- Markets extend Thursday’s gains, confirm weekly gains.
- The dollar weakens due to lower yields on Treasury bonds.
- Limited tours predominate in the first half of Friday.
Futures of the main Wall Street indexes are rising, continuing Thursday’s advance. The rises also cover European markets. The dollar falls modestly.
Shares validate weekly gains
The S&P 500 closed Friday up 0.95% and on Friday in the preview it is up 0.72%. In London the FTSE 100 rises 1.31%, in Paris the CAC 40 climbs 1.93% and in Frankfurt the DAX advances 0.96%.
The rises follow a two-day exhibition by Jerome Powell, the president of the Federal ReserveAlready bad economic data in Europe and the US This is generating a relief in the expectations of monetary adjustment by the central banks, although in the short term there are no changes in the direction and magnitude of the rate hikes.
The Treasury bond yields and in Europe are falling. The US 10-year bond is at 3.10% and the 30-year bond is at 3.22%, a far cry from recent highs. This, plus the rise in the stock markets, is playing against the dollar, which falls modestly against the G10 currencies, and operates mixed against those of emerging markets. Among the latter, the Russian ruble and the Mexican peso are the best of the week. On Thursday, the Bank of Mexico raised the benchmark interest rate by 75 basis points to 7.75%.
In the US, the final reading of the University of Michigan consumer confidence index and the new home sales report will be published on Friday. Also speaking will be James Bullard, the president of the St. Louis Fed, and Mary Daly of the San Francisco Fed. Huw Pill and Jonathan Haskel from the Bank of England and Luis de Guindos from the European Central Bank will also speak.
The prices of Petroleum they rise modestly on Friday, but remain in the range of recent sessions. The barrel of WTI is located above $105.00. Black gold is headed for the first monthly decline in seven months. The Baker Hughes oil rigs report will be released on Friday.
The metals They do not register major variations on Friday, validating the losses of Thursday. Gold is at $1825 (near one-week low) and silver at $20.85 (one-month low). Cryptocurrencies are making up ground. Bitcoin is over $21,200.
netflix rises 1.10% in the premarket after the announcement that it will cut 300 jobs. FedEx up nearly 3% after posting an 8% rise in revenue in the first quarter. Zendesk rises 52% after reports of a deal with potential buyers. Among the companies reporting results on Friday is Car Max Y Carnival.
Technical levels
Source: Fx Street
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