Commodities-Gold-Market Movers-News-Tech

32 Recent Stories to Keep You Informed About the Financial Markets Today

Published on May 1, 2017 at 11:58 am by Insider Monkey Staff in Commodities, Gold, Market Movers, News, Tech

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1. U.S. Stock Market:

“U.S. stock-market benchmark traded firmly higher, with shares of Apple hitting a record, as investors digested a raft of economic reports and looked ahead to the start of the Federal Reserve’s policy meeting on Tuesday. The S&P 500 index SPX, +0.35% was up 9 points, or 0.4%, to 2,393, with seven of the 11 main sectors trading in positive territory. The Dow Jones Industrial Average DJIA, +0.06% which dipped in and out of negative territory, last traded 22 points, or 0.1%, higher at 20,961, pressured by a 1% decline in Dow component Boeing Co. BA, -1.15% as Apple Inc. and Microsoft Corp. MSFT, +1.42% shares led gainers. Meanwhile, the Nasdaq Composite Index COMP, +0.84% was up 49 points, or 0.8%, to 6,097, setting a fresh intraday high, briefly touching an all-time intraday high of 6,100.73, less than a week after first reaching the psychologically significant level of 6,000 on April 25.”

(Market Watch)

“U.S. equities opened higher on Monday after the government avoided a shutdown while Wall Street braced for a week filled with key economic data and earnings. The Dow Jones industrial average rose about 20 points shortly after the open, with Apple contributing the most gains. The S&P 500 gained 0.2 percent, with financials and information technology leading advancers. The Nasdaq composite outperformed, rising 0.35 percent.”

(CNBC)

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2. U.S. Bond Market:

“U.S. bond prices fell on Monday after a deal was reached to fund the government avoiding a shutdown. Congressional negotiators worked through the weekend to hash out an agreement on around $1 trillion in federal spending. The yield on the benchmark 10-year Treasury note was higher at around 2.287 percent, while the yield on the 30-year Treasury bond was also higher at 2.959 percent. Yields move inversely to prices.”

(CNBC)

“US 10-year Treasury yields eased in the second half of last week. They slipped five basis points in the last three sessions, but ticked up today. However, it still is struggling to re-establish a foothold above 2.30%.”

(Seeking Alpha)

3. FX Markets:

“The dollar advanced Monday against the Japanese yen as most European markets were closed for the May Day holiday. The greenback USDJPY, +0.14% climbed to ¥111.71 in recent trade, compared with ¥111.53 late Friday in New York. The euro EURUSD, +0.1377% edged higher, trading at $1.0909 Monday morning New York Time, after former Prime Minister of Italy Matteo Renzi won more than 70% of the vote in a primary election held over the weekend that elevated him to the leadership of Italy’s largest establishment political party. The British pound GBPUSD, -0.1853% traded at $1.2928, compared with $1.2949 late Friday.”

(Market Watch)

“The dollar shrugged off early modest losses in holiday-thinned Asian trading on Monday, while solid European inflation data underpinned the euro. The dollar index .DXY, which tracks the greenback against a basket of six rival currencies, edged up 0.1 percent to 99.144 .DXY. Against its Japanese counterpart, the dollar nudged 0.1 percent higher to 111.68 JPY=. The euro was steady on the day at $1.0894 EUR=, underpinned by solid euro zone inflation figures on Friday that analysts said could prompt the European Central Bank to take a more hawkish tone in its June statements.”

(Reuters)

4. Commodities:

“Gold and silver prices are modestly lower in early U.S. trading Monday. There were no major geopolitical developments over the weekend to rattle the markets and that’s bearish for safe-haven gold. June Comex gold was last down $3.70 an ounce at $1,264.60. July Comex silver was last down $0.101 at $17.09 an ounce. While traders and investors worldwide remain generally upbeat at present, there are still geopolitical fires smoldering, including U.S. relations with North Korea and Russia. These issues are not going away anytime soon.”

(Kitco News)

“Crude futures eased Monday, knocked by concerns whether ongoing production cuts by producers in the Middle East and Russia was enough to offset the increasing U.S. oil being pumped into the still oversupplied market. Brent crude, the global oil benchmark, fell 0.3% to $51.90 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading down 0.2% at $49.22 a barrel.”

(Fox Business)

“Crude oil prices are under pressure due to the factors mentioned above. Prices are trading below their 20-day, 50-day, 100-day, and 200-day moving averages of $51.3, $51.4, $53.2, and $51.7 per barrel as of May 1, 2017. It suggests more pain for oil prices. Any rise in supplies from the US could pressure crude oil prices. For more on crude oil price forecasts, read the last part of the series.”

(Market Realist)

5. Market Movers:

Finally some good news for Twitter Inc (NYSE:TWTR) investors. The stock is up 5 percent after CEO Jack Dorsey said he bought 574,000 shares of the companylate Friday afternoon for about $9.5 million. Dorsey has purchased about 1 million shares to date in 2017. The company also announced a partnership with Bloomberg on Monday to launch a streaming video channel running 24 hours a day, seven days a week. That news was first announced by The Wall Street Journal. Bloomberg’s and Twitter’s streaming news network will be created just for the platform. The two previously worked together to livestream the presidential debate in September.

(CNBC)