The global trade overview includes a range of reports, trends, indices, stock prices, bonds, foreign exchange, and commodities. In European stock markets, there is a positive trend with the FTSE rising by 0.4%, the DAX adding 0.3%, and the CAC in France increasing by 0.6%.
Meanwhile, the main indices in Asia are trading in a negative trend with the Nikkei falling by 1.5% and the Hang Seng losing 0.4%. The Shanghai Stock Exchange also experiences a decrease while the Kospi index rises slightly by 0.1%. In the US, futures are trading slightly lower as investors await major economic indicators due to be released later this week.
On Wall Street, technology giant Nvidia saw a 2% decrease in trading after investor Stanley Druckenmiller cut his investment citing concerns about the end of the artificial intelligence boom soon. Meanwhile, Apple announced new models of its tablets – iPad Air and iPad Pro – which were met with mixed reviews from analysts who questioned whether they were worth their price point.
In the American debt market, government bond yields are trading slightly higher with the 10-year bond at 4.47% and the two-year bond at 4.83%. Oil prices are also slightly lower at $78 per barrel for American oil and $82 per barrel for Brent as tensions between OPEC countries continue to rise over production cuts. The Central Bank of Australia left interest rates unchanged at 4.35%, but analysts expect them to rise again in coming months as inflationary pressures mount across Australia’s economy.
Looking ahead to next week’s economic calendar, significant macro data is expected to be published on Wednesday with industrial production data in Germany while on Thursday UK interest rate decision is expected to be released which could have a significant impact on international markets . Analysts are debating whether investors should “sell in May” after a negative month in April or hold on till June for better opportunities as Blackrock suggest reasons for investors to stay invested including alignment with Federal Reserve’s interest rate expectations , signs of weaknesses in employment market and increased buybacks by companies like Apple that could push up stock prices
