and 4.3% previously.

  • Factory production in the Eurozone is declining at its slowest pace in a year, confidence is rising, but the decline in new orders is accelerating. At the moment, there is still no optimistic rebound in industrial momentum, which is struggling on the continent.

    • Germany: 42.5 Previously: 42.2
    • Eurozone: 45.7 Previously: 45.6
    • France: 45.3 Previously: 44.9
    • Italy: 47.3 Previously: 50.4
    • Switzerland: 41.4 Previously: 45.5
    • Spain: 52.2 Previously: 51
  • In the cryptocurrency market, we're also seeing gains following dynamic declines below the $60,000 zone in recent days. Bitcoin gains 1.33% to $59,000. Greater gains are observed in the Altcoin market, and Ethereum is struggling to return above $3,000.

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