London, Friday, 8 April 2022
US Markets Summary
The Dow closed in the black on Friday, gaining more than 100 points, boosted by advances in oil and financials companies, while the Nasdaq fell 1% and the S&P 500 fell 0.3 percent as a result of the tech selloff.
Despite this, markets fell on the week due to persisting concerns about economic growth as a result of out-of-control inflation and aggressive monetary policy tightening.
High-growth equities have fallen the most, as the potential of increased interest rates threatens to undercut the valuations of tech companies in particular.
The bleak outlook was exacerbated by rising tensions between the West and Russia.
New sanctions on Russia have been imposed by the United States and the European Union, including an embargo on Russian coal imports.
European Markets Summary
On Friday, European equities markets ended on a positive note, with the STOXX 600 index rising 1.2 percent and Germany's DAX rising 1.3 percent, snapping a three-day losing streak.
Almost every sector finished higher, with oil and gas stocks leading the way with a 3.2 percent gain. Investors digested a more hawkish Fed and the likelihood of tighter monetary policy around the world, as well as fears about an economic slowdown amid rising inflation and the still-unresolved conflict in Ukraine.
Meanwhile, traders will be watching the first round of the French presidential election on Sunday, as polls show far-right candidate Marine Le Pen gaining in on Macron.
On a weekly basis, European stocks registered their second weekly gain, with the Stoxx 600 gaining 0.5 percent thanks to the healthcare, utilities, and foods & beverages sectors, while the DAX fell 1.2 percent.
U.S. Stock Market Indexes as at 4:00 p.m. ET
S&P 500: -11.53 (-0.26%) to 4,488.68
Nasdaq: -186.30 (-1.34%) to 13,711.00
Dow Jones: +139.46 (+0.40%) to 34,723.03
European Stock Market Indexes
STOXX Europe 600: +5.95 points, or 1.31%, to finish at 460.97 points
FTSE 100 in London: +117 points, or 1.56%, to 7,669
DAX 30 in Germany: +points, or 1.46%, to end the day at 14,283
CAC 40 in France: +86 points, or 1.34%, to close at 6,548
FTSE MIB 30 in Italy: best performer of the day, + 516 points, or 2.13%, to 24,819
IBEX 35 in Spain: +139 points, or 1.64%, to end the day at 8,606
Ten-year U.S. Treasury note: +6.1 bps to yield 2.7130%
Dollar index: +0.11 or +0.11% at 99.86 as on Apr 8, 2022 4:22 p.m. EDT
VIX volatility index: −0.39 (1.81%) at 21.16 as on 8 Apr, 15:15 GMT-5
Brent Crude Oil Continuous Contract: -0.02 or -0.02% at $ 102.71 per barrel as on Apr 8, 2022 at 9:26 p.m. BST
Crude Oil WTI (NYM $/bbl) Front Month: +2.02 or + 2.10% at $ 98.00 per barrel as on Apr 8, 2022 at 4:27 p.m. EDT
Gold: + +12.16 or +0.63% at $1,945.64 an ounce as on April, 08 2022 at 16:38 NY Time
Silver: +0.11 or +0.47% at $ 24.75 an ounce as on April, 08 2022 at 16:38 NY Time
Bitcoin: −668.50 (1.54%) at $ 42,783.60 as on 8 Apr, 20:40 UTC
Ethereum: +17.95 (0.56%) at $ 3,245.22 as on 8 Apr, 20:39 UTC
(Written and edited by: The Decision Maker)