As of Sat, Apr 13, Singapore Time zone UTC +8
Dollar Index -0.22%, $96.97
USDJPY, +0.32%, $112.03
EURUSD, +0.44%, $1.1302
GBPUSD, +0.21%, $1.3083
USDCAD, -0.48%, $1.3322
AUDUSD, +0.69%, $0.7173
NZDUSD, +0.51%, $0.6762
U.S. Treasuries were under selling pressure, which drove yields noticeably higher. The 2-yr yield increased four basis points to 2.39%, and the 10-yr yield increased six basis points to 2.56%. The U.S. Dollar Index lost 0.22% to 96.97. WTI crude increased 0.4% to $63.91/bbl.
There’s been talk about recessions, trade tensions between the EU and US are escalating and still no final resolution to US-China trade talks or Brexit. Yet investors retain a healthy risk appetite because bank earnings are strong and that policy accommodation abroad will help mitigate a deep slowdown in global growth.
In Brexit on Friday, the United Kingdom missed its second Brexit deadline. By accepting the European Union’s offer to remain until October 31, Theresa May all but guaranteed that the UK, which voted to leave the EU nearly three years ago, will participate in the European parliamentary elections next month.
S&P500, +0.66%, 2,907.41
Nasdaq, +0.44%, 7,628.15
Nikkei Futures, +0.88%, 21,860.0
S&P 500 gained 0.66% on Friday, as a strong earnings report from JPMorgan Chase (JPM 111.21, +4.98, +4.7%) and a buoyant response to Walt Disney’s (DIS 130.06, +13.46, +11.5%) upcoming streaming service helped offset losses from the health care stocks. DIS was resumed with an Overweight rating at JP Morgan with a price target of $137. The announcement and the overwhelmingly positive response contributed to a 4.5% decline in Netflix (NFLX 351.14, -16.51). Friday’s advance also helped the benchmark index close above the 2900 level for the first time since early October.
JPMorgan kicked off the first quarter earnings-reporting season with record revenue and net income, fueling broad-based gains in the S&P 500 financial sector (+1.9%). Wells Fargo (WFC 46.49, -1.25, -2.6%) and PNC Financial Services (PNC 132.70, +3.98, +3.1%) also provided better-than-expected results, but Wells Fargo lowering its outlook for FY19 net interest income sent shares lower.