Market wraps with 3 major indexes lower, FOMC releases decision

Today market session, corporate earnings results were announced along with the FOMC's decision regarding the monetary policy.
WAN CHAI, Hong Kong - May 2, 2021 - PRLog -- With these tons of information bombarding the traders, market closes on the lower side. All three benchmark equities lowered slightly even after such events. The decision of the FOMC regarding the monetary policy remained the same, with the rates of the central bank close to zero and their asset purchase program left unchanged. FOMC maintained their previous stance which was supported by the central bank.

As for the major indexes, S&P recorded an intraday high then plunged to loses. Alphabet (GOOGL) posted their Q1 sales report that exceeded expectations, which managed to pull S&P to the intraday high and mitigate most of the losses. The Dow, on the other hand, had Microsoft (MSFT) release their first quarter earnings but still declined, pulling Dow lower at market close. Other big companies, such as Facebook (FB) and Apple (AAPL) are scheduled to release their Q1 reports by Wednesday after the market close. NASDAQ also ended lower today, falling by about 0.28% from the opening line.

  • The Dow Jones Industrial Average fell by 164.29 points or 0.48% and wrapped at 33,820.64
  • NASDAQ Composite Index closed at 14,051.03 after losing 39.19 points or 0.28%
  • The S&P 500 Index tripped down by 3.41 points or 0.08% to wrap at 4,183.31
  • Japan's Nikkei 225 stepped up by 0.21% or 62.08 points and closed to 29,053.90
  • Hong Kong's Han Sen moved forward with 231.93 points or 0.80% gain
Most of the bond yields ended up higher for today
  • U.S. 2 Year Treasury yield dropped by 0.002 basis points or 1.12% and closed at 0.168
  • U.S. 5 Year Treasury yield went up by 0.027 basis points or 3.19% at 0.883
  • U.S. 10 Year Treasury yield gained 0.034 basis points or 2.10% and ended 1.649
Commodities ended mixed on today's market rally.

  • Gold stepped down to $1,776.05 per ounce after losing $5.01 or 0.28%
  • Silver currently at $26.25 per ounce with a 0.15% gain or $0.04
  • Western Texas Intermediate Crude increased by 0.58% and now at $64.23 per barrel
  • Brent crude now at $67.70 per barrel after increasing by 0.64%
Here's the updates in the currency exchange:
  • U.S. Dollar Index up by 0.09% at 90.69
  • Euro down by 0.10% closing 1.21132 vs USD
  • Yen increased by 0.32% at 108.936 against USD
  • British Pound gained 0.01% at 1.3938 versus USD
  • Canadian Dollars slipped by 0.05% at 1.23076 vs USD
For more financial news and advisories do visit us at Olympus International Limited. You may also check what services we can offer by browsing at our website or contact us thru email.

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