The FTSE 100 daily report will be unavailable on Monday, May 6, owing to a bank holiday.
Updates from Friday: Wall Street closes higher as the US Fed shows a dovish leaning, with the Dow up 0.85 percent to 38,225.66, the S&P 500 up 0.91 percent to 5,064.2, and the Nasdaq Composite up 1.51% to 15,840.96. Technology drove S&P gains, but materials underperformed.
Carvana’s shares rose 33.8% on an excellent profit projection, while DoorDash’s fell 10.3% owing to profit guidance. Etsy’s stock plunged 15.0 percent after missing sales targets, while Peloton declined 2.5 percent following the departure of its CEO and employment layoffs.
In Asia, Hong Kong’s Hang Seng Index rose by 2%, on track for a 5% weekly rise, while markets in Japan and mainland China remained closed.
The dollar index was expected to fall 0.7% this week, its lowest level since early March. The yen rose by 0.55 percent to 152.80 per dollar, recovering from prior lows.
In commodity prices, US crude increased 0.22 percent to $79.12 per barrel, while Brent oil rose 0.22 percent to $83.84. Spot gold was at $2,301.01 per ounce, indicating a second weekly loss.
Labour has made early gains in local elections, taking control of Hartlepool Council while maintaining control of Newcastle upon Tyne, South Tyneside, and Sunderland City Council.
Apple’s quarterly earnings exceeded expectations, sparking a 6% increase in after-hours trade with a record share repurchase programme. They also increased their cash dividend by 4% and authorised a gigantic $110 billion stock repurchase programme, their largest ever.
Despite a minor decrease in quarterly sales, Apple’s CEO Tim Cook is hopeful that revenue growth will return in the upcoming quarter, suggesting possible resilience in the smartphone industry.
The Irish service industry’s development decreased in April, particularly in the Technology, Media, and Telecommunications sector. The AIB S&P Global Purchasing Managers’ Index (PMI) fell to 53.3 from 56.6 in March, the smallest rise since January, but stayed over 50, suggesting continuing expansion for more than three years and two months.
Traders are waiting for US nonfarm payroll data, which is likely to have an influence on market direction following Jerome Powell’s words indicating future interest rate cuts.