Corporate earnings helped to set a positive tone on the markets - Wednesday Review, May 5

Corporate earnings helped to set a positive tone on the markets - Wednesday Review, May 5

Most Asian markets continue to be closed for holidays

The US

Wall Street closed the day in a mixed fashion, as the busiest week of earnings reports is almost done. USA30 rose 0.28%, while USA500 was up 0.1%. TECH100 fell 0.37%, closing lower for the second day, as the tech selloff continued, with companies like Peloton and Netflix dropping more than 1% each.

Crude oil traded 1.1% higher at $66.45 per barrel.

Gold was up 0.62% to $1,787.05 an ounce.

The Dollar Index was up 0.37% at 91.265.

Asia and Australia

The closures in major markets softened the impact of US Treasury Secretary Janet Yellen’s comments regarding inflation.

Japanese and Chinese markets were closed in observance of Children’s Day and Labor Day, respectively.

USD/JPY traded at 109.20 after it fell 0.12%.

Europe

Stocks traded higher, recovering from Tuesday’s late pullback in the tech sector, as investors focused on new earnings data. Germany30 traded 1.4% higher, while France40 rose 0.9%. UK100 climbed 1.1% ahead of Bank of England’s policy decision.

Brent oil rose 3.2% to $69.72 a barrel.

EUR/USD traded at 1.1994 after it went down 0.2%.

Sources: investing.com, reuters.com

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