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

By: Miguel A. Rodriguez

10:47, 06 May 2021

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%.



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%.


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This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.