Daily Report

3 de Maio de 2024
Financial Markets | daily report 03.05.2024
  • In yesterday's session investors continued to assess the Fed's next move regarding interest rates following Wednesday's FOMC meeting. In particular, markets seem to have taken Powell's downplay of the possibility of hiking rates given the recent inflation figures as a confirmation that the next move will be a cut.
  • In this context, yields on sovereign bonds fell on both sides of the Atlantic and equities powered ahead in the US led by tech giants amid what is turning out to be a positive earnings season for most. Euro area equities were mixed, with the Ibex-35 advancing mildly led by Sabadell shares after BBVA announced its merger intentions.
  • Elsewhere, the US dollar posted the largest decline so far this year, leaving its cross with the euro around $1.07 and at 153 yen/dollar. Oil prices held steady close to $83/barrel of Brent under pressure from rising inventories in the US. Today's focus will be on the US employment report. Yesterday's data showed unemployment benefit claims held steady.