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As the market players are aware, the US companies are reporting their earnings reports and the season has the potential to influence the momentum of broader markets. Yesterday, Alphabet Inc witnessed significant fall of US$97.24 per share or 7.50% on an intraday basis and got closed at US$1,198.96. This technology giant has the potential to influence the momentum of the broader US equity market. Apart from the earnings season, news about the trade battle between the US and China should also be tracked by the market players as the global markets are sensitive to the geopolitical concerns as well. However, it can be assumed that the market players are tracking the Federal Reserve meeting which would be ending on May 1, 2019.
It is important to track the Fed meeting mainly because it gives the broader picture of the US economy which is very crucial for the equity markets. Yesterday (i.e. April 30, 2019), Dow Jones Industrial Average got closed at 26,592.91 which implies a marginal rise of 38.52 points or 0.15% on an intraday basis. Also, on the same day, S&P 500 Index got closed at 2,945.83 which reflects a rise of 2.8 points or 0.10% on an intraday basis.
Oil Prices To Get Influenced By Macro-economic News
As the market players are aware, the oil prices generally are influenced by global macro-economic factors and by overall health of the global economy. A rise in the global tensions can impact the oil demand which could, in turn, affect the oil prices. Also, the news about trade tensions between the US and China can affect the movement of oil prices.
Australian markets Closes in Green: S&P/ASX200 Rises 0.8%
The Australian equity markets are affected by broader momentum of the global markets and the news about geopolitical concerns. If the worries about the global economy increases, it could negatively impact the equity markets in Australia as Australian investors tend to avoid making investments in an uncertain environment. Today (i.e. May 1, 2019), S&P/ASX200 ended in green as the index got closed at 6,375.9 which implies a rise of 50.4 points or 0.8% on an intraday basis. Talking about the movement in stocks, Bravura Solutions Limited (ASX: BVS) and Afterpay Touch Group Limited (ASX:APT) have closed the session on May 1, 2019 in green as the stock prices of these companies witnessed the rise of 8.146% and 6.682%, respectively.
On the other hand, Super Retail Group Limited (ASX: SUL) and Skycity Entertainment Group Limited (ASX: SKC) ended the day in red as their stock prices encountered the fall of 8.776% and 4.688%, respectively on an intraday basis. Coming to some of the important news, Bingo Industries Limited (ASX: BIN) came forward and gave an update on the DADI acquisition. In order to read the entire news, please click here. Also, Comet Resources Limited (ASX: CRL) made an announcement about the appointment of new CEO (or Chief Executive Officer). To read the entire news, please click here.
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