Reply To: Market Wrap – Markets Bounce Despite 10 Year Rates Surge May 3 2022

#36252
Truman
Participant

The global equity markets are mixed on another holiday-laden day. S&P Futures are up about four points to trade around the 4155 area. The modest upward bias was contained to a range that saw a high of 4176.00 and a low of 4141.75.

In Asia, both China and Japan were closed for public holiday.

In Europe, the DAX and CAC are trading higher while the FTSE lags. Germany and France appear to be shrugging off another hotter than expected inflation report. The Eurozone’s March PPI rose 5.3% and well above the consensus of 5.0%. Financials are among the best performing sectors with lenders such as Deutsche Bank, BNP Paribas and Societe Generale up 2-3%.