Stock Market Today: Dow, S&P Live Updates for April 26


Stocks are expected to start the week on the front line in Asia after strong US earnings added to prove the pandemic recovery is picking up pace. The currencies remained stable early Monday.

Futures were higher in Japan, Australia and Hong Kong. US futures changed little after most of the large groups in the S&P 500 advanced on Friday. US newbuild sales rebounded in March to their highest level since 2006, while production by manufacturers and service providers hit a record high in April. The 10-year yield on government bonds was below 1.6%.

The dollar sustained losses against large competitors in early trading. Oil and gold were hardly changed.

The focus is on this week's Federal Reserve meeting. Policy makers reiterate that they are in no hurry to withdraw support even if the US economy recovers. A number of earnings from mega-corporations like Tesla Inc., Facebook Inc., and Apple Inc. are analyzed as investors look for clues about how companies are doing on the recovery.

"If we see big leaps in profits for these companies this week, I think that is a positive backdrop for the markets," said Ben Emons, Medley Global Consultant Managing Director of Global Macro Strategy said on Bloomberg Television. At the Fed meeting, "Treasury bond yields have fallen a bit, they have scaled back future rate hikes, and we can't really expect the Federal Reserve or other central banks to withdraw this quickly given the uncertainty about the pandemic," Emons said.

Stocks took a blow last week amid the flare-up of coronavirus cases around the world and news that the White House plans to propose nearly doubling the capital gains tax rate for the rich.

Here are some key events to watch this week:

  • Bloomberg Live hosts the Bloomberg Green Summit Monday through April 27th
  • Bank of Japan interest rate decision and briefing from Governor Haruhiko Kuroda on Tuesday
  • Fed Chairman Jerome Powell will hold a press conference on Wednesday after the FOMC meeting
  • Joe Biden will deliver his first address as President to a joint session of Congress on Wednesday
  • US GDP is expected to show robust growth of 6% in the first quarter, supported by government stimulus on Thursday

These are some of the key steps in the markets:

Stocks

  • The S&P 500 futures were flat in Tokyo as of 7:51 a.m. The S&P 500 rose 1.1% on Friday
  • Nikkei 225 futures rose 0.7%
  • The Australian S & P / ASX 200 index futures gained 0.6%
  • Hong Kong's Hang Seng Index Futures Earlier Up 0.5%

Currencies

  • The yen was little changed at 107.89 per dollar
  • The offshore yuan was at 6.4874 per dollar
  • The Bloomberg Dollar Spot Index fell 0.4% on Friday
  • The euro was quoted at USD 1.2093

tie up

  • The 10-year government bond yield rose two basis points to 1.56%
  • Australia's 10-year bond yield has barely changed at 1.73%.

raw materials

  • West Texas Intermediate Crude Oil was stable at $ 62.17 a barrel
  • Gold ended last week at $ 1,775.03 an ounce

- With the support of Sophie Caronello

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