As the market players are aware, the global markets are very sensitive to the broad macro-economic parameters and the news related to geopolitical concerns. On Friday, the data released by the Bureau of Economic Analysis demonstrated that the GDP of the United States has witnessed a rise of 3.2% in the first quarter. It can be said that this strong growth might have supported the sentiments of market players. Generally, these positive macro-economic data favourably affect the broader stock markets largely because the confidence of investors starts building up and they tend to make deployments in equities which ultimately supports the broader market movement.
However, the US markets are also sensitive to other variables like the earnings reports. Talking about some of the companies which would be releasing their earnings reports, Apollo Global Management is expected to release the earnings report on May 2, 2019 while, its competitor, The Carlyle Group would be out with its earnings on May 1, 2019. On Friday (i.e. April 26, 2019), Dow Jones Industrial Average got closed in green as the index ended at 26,543.33 which implies a rise of 81.25 points or 0.31%. On the same day, S&P 500 got closed at 2,939.88 which implies a rise of 13.71 points or 0.47% on an intraday basis.
Oil Prices To Remain Sensitive To Macro Factors
Recently, the oil prices got influenced as Trump had informed OPEC to reduce the prices. Not so long ago, the United States had announced that importers of oil from Iran need to stop the purchases. However, other primary factors which might affect the oil prices are broader movement of the equity markets and overall health of the global economy.
Australian Markets Ended in Red: S&P/ASX200 Falls 0.4%
Today (i.e. April 29, 2019), the Australian markets ended the session in red as S&P/ASX200 got closed at 6,359.5 which implies a fall of 26.1 points or 0.4% on an intraday basis. The market experts are of the view that Westpac Banking Corporation (ASX: WBC), National Australia Bank Limited (ASX: NAB) and Australia and New Zealand Banking Group Limited (ASX: ANZ) might confront questions with respect to the reduction in funding costs. The Australian markets are generally affected by overall momentum of the global markets and geopolitical worries.
Coming to the movement of stocks, HUB24 Limited (ASX: HUB) and Afterpay Touch Group Limited (ASX: APT) closed today’s session in green as their stock prices witnessed a rise of 4.95% and 4.618%, respectively on an intraday basis. On the other hand, Pilbara Minerals Limited (ASX: PLS) and Syrah Resources Limited (ASX: SYR) closed the session in red as their stock prices witnessed a fall of 6.107% and 5.858%, respectively on an intra-day basis.
Mount Gibson Iron Limited (ASX: MGX) came forward and released the Q3 FY 2019 report. In order to read the full news about this, please click here. Also, SelfWealth Limited (ASX: SWF) released the third quarter business update. To read the entire news, please click here.