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The end of April marks a turbulent month full of earnings

April has been marked by volatility, as the Q1 earnings season sent the markets flying. Big tech has been the strongest.

Stocks end the month with a green close

With statistics showing inflation is falling, the Fed may be able to take a breather following their expected rate rise next week. This sent US markets higher on Friday and Treasury rates down.

While gains were seen across the board for major US stock indexes, the Nasdaq was held back by a decline in Amazon shares. Shares of Amazon fell by more than 4% after the company posted better-than-expected earnings but warned of slowing growth in the cloud.

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The stock of Intel Corporation rose by almost 4% after the company reported earnings above expectations, driven by growth in its data center segment. Dow Jones increased by 0.45%, the S&P 500 advanced by 0.47%, and the Nasdaq rose by 0.32%.

Generally speaking, Treasury yields went down as inflation showed signs of slowing.
The yield on benchmark 10-year notes changed from Thursday night’s close to 3.528% to their current level of 3.4465%. The yield on 30-year bonds changed from 3.756% to 3.6742%.

us 30y

US 30-year yield chart, source: CNBC

The US dollar rides the hiking train

Still high inflation numbers boosted the US dollar. Inflation is falling, but the Fed will almost certainly raise rates in May. This may be the final rate increase for a while.

The euro fell to $1.1017, contributing to a 0.9% increase in the dollar index. While the euro finished the day at par with the dollar, April’s closing price was above 1.10, marking the second consecutive month of gains.

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Meanwhile, the yen declined generally after the Bank of Japan confirmed the expected maintenance of ultra-low interest rates and a unanimous decision to maintain its policy. The value of the dollar for the Japanese yen decreased by 1.65%, bringing the rate to 136.23.

On the day, the pound gained 0.62%, closing at $1.2564. April is also in the green, making it the second month in a row. On April 28th, the Aussie was down 0.2%, and hence had another losing month, making it three in a row.

Oil claws back up, however, not enough to end the month higher

After being in the negative for the greater part of 10 months, crude prices spiked on the final trading day of April. However, April’s overall performance was negative despite this increase.

WTI for June delivery closed at $76.78, up $2.02, or 2.7% on the day. The price of the US crude benchmark fell by 1.4% for the week. Brent for June delivery closed up 2.5% at $80.2 on the London market.

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The gold bears certainly fought well and kept the price below $2,000 on April’s last trading day. The yellow metal ended in the red, however flat at $1,997,75. For the month, gold scored a fat green candle.

 Silver, on the other hand, edged ever so slightly higher, with a 0.41% green end. The silver bulls kept the price firmly above the $25 mark even though they were under a lot of pressure. As for the month, it is the second green candle in a row.

Tomáš is a financial reporter with US markets as his main field. Tomáš is an aspiring author and entrepreneur aspiring to help people get better in financial knowledge.


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