by Tyler Durden
Monday, May 03, 2021 - 07:57 AM
S&P and Nasdaq futures, and European bourses were volatile but ultimately rose on Monday to kick off a new month in a quiet session which saw several major markets closed, following a week of record earnings beat which however resulted in big stock drops with investors also keeping an eye on India covid cases and economic data to gauge the pace of recovery.
Trading was subdued with several including Japan, China and the U.K. closed for public holidays. S&P 500 futures added 0.6%, Dow e-minis were up 216 points, or 0.64%, and Nasdaq 100 e-minis were up 40.25 points, or 0.30%. Europe’s Stoxx 600 Index gained 0.4%. The yen weakened, while gold advanced.
Stocks trimmed their advance into the close as giants Tesla Inc. and Amazon.com Inc. weighed on the Nasdaq 100. Traders also assessed economic data, with inflation remaining at the forefront of the investment debate. The dollar fell, while Treasuries rose.
Gains in commodity and industrial shares in the S&P 500 offset losses in tech and retail companies. Pfizer Inc. climbed as the Biden administration will support its move to begin exporting U.S.-made doses of the coronavirus vaccine, while Moderna Inc. rallied after agreeing to provide as many as 500 million doses of its shot to the global program Covax. Estee Lauder Cos. sank as the cosmetics giantâs sales missed estimates.
Stocks trimmed their advance into the close as giants Tesla Inc. and Amazon.com Inc. weighed on the Nasdaq 100. Traders also assessed economic data, with inflation remaining at the forefront of the investment debate. The dollar fell, while Treasuries rose.
Gains in commodity and industrial shares in the S&P 500 offset losses in tech and retail companies. Pfizer Inc. climbed as the Biden administration will support its move to begin exporting U.S.-made doses of the coronavirus vaccine, while Moderna Inc. rallied after agreeing to provide as many as 500 million doses of its shot to the global program Covax. Estee Lauder Cos. sank as the cosmetics giantâs sales missed estimates.
MONEYWEB
app instead?
Crude oil headed lower, while gold ticked up.
By Andreea Papuc, Bloomberg
3 May 2021 08:19
Image: Bloomberg
US equity futures climbed and stocks in Asia dropped Monday as investors assessed inflation risks amid improving economic activity. The dollar held onto gains.
Hong Kong led losses amid low volumes with Japan and China, as well as the UK, among markets closed for holidays. US and European futures edged higher after the S&P 500 dropped from a record Friday, amid data pointing to price pressures and talk of a possible pullback in central bank support. Still, the US gauge capped its biggest monthly rally since November.
Gold Gains Ground as Yellen Calms U.S. Inflation Fears
Swansy Afonso, Bloomberg News A one-ounce Britannia gold coin sits on one hundred gram gold bars at Gold Investments Ltd. bullion dealers in this arranged photograph in London, U.K., on Wednesday, July 29, 2020. Gold held its ground after a record-setting rally as investors awaited the outcome of a Federal Reserve meeting amid expectations policy makers will remain dovish, potentially spurring more gains. Photographer: Chris Ratcliffe/Bloomberg , Bloomberg
(Bloomberg) Gold advanced after its first weekly decline in four as U.S. Treasury Secretary Janet Yellen said the presidentâs economic plan wonât stoke inflationary pressures. Palladium gained.