- Thursday's session in the financial markets proceeded in a positive mood until the close of the cash session on the Old Continent.
- Germany's DAX closed 0.45% higher, France's CAC40 added 0.52%. Shares of Sartorius lost more than 15% amid Q1 results suggesting business slowdown
- Wall Street is currently dominated by declines, even though we initially saw increases here as well. The benchmark S&P500 is down 0.2% at the time of publication, with the Nasdaq losing 0.31%. Nearly 0.15%, however, is recorded by the Russell 2000 index.
- Taiwanese giant TSMC loses today more than 4% despite stronger than expected Q1 results. Nvidia gains 0.5% and SuperMicro loses almost 2%
- Meta Platforms shares are gaining more than 2% today after Bernstein raised its target price and debuted its LLama 3 language model, which the company will make available in its applications today
- After the close of today's session on Wall Street, Netflix will present its results.
- In the FX market, the Canadian dollar and the US dollar are currently leading the gains. Much weaker performers include the New Zealand dollar and the euro.
- The USD's strength today was fueled by hawkish comments from bankers and spoiling sentiment in the latter part of the session. Raphael Bostic of the Fed communicated that interest rate cuts before the end of 2024 are unlikely.
- Also, Fed Williams suggested that Fed definitely will not hurry with cutting rates and markets now see only one fully-priced Fed rate cut, in November 2024
- USD quotes were also supported by lower-than-expected unemployment benefits data and a much higher reading on the FED's Philly regional data.
- An extension of the "risk-off" wave also propelled precious metals during today's session. Gold and silver gained close to 1% at the time of publication.
- The ECB's Holzmann suggested that in the absence of any US cuts, 3-4 rate cuts in the Eurozone seem uncertain to him
- Cryptocurrency sentiment improved slightly, with Bitcoin managing to rise from $61,000 to $64,000 today but altcoins sentiment remains weak
- Cocoa prices are up more than 8.8%, climbing to new historic highs above $11,000 per ton. The increases intensified during the opening of U.S. trading, although it is worth noting that prices opened with a bullish gap today, following this morning's release of processing data from Europe and Asia. The processing data can be viewed as demand data and indicates that despite high prices, cocoa consumption is still high, with no demand destruction on the horizon
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.