Global Markets Mixed, While Pessimism Grows with May 1st Futures

The latest trade review includes an update on current reports, trends, indices, stock prices, bonds, foreign exchange, and commodities. Although most stock exchanges in Europe are closed for May Day, the UK’s Potsi index rose by 0.2%. In contrast to this positive news, Super Micro Computer’s stock fell sharply after the company posted lower-than-expected revenues.

In the US, chip company AMD reported slightly above forecasts with an outlook that was in line with expectations. However, Wall Street reacted negatively to this news and caused the stock to plummet 7% in late trading. The company earned 62 cents per share in the last quarter and expects revenues of 5.7 billion dollars in the current quarter.

On a different note, Asian stock exchanges were mostly closed for May 1st. The Japanese Nikkei down 0.4%, indicating a negative trend in the region’s stock indices. Meanwhile, Wall Street futures signal a downward trend for the first trading day of May. Monthly summaries show that there has been a negative trend in global stock indices overall, with Nasdaq and S&P 500 down by about 3.3% and Dow Jones down by 4.3%.

After trading hours ended on April 30th, Amazon reported beating profit and revenue expectations but lowering its forecast for future growth prospects. Its stock jumped approximately 4% as investors showed their optimism regarding these new developments. Oil prices also continued their decline slightly during this period; American oil traded at $81 per barrel while Brent oil reached $88 per barrel respectively. Gold prices hit approximately $2316 per ounce before closing for the month of April.

Moving forward into May, analysts expect the Federal Reserve to announce a hawkish policy shift which could lead to long-term yields rising even further due to tighter financial conditions being communicated by them.

In other developments from Wall Street giants such as Goldman Sachs have updated their list of “quality” stocks which now includes companies like Lululemon Athletics Hershey and Northern Trust.