Traders Edge : Thursday 01 April
Global Markets Update
- U.S. equity markets closed mostly higher overnight, with the S&P 500 up +0.4%, Dow Jones down -0.3% and NASDAQ gaining +1.5%, after data revealed U.S. private employers in March added the most jobs in six months with payrolls increasing by 517,000 in the month.
- Long-dated U.S. treasury yields were higher, with the 2-Yr yield at 0.160% and the 10-Yr yield at 1.740%.
- European markets. European equity markets closed mostly lower overnight, with the Stoxx Europe 600 down -0.2%, UK FTSE 100 down – 0.9% and German DAX closing flat amid signs that Europe is yet again losing control of the pandemic with France announcing a four-week lockdown starting Saturday and Italy’s cabinet extending restrictions on movement and business openings. The World Trade Organization raised its projection for growth in global merchandise trade in 2021 to 8%, the biggest increase since 2010, a significant bounce from -5.3% contraction in 2020. IMF warned the world economy is at risk of being scarred by the pandemic, estimating it to be ~3% smaller by 2024 than anticipated before the Covid-19 outbreak.