After two straight days decline Major Indices rallied and ended higher with Nasdaq leading
The continuous losses were attributed to the fear of investors towards COVID-19 resurgence. With that out of the way, what’s left is the concerns over possibility of increase in consumer market pricing as well as company input costs.
The Dow Jones Industrial Average and the S&P 500 Index both managed to reverse earlier losses and converted them into gains. The Dow stepped up by more than 300 points or almost 1%, while S&P moved forward with less than 40 points increase or 0.93%. NASDAQ Composite Index, on the other hand, went against the odds gaining over 160 points or 1.12% despite Netflix losing over 7% after the print on their first quarter gains were released. Netflix reported that their gains were lower than expected for Q1 of 2021.
Below is the brief rundown of the market’s movement;
– NASDAQ Composite Index ended at 13,950 gaining 163.95 points or 1.12%
– The Dow Jones Industrial Average increased by 316.01 points or 0.93% and closed at 34,137
– The S&P 500 Index spiked up by 38.48 points or 0.93% to close at 4,173
– Japan’s Nikkei 225 outperformed by 2.38% or 679.62 points
– Hong Kong’s Han Sen moved forward with 133.42 points or 0.47% gain
– U.S. 2 Year Treasury yield decreased 0.002 basis points or 1.24% and closed at 0.151
– U.S. 5 Year Treasury yield went up by 0.003 basis points or 0.40% at 0.802
– U.S. 10 Year Treasury yield gained 0.002 basis points or 0.12% and ended 1.559
Commodities and global currencies traded mixed with crude dropping less than 1%.
– Gold stepped up to $1,795.10 per ounce after gaining $16.70 or 0.94%
– Silver now at $25.86 per ounce with a 0.20% gain or $0.05
– Western Texas Intermediate Crude dropped 0.54% and now at $61.02 per barrel
– Brent crude now at $64.92 per barrel after tripping 0.61%
– U.S. Dollar Index dropped by 0.10% at 91.07
– Euro got up by 0.15% closing 1.20532 vs USD
– Yen tumbled down by 0.08% at 107.966 against USD
– British Pound tripped by 0.14% at 1.3910 versus USD
– Canadian Dollars gained by 0.06% at 1.2538 vs USD
For more financial related news and advisories browse as at Redwood Capital Management Limited website and you may also check what service can we offer for your own financial needs.
For more information, visit: https://redwoodcapitalmanagementltd.com/
