Morning wrap (14.04.2021)

8:39 am 14 April 2021

  • US indices finished yesterday's trading mixed. S&P 500 gained 0.29%, Nasdaq added 1.05%, Dow Jones dropped 0.20% and Russell 2000 declined 0.22%

  • Stocks in Asia traded mostly higher. S&P/ASX 200 gained 0.6%, Kospi moved 0.5% higher and indices from China advanced. Nikkei was a laggard as it dropped 0.3%

  • DAX futures point to a higher opening of the European session

  • The Reserve Bank of New Zealand kept interest rates unchanged at today's meeting as well as refrained from making changes to its lending and asset purchase programmes. RBNZ reminded that the economic outlook remains highly uncertain.

  • Use of Johnson & Johnson coronavirus vaccine has been paused in all 50 US states amid blood clot cases. Vaccine rollout in Europe has also been delayed

  • Moderna released long-term trial results showing a 90% effectiveness 6 months after receiving second dose

  • Japanese machinery orders declined 8.5% MoM in February (exp. +2.4% MoM)

  • API report pointed to a 3.61 million barrel decline in oil inventories

  • Bitcoin trades at fresh record highs near $64,000. Coinbase, US largest cryptocurrency exchange, will go public on Wall Street later today

  • Precious metals trade mixed - gold and palladium drop while platinum and silver gain. Oil trades slightly higher. Industrial metals trade mixed

  • NZD and AUD are the best performing major currencies while CAD, USD and CHF lag the most

Nasdaq 100 (US100) managed to jump above the mid-February peak and has reached a fresh record high. US tech index trades just a touch below the 14,000 mark and it could turn out to be a short-term psychological resistance . Source: xStation5

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