Morning wrap (29.04.2021)

• US indices finished yesterday's trading lower. S&P 500 closed 0.08% lower, Dow Jones dropped 0.48% and Nasdaq declined 0.28%. Russell 2000 gained 0.13%

• Stocks in Asia are trading higher. Nikke and S&P/ASX 200 gained 0.2%, Kospi trades flat and indices from China advance

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

• FOMC left monetary policy settings unchanged. Powell said that while US economy has improved, it is still too early to withdraw pandemic support

• US President Biden presented his infrastructure deal to the Congress and proposed to finance it with tax increases on the wealthy. There was no major market reaction to the event

• According to Washington Post, Biden administration is considering removing some of Trump's sanctions on Iran in order to progress nuclear talks

• United States will deliver supplies worth $100 million to India to help combat pandemic in the country

• Apple (AAPL.US) reported Q1 revenue of $89.58 billion (exp. $77.3 billion) and EPS of $1.40 (exp. $0.99). Solid results were driven by high demand for iPhones and other devices. Apple said that semiconductor shortages start to negatively impact Mac and iPad sales

• Facebook (FB.US) shares jumped in after-hours trading after the company reported Q1 results. Revenue came in at $26.2 billion (exp. $23.7 billion) while number of monthly active users reached 2.85 billion (exp. 2.83 billion). EPS reached $3.30 (exp. $2.34)

• Bitcoin tested $53,000 mark this morning

• Precious metals, industrial metals, oil and agricultural goods are trading higher

• GBP is the best performing major currency while JPY lags the most

Gold benefits from post-FOMC USD weakening. Precious metal recovers from a recent, brief pullback and looks towards recent local high at $1,795. Source: xStation5