big picture today
Asia-Pacific stock markets closed the day higher except for Hong Kong’s Hang Seng, which fell 0.66% led by consumer durables. Australia’s ASX All Ordinaries rose 0.20%, Japan’s Nikkei and South Korea’s KOSPI both rose just over 0.30% and China’s Shanghai Composite rose 0.49%. Markets in India are closed today in recognition of the Jain holiday that marks the birth of Mahavir Jayanti. Mahavir Jamma KalyanakMarkets in Taiwan have closed again in honor of Children’s Day.
The European market is up across the board in intraday trading. U.S. stock futures show a positive open as investors reconsider the impact of higher oil prices on the economy and on the Fed’s monetary policy. Yesterday, Federal Reserve Governor Lisa Cook said a disinflationary process was underway as wage growth slowed, even though current inflationary pressures warrant further tightening. rice field. Investors will seek confirmation of a softening in wage pressures in tomorrow’s March ADP National Employment and Pay Insights Report and Friday’s March Employment Report as the market expects an end to the current tightening rate cycle. prize.
data download
international economy
The Reserve Bank of Australia has decided not to change its cash rate target to 3.60% and the interest rate on exchange settlement balances to 3.50%. The Board has decided to hold interest rates steady this month to provide additional time to assess the impact of rate increases so far and the economic outlook.
Eurozone producer prices fell 0.5% from the previous month in Feb, beating market expectations for a 0.3% decline. Excluding energy, however, producer prices rose 0.2% month-on-month in February, easing from his 1.1% gain in January. On a year-on-year basis, producer price inflation eased to 13.2% in February, down from a revised 15.1% in January and slightly below market expectations of 13.3%.
The latest European Central Bank survey shows eurozone consumers cut their inflation expectations to 4.6% in February from 4.9% in January.
domestic economy
February Factory Orders and JOLTs Jobs Report will also be available in February at 10am ET. Factory orders for February are expected to fall 0.5%, following his 1.6% decline in January. Job openings are expected to fall to 10.4 million in February from 10.824 million the previous month. Whether these expectations, if realized, will be sufficient to offset the impact of energy-related inflation remains to be seen, but will be scrutinized.
market
Unsurprisingly, energy was up 4.53% yesterday, with healthcare being the second biggest sector gainer, up 1.12%. The remaining sectors were mixed with the biggest drag from consumer discretionary (-0.92%) and real estate (-0.94%). Indices were also mixed, with the Dow (0.98%) and S&P 500 (0.37%) closing out ahead, the Russell 2000 ending the day flat with his 0.01% drop, and the Nasdaq Composite down his 0.27%. Started the week with a drop. In private terms, PPG Industries (PPG) rose 4.84% after the company raised its EPS guidance for the quarter and Morgan Stanley analysts raised their price target by about 17% to his $140. bottom.
Here’s how the key market indicators stack up year-to-date:
- Dow Jones Industrial Average: 1.37%
- S&P 500: 7.42%
- Nasdaq Composite: 16.46%
- Russell 2000: 2.33%
- Bitcoin (BTC-USD): 67.75%
- Ether (ETH-USD): 51.33%
Featured stock
Before the US stock market opens today, Acuity Brands (AYI), Lindsay Corp. (LNN)and MSC Industrial (MSM) We plan to report quarterly results.
in him Annual Letter to Shareholders, JPMorgan Chase (JPM) CEO Jamie Dimon said the effects of the recent bank failures will be felt for years to come, but recent events were “not like what happened during the 2008 global financial crisis. (There was little impact on local banks.)
According to data released by the China Passenger Vehicle Association in China, Tesla (TSLA) sold 88,869 Chinese electric vehicles (EVs) in March, up 35% year-on-year and up 19.4% month-on-month.The same data show that Chinese automakers BYDDF China’s EV sales in March were 206,089 units, up 97.5% year-on-year, leading all brands.
Butterfly Network (BFLY) received 510(k) clearance for its groundbreaking AI-enabled automated B-line counter. This could simplify how healthcare professionals assess adults with suspected decreased lung function and improve their ability to make informed treatment decisions at the point of care.
Outdoor Recreation and Shooting Sports Products Company Vista Outdoor (VSTO) announced a cost reduction and revenue improvement program expected to amount to more than $50 million. This includes office closures, spending cuts and headcount reductions.
American Airlines (AAL) will cut some New York City flights this summer after the FAA temporarily relaxed minimum flight requirements. Last month, the FAA agreed to the following demands: Delta Air Lines (DAL) and United Airlines (UAL) Temporarily returning up to 10% of slots and flight timings at busy New York LaGuardia Airport, John F. Kennedy International Airport, Newark and Ronald Reagan Washington National Airport, citing a shortage of air traffic controllers.
Walmart (WMT) plans to cut more than 2,000 jobs at its e-commerce warehouse.
according to reports Warner Bros. (WBD) is nearing a deal with author JK Rowling to produce a TV series for HBO Max based on the best-selling Harry Potter franchise.
IPO
In the near future, the schedule for such activities seems rather slim. Readers interested in learning more about the upcoming IPO calendar should visit Nasdaq’s Latest & Upcoming IPOs page.
After today’s trading
Resources Connection (RGP) and SMART Global (SGH) will report quarterly results after the stock ceases trading. For more information on which companies report when, see the Nasdaq earnings calendar.
on the horizon
Wednesday, April 5th
- Japan: Nikkei S&P Global Services PMI – March
- Eurozone: S&P Global Services PMI – March
- UK: S&P Global Services PMI – March
- USA: Weekly MBA Mortgage Applications
- United States: ADP Job Change Report – March
- US: S&P Global Services PMI – March
- United States: ISM Nonmanufacturing Index – March
- United States: Weekly EIA Crude Stocks
Thursday, April 6th
- China: Caixin Service PMI – March
- US: Weekly Initial and Continued Unemployment Claims
- United States: Weekly EIA Natural Gas Inventory
Friday 7th April
- United States: Employment Report – March
- United States: Consumer Finance – February
today’s thoughts
“Without ambition nothing starts. Without work you never finish anything. We won’t send you prizes. You have to win it.” ~Ralph Waldo Emerson
