Financial Markets Daily Report
04 May 2021

Investors traded with cautious optimism at the start of the week, looking through the persistent threat of the pandemic while focusing instead on the relative success of the vaccine rollouts in much of the developed world.

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  • Investors traded with cautious optimism at the start of the week, looking through the persistent threat of the pandemic while focusing instead on the relative success of the vaccine rollouts in much of the developed world.
  • Investors piled into shares of economically sensitive companies and pulled back from technology stocks as the market digested surveys pointing to robust growth in the US and eurozone manufacturing sectors. The S&P 500 was up 0.3% after closing out its third consecutive month of gains in April. By contrast, Asian stocks were mixed on Tuesday.
  • Ten-year Treasury yields dropped back to around 1.6% in the U.S. trade amid comments from Federal Reserve Chair Jerome Powell that the economic recovery is patchy.
  • There are no major data releases in the economic calendar today, except for international trade and factory goods orders for the US.
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