Earnings Updates, Central Bank Policies and Oil Demand Keep Market Mood Mixed

Earnings updates and anxiety over major central banks’ monetary policies kept the market’s mood mixed in Tuesday’s trading. The Reserve Bank of Australia raised rates by 25 basis points, ahead of the Federal Reserve’s review on Wednesday and the Bank of England’s decision on Thursday. Asian markets closed in the red, but earnings euphoria pushed European stocks higher. Wall Street futures are close to the flat line.

The Dollar Index has retreated from recent highs. Crude prices fell amid renewed concerns over future oil demand and despite a possible EU ban on Russian oil. Bond yields rose in all geographies and the yield on ten-year U.S. Treasuries hit a three-year high ahead of the Fed’s interest rate decision on Wednesday. Soaring bond yields and concern over the Fed’s decision drove gold prices lower. Cryptocurrencies trade in a mixed fashion.

Here is an overview of global markets at this time across stocks, currencies, bonds, commodities and cryptocurrencies.

Stock indices:

DJIA (US30) at 33,075.20, up 0.04%
S&P 500 (US500) at 4,158.80 up 0.08%
German DAX at 14,021.15, up 0.59%
Britain’s FTSE 100 at 7,517.56, down 0.36%
The French CAC 40 at 6,481.76, up 0.87%
Euro Stoxx 50 at 3,758.65, up 0.70%
Japan’s Nikkei 225 at 26,818.53, down 0.11% (May 2)
Australian S&P ASX 200 at 7,316.20, down 0.42%
Shanghai Chinese Composite at 3,047.06, up 2.41% (April 29)
Hong Kong’s Hang Seng at 21,081.00, down 0.04%

Currencies:

EURUSD at 1.0509, up 0.04%
GBPUSD at 1.2539 up 0.38%
USDJPY at 130.15, up 0.00%
AUDUSD at 0.7104, up 0.83%
USDCAD at 1.2871, down 0.05%
Dollar Index at 103.49, down 0.24%

Ten-year government bond yields:

United States at 3.001%, up 0.15%
Germany at 1.0015%, up 4.43%
France at 1.526%, up 2.76%
UK at 2.0220%, up 6.03%
Japan at 0.224%, down 0.44%

Amenities:

WTI Crude Oil Futures (June) at $104.06, down 1.06%
Brent oil futures (July) at $106.38, down 1.12%
Gold futures (June) at $1,853.01, down 0.57%

Cryptocurrencies:

Bitcoin at $38,559.20, down 0.86%
Ethereum at $2,847.23, up 0.34%
BNB at $389.69, up 0.08%
XRP at $0.6172, down 0.91%
Solana at $88.33, down 0.48%

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Market analysis

Steve R. Hansen