Wall Street rises, US employment data is above estimates
Wall Street closes positive. The Dow Jones rises by 0.80% to 38,904.27 points, the Nasdaq advances by 1.24% to 16,248.52 points while the S&P 500 makes progress by 1.11% to 5,204.30 points. Wall Street indices are rising despite the publication of the employment report. In fact, the data shows a still very strong labor market, which could push the Federal Reserve to postpone the start of the interest rate cut. Last month, 303,000 jobs were created (excluding the agricultural sector) compared to the previous month, while analysts expected an increase of 200,000 jobs. Unemployment fell from 3.9% to 3.8%, in line with estimates. On the stock market, McDonald’s down after announcing that it will purchase all its franchise stores in Israel. Amazon and Nike are among the best on the Dow Jones, while Intel slips to the bottom of the list.
Stellantis heavy, Eni light
In Piazza Affari, Stellantis is heavy after the drop in registrations in the United States in the first quarter of the year. Sales also on banks, with Intesa Sanpaolo, Banco Bpm and Banca Mps, which ends at the bottom of the list. Among the few positive stocks are Leonardo – Finmeccanica and Eni: the board of directors will propose to the meeting a buyback of 1.1 billion which can be increased up to 3.5 billion. Among the thinnest stocks, Greenthesis soars after the announcement that the main shareholder is preparing a takeover bid for the delisting of the company, while Bestbe Holding ends up losing over 12 points.
Oil on the rise, Brent above 91 dollars
Oil prices rise moderately, while operators monitor the progress of the conflict in the Middle East. May futures on WTI are above 87 dollars a barrel, while contracts for June on Brent are above 91 dollars. Natural gas traded in Amsterdam also rose slightly at around 26.7 euros per megawatt hour.
Spread rising, but remains below 140 points
Rising trend for the spread between BTp and Bund. The yield differential between the benchmark 10-year BTp (Isin IT0005560948) and the German Bund stood at 139 basis points, up from 135 basis points at Thursday’s close. The yield of the benchmark ten-year BTp rose slightly to 3.72%, from the 3.71% of the previous reference.
Gold still rallying, euro at 1.083 dollars
Gold is back on the run after its recent record-breaking rally. Spot delivery remains above $2,345 an ounce after reaching highs in recent days. On the currency market, the euro was little moved at 1.083 dollars from 1.086 at the close on Thursday. The yen is strengthening, reaching its highest level in two weeks after the governor of the Bank of Japan, Kazuo Ueda, did not rule out a new increase in rates by the end of the year.