Market Report May 03 2022

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Market Report for May 03 2022

S&P 500 and Nasdaq

Stock Market %:
DJIA: +0.26
Nasdaq Composite: +1.63
S&P 500: +0.57
UK FTSE 100: +0/47

Market Volume:
NYSE Vol: 1.1 bln (Below)
Nasdaq Vol: 4.8 bln (Below)

Yields:
2-yr: +4 bps to 2.73%
3-yr: +7 bps to 2.93%
5-yr: +10 bps to 3.01%
10-yr: +11 bps to 3.00%
30-yr: +11 bps to 3.06%

Comments:
The first trading day of the month saw tight stops being taken out with a small swing in price at the support zones for the Indices. The market turned around during the last hour of trading and kept inline with our view that we discussed on the webinar of Monday being a bullish day.

No changes to our positions but we have earnings this week so that may well be different going forward.

Standing aside is still the best option for now and there is still likely to be volatility with a third of the S&P releasing their earnings over the coming week.

Enjoy a few days away from the market.

Let’s go trade!