Commercial Content › State of The Markets | Stocks Rebound as Optimism Returned
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March 28, 2021 at 11:26 am #19092Courtney LoganParticipant
STATE OF THE MARKETS
Stocks rebound as optimism returned. US stocks rebound on Thursday with Dow (+0.62%), Nasdaq (+0.12%), and S&P500 (+0.52%) all edged higher, after employment numbers showed less jobless claims and better annual GDP from 4.1% to 4.3%. The short-term optimism saw less demand for bond with only around $370 billion worth of block orders flowed in the US bond futures, after the 10Y yield edged back above 1.63%.
Crude fell back lower, to close below $58.33/bl, despite the Suez Canal incident, as markets weigh more on the rising Covid cases in Europe and South Asia. Gold was also under pressure, as yields seeking investors flock to bonds and sent the precious metal lower to close below $1,726.85/oz as New York close, which benefited the Greenback.
King Dollar took the helm of demand in the long term accounts as it edged lower in the short term, after optimism sent Aussie and Kiwi back in the demand territory. Euro and Sterling is consolidating while Swiss was sent to the back burner. Long term outlook remain mildly bearish as Yen and Swiss inched higher into demand.
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