Traders Edge : Tuesday 06 April
Global Markets Update
- U.S. equity markets closed higher overnight, after solid U.S. economic data which revealed U.S. employers added the most jobs in seven months with improvement across most industries in March leading to nonfarm payrolls increasing by 916k and unemployment rate falling -20bps to 6%, added to evidence the recovery is gaining momentum. The S&P 500 was up +1.4% and NASDAQ gained +1.7%, led by Tech stocks after Google’s parent Alphabet Inc jumped as the U.S. Supreme Court ruled the company didn’t commit copyright infringement when it used Oracle Corp’s programming code in the Android operating system. The Dow Jones closed +1.1% higher. U.S. service providers experienced the fastest growth on record in March as measures of business activity and orders advanced to new highs.
- Long-dated U.S. treasury yields were lower, with the 2-Yr yield at 0.168% and the 10-Yr yield at 1.711%.
- European markets. European equity markets were unchanged, with the Stoxx Europe 600, UK FTSE 100 and German DAX closed for a holiday. U.K.’s Prime Minister Boris Johnson confirmed that restaurants and shops will open next week for the first time in four months, but the ban on foreign travel may remain for longer.