U.S. equity reports remained mixed on Thursday as European shares dipped and investors turned their attention to economic data and company earnings from monetary policy. As U.S. productivity gains went up, treasuries experienced a slip.
Futures for the S&P 500 and Nasdaq 100 gained as the futures for Dow Jones Industrial Average remained stable. Caterpillar posted its first-quarter profit which beat estimates. Tesla shares went up during early trading as the electric car manufacturer geared up to raise over $2 billion through common stock and offerings of debt.
The Stoxx Europe went down as most of the national benchmarks in the region reopened after a holiday. Shell, the oil giant, beat estimates while Lloyd Bank slipped.
A majority of the European government bonds went up after data hinted at an extension of the slump in the euro area’s manufacturing sector. The pound fluctuated slightly as the Bank of England kept interested rates steady and hinted at hikes in the future.
In the other part of the world, trading remained low in China and Japan as the holiday week continued. Equity benchmarks in Hong Kong and South Korea hit high during the session after CNBC announced the possibility of a U.S- China deal being finalized by Friday.
Currently, markets seem to be holding steady after the Federal Reserve decision and press conference, which led to marginal gains for the dollar and stock decline. This indicated that some investors had expected a more dovish move from Jerome Powell and his colleagues.
On Thursday, data indicated productivity gains in the U.S. This was caused by the positive first quarter results. Economists and analysts await the monthly jobs report on Friday to get a better idea about the health of the United States economy. Economists have predicted a 3.8 unemployment rate with average hourly earnings going up by 3.3 percent.
The Stoxx Europe 600 Index went down by 0.4 percent by 8:38 am (New York time). This is the lowest it has gone down in the past two weeks.
Futures on the S&P Index went up by 0.1 percent. The U.K.’s FTSE 100 Index went down by 0.2 to reach the lowest point in the past month. The MSCI Emerging Market Index also went down by 0.05 percent.
The Bloomberg Dollar Spot Index went up by 0.1 percent as the euro went up by less than 0.05 percent.
The British pound dropped to $1.3041 by 0.1 percent, which is the first retreat in the last week.
The Japanese yen dropped to 111.52 per dollar by 0.1 percent. It is the biggest fall in the last week.
