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Overnight on Wall Street: Tuesday 27 April 2021

27 April 2021 By Alphates

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Equity Markets

US Equity markets were mixed overnight on a muted session ahead of the upcoming two day FOMC policy meeting that kicks off today.

The Dow Jones finished slightly down with modest gains keeping the NASDAQ and S&P 500 near all time highs as traders await any indication from the Fed as to future rate moves or adjustments in guidance.

  • Dow Jones down 62 (0.18%)
  • NASDAQ up 122 (0.87%)
  • S&P 500 up 7 (0.18%)
  • Russell 2000 up 26 (1.15%)

Tesla (TSLA) reported record earnings after the bell of $438 million for Q1, this is up 74% from a year ago.

A good chunk of this revenue was generated from the sale of bitcoin during the quarter, profit from Teslas bitcoin speculation came in at $101 million.

Ahead tonight is a busy night for corporate earnings with tech heavyweights Alphabet (GOOG) and Microsoft (MSFT) reporting, also Dow component stock Boeing (BA) among others.

Economic Announcements

Today the Bank of Japan will be releasing its outlook report and monetary policy statement, no changes are expected to current policies and should have a muted effect on the market.

The Bank of Canada Governor will also be testifying before the Canadian parliament.

FX Markets 

FX markets were quiet last night, there was modest US dollar weakness as most majors rallied slightly against the greenback. The Aussie dollar was the strongest performer, breaking through its 78c USD resistance level before pulling back slightly.

Bitcoin

After heavy selling on the weekend caused a gap down on Monday morning, Bitcoin has been well bid as buyers flocked in.

The losses from the weekend have been erased and bitcoin bulls are trying hard to reverse the downtrend BTCUSD has been in for the last week. BTCUSD is now around $54k, still around $10k underwater from its peak 2 weeks ago.

Wednesday, 28 April 2021 
Indicative Index Dividends
Dividends are in Points
ASX200 WS30 US500 US2000 NDX100 CAC40 STOXX50
0 0 0.043 0.027 0 0 2.706
ESP35 ITA40 FTSE100 DAX30 HK50 JP225 INDIA50
0.206 0 0 0 0 0 0


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