Market Report May 05 2022

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Market Report for May 05 2022

S&P 500 and Nasdaq

Stock Market %:
DJIA: +2.81
Nasdaq Composite: +3.19
S&P 500: +2.99
UK FTSE 100: -0.9

Market Volume:
NYSE Vol: 1.1 bln (Above)
Nasdaq Vol: 5.4 bln (Above)

Yields:
2-yr: -15 bps to 2.61%
3-yr: -12 bps to 2.82%
5-yr: -11 bps to 2.90%
10-yr: -4 bps to 2.92%
30-yr: UNCH at 3.00%

Comments:
The whole of this week we have been waiting upon the Fed statement and finally, we have it. Fed Chair Powell said the Fed is not actively considering hiking rates 75 basis points and that 50 basis points is more likely.

The market took well to this news and a lot of buying came in during the last two hours in the session.

All of the sectors ended in the green as did all of our positions. AMD with eh help of its good earnings was our biggest gainer on Wednesday but price has to contend with $100 resistance now.

We have not bought any new positions as we have been limited to just managing our current positions recently but we will be looking for new trading opportunities again.

Let’s go trade!