US Equity markets were mixed last night with a strong performance from the financial sector pushing the Dow to intra day all time highs whilst a tech sell off dragged down the NASDAQ and S&P.
JPMorgan and Goldman Sachs reported strong revenue figures pushing the Dow into positive territory and paring some of the losses in the S&P.
Investors will be watching tonight’s figures from financial titans Bank of America and Citigroup to see if this trend continues.
After Tuesday’s CPI print that showed consumer prices may be rising at an inflationary pace, NASDAQ listed tech stocks sold off as investors resumed rotating from growth to old economy value stocks.
Economic announcements
Traders will be looking ahead to a key print on the strength of the U.S. consumer tonight, with March retail sales report due for release. The consensus is 5.8% jump in monthly retail sales, due to stimulus and easing of COVID restrictions.
Australian Employment Change and the unemployment rate for March will be released at 11:30 AEST, after last month’s blockbuster beat in job numbers, analysts have forecast 35.2K new jobs added and a reduction in the unemployment rate to 5.7%.
US Dollar
The US Dollar index continued its downtrend with all major currencies rallying against the greenback overnight.
Comments from Fed Chairman Powell overnight that “Most Fed officials didn’t see raising rates until 2024” and 10 year bond yields dropping has created a strong headwind for any near future US dollar strength.
Source: Twitter
Friday, 16 April 2021 Indicative Index Dividends Dividends are in Points |
||||||
ASX200 | WS30 | US500 | US2000 | NDX100 | CAC40 | STOXX50 |
0.32 | 7.106 | 0.069 | 0.036 | 0 | 0 | 0.566 |
ESP35 | ITA40 | FTSE100 | DAX30 | HK50 | JP225 | INDIA50 |
0 | 0 | 0 | 0 | 0 | 0 | 0 |
Disclaimer: Articles are from Astro Fx Base analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by Astro Fx Base. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
Last week marked a significant milestone for NIO when it produced its 100,000th electric vehicle. The latest development also caught the eye of Tesla CEO Elon Musk, to which he responded: ''Congrats to NIO. That is a tough milestone.'' On Thursday, NIO officially confirmed its partnership with Sinopec – taking a major step forward in the compa...
JPMorgan and Goldman Sachs reported their Q1 earnings before the opening bell on Wednesday – both beating analysts' forecasts. JP Morgan & Co...