The trading day on Wall Street opened with a positive trend, with the Nasdaq rising by 0.5%, the S&P 500 trading at a similar rate, and the Dow Jones adding 0.3% to its value. Mobileye saw a jump of about 5% after receiving a large order for driver assistance systems chips, with the company’s vice president noting that this was their biggest order yet. Trading in Europe also showed a positive trend, with the French CAC rising by 1.3%, the DAX by 0.6%, and the FTSE by 0.7%.
J.P. Morgan advised against buying gold, citing lower returns compared to stock indices. Adidas shares soared after reporting increased revenue and raising profit forecasts. LVMH, on the other hand, reported a decrease in revenues and missed analyst expectations due to changes in currency rates.
In Asia, markets traded in slight declines except for China’s Shanghai index, which rose by 1.2%. The debt market saw bond prices drop after comments from the Fed chairman, with the 2-year government bond yield surpassing 5% at times. Powell emphasized the strength of the U.S. economy and the continued need for monetary policy tightening.
In China, growth in the first quarter exceeded expectations, attributing improvement to industrial exports and investments. The report season for the first quarter in the U.S. predicts growth in corporate profits, with sectors like public services and IT showing the highest growth. Investors are advised to diversify capital in stocks that will benefit from the changing market trends.