Read this before you start trading today!
- Friday brought a small correction on Wall Street with S&P500 (US500) down 0.72%, Nasdaq100 (US100) down 0.78% and Russell2000 (US2000) down 1.26%. Still Wall Street closed amazing April with respective gains of 5.24%, 5.88% and 2.07%
- We have a mixed start to trading in May. While there were holidays in China and Japan, Chinese stocks traded in Hong Kong (CHNComp) tanked again on anti-monopoly actions and worries of less stimulus and traded around 2021 lows.
- DE30 had weaker April than Wall Street and futures point to flat opening today.
- Warren Buffet said at the annual shareholders meeting that the economy was running “red hot” and that is likely to produce higher inflation.
- This contradicted with statements from Janet Yellen who said Biden’s plans will not lead to higher inflation.
- Speaking of Yellen, Treasury should announce funding plans for the second quarter today.
- Iran said a deal with the US was close but the US side denied. Oil prices are slightly down today.
- Cryptocurrencies are gaining, Ethereum smashed the $3000 barrier for the first time.
Wild rally? Not in China, CHNComp is trading close to 2021 lows.