As the NA session begins, the NZD is the strongest and the CHF is the weakest. The USD is mixed to higher to start the North American session.
On Friday, the US jobs report showed stronger jobs created (NFP up +303 with revisions higher in prior months). The Unemployment rate moved lower to 3.8% from 3.9% last month. On Friday, the DXY index rose 0.079%. However, for the trading week, the DXY fell -0.249%
This week will mark the start of the new earnings season (yes already!), featuring earnings releases from major banks like JPMorgan Chase, Citigroup, and Wells Fargo on Friday. Other notable companies such as Delta Air Lines and BlackRock will also announce their quarterly results. The S&P 500 has risen 9.11% year-to-date, buoyed by its best first-quarter performance since 2019. The Nasdaq is up 8.24%. Stocks are trading above and below unchanged in early trading.
Crude oil is lower in premarket trading as hopes for a ceasefire in Israel is the latest. Bitcoin is higher and is approaching the all-time high at $73794. The high price today reached $72756 so far.
A snapshot of the other markets as the North American session begins currently shows:
- Crude oil is trading down $0.59 or -0.69% at $86.30. At this time Friday, the price was at $86.63
- Gold is trading up up $7.69 or 0.33% at $2337.23. At this time Friday, the price was $2291.13
- Silver is trading up $0.16 or 0.56% at $27.61. At this time Friday, the price was at $26.69
- Bitcoin currently trades at $72,348. At this time Friday, the price was trading at $66,498
In the premarket, the major indices are trading above and below unchanged:
- Dow Industrial Average futures are implying a gain of 15.96 points. On Friday, the index rose 307.06 points or 0.80% at 38904.05
- S&P futures are implying a small gain of 0.66 points. On Friday, the index rose 57.15 points or 1.11% at 5204.35
- Nasdaq futures are implying a decline of -2.21 points. On Friday, the index rose 199.44 points or 1.24% at 16248.52
The European indices are mostly higher:
- German DAX, +0.27%
- France CAC , +0.23%
- UK FTSE 100, -0.26%
- Spain's Ibex, +0.41%
- Italy's FTSE MIB, +0.54%
Shares in the Asian Pacific markets were lower:
- Japan's Nikkei 225, was 0.91%
- China's Shanghai Composite Index, -0.72%
- Hong Kong's Hang Seng index, was 0.05%
- Australia S&P/ASX index, +0.20%
Looking at the US debt market, yields are near unchanged:
- 2-year yield 4.790%, +5.9 basis points. At this time Friday, the yield was at 4.662%
- 5-year yield 4.450%, +8.2 basis points. At this time Friday, the yield was at 4.313%
- 10-year yield 4.458%, +8.0 basis points at this time Friday, the yield was at 4.330%
- 30-year yield 4.597%, +6.5 basis points. At this time Friday, the yield was at 4.491%
Looking at the treasury yield curve spreads:
- The 2-10 year spread is at -32.9 basis points. At this time Friday, the spread was at -33.2 basis points
- The 2-30 year spread is at -19.2 basis points. At this time Friday, the spread was at -17.1 basis points
European benchmark yields are mostly lower:
