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European indices ended today's trading higher, trying to confirm yesterday's rebound. The biggest winner was the French FRA40 (+1.77%) and the loser was the Austrian AUT20 (+0.27%).;
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Wall Street indices also dominated the gains, with the US100 index leading the way, trading over 3.2% higher at the moment. Only the industrial US30 (+1.85%) is up less than 2%.;
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Today's macro data showed worse US GDP with better consumption. The second estimate of US GDP for Q1 comes out worse than the preliminary one. We have a decline to -1.5% in annualized rate from -1.4% and with expectations of 1.3%. Consumption, however, comes in better than expected, with growth at 3.1% on expectations of 2.8% and on the previous estimate of 2.7%.;
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Twitter (TWTR.US) shares are gaining more than 5.6% after news that Elon Musk will complete a deal to acquire the company using more of his private wealth. SEC filings show that Musk has committed $33.5 billion, up from his previous $27.25 billion.;
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U.S. airline stocks are seeing gains today due to optimistic forecasts from Southwest (LUV.US) and JetBlue (JBLU.US) for second-quarter earnings in 2022.;
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Nvidia (NVDA.US) presented a fairly solid quarterly report, but forecasts for Q2 2022 do not look too optimistic. The stock is currently gaining over 6%. ;
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EUR and CAD are the best performing major currencies, while NZD and USD remain the weakest.;
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In the commodities market we are seeing strong gains in crude oil and natural gas prices, which gained further after smaller-than-forecast builds of gas reserves. WTI is breaking out above the $114 level. Index gains have done little to stop bulls in the gold market, which is currently struggling to hold the $1850 level.;
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The crypto market is trying to unwind the strong sell-off from the early session on Wall Street. BTC negated more than 5% declines and is back in the area of $29,500 (-0.4%). Nevertheless, the supply side continues to dominate the entire market.
Today's session on the stock market was a day of one direction. The main stock indices from the Old Continent started the trade with small gains, which slowly progressed hour by hour. After the capital from the USA entered the market, the upward movement gained strength, which allowed the European indices to close the day at session highs. American indices are also doing well, with the Nasdaq performing best, adding almost 3%. Interestingly, although investors turned to risky assets, the complete opposite situation was observed on the cryptocurrencies market, which came under selling pressure. In the evening hours we can see a rebound, nevertheless all major digital currencies are trading under the bar.
The OIL.WTI left the local consolidation, which took the shape of a symmetrical triangle, after which new local maximums were established. If the price manages to stay above the level of $113.00, an attack on the upper limit of the broad upward channel, which coincides with the peaks of March 24 - near $116.60, is not ruled out. Source: xStation 5
