Wealth Daily 05 April 2022




WEALTH DAILY 2022-04-05
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 Shares on Wall Street rose on Mon. Tech outperformed. The Dow Jones Industrial Average gained 103.61 pts, or 0.3%, to close at 34,921.88. The broader S&P 500 index rose 0.81%. The tech-heavy Nasdaq Composite advanced 1.90%. The small-cap Russell 2000 gained 0.21%. 


Telsa’s (TSLA US, +5.61%) CEO Elon Musk took a 9.2% stake in Twitter (TWTR US, +27.12%). He is now Twitter’s largest shareholder. Musk’s purchase came less than two weeks after he criticized the company, polling his followers on Twitter about whether Twitter adheres to free speech principles. 


Apple (AAPL US, +2.3%), Amazon (AMZN US, +2.9%), Alphabet (GOOGL US, +2.0%) and NVidia (NVDA US, +2.4%) were all up.  Meanwhile, Starbucks (SBUX US, -3.72%) fell after suspending stock buybacks with immediate effect to invest in staff and stores. 


US-listed Chinese equities surged on easing fears about potential delistings after Beijing moved toward meeting audit disclosure requirements. The Invesco Golden Dragon China ETF (PGJ US) jumped 7.53% on Mon. 


The yield on the 10-year Treasury note notched up 1.3 basis points (bps) to 2.3915%. The yield on the 2-year Treasury note slipped 3.43 bps to 2.4221%. 


The iShares iBoxx High Yield Corporate Bond ETF (HYG US) rose 0.76%. 


Crude oil futures advanced. The European Union is working on new Russian sanctions for alleged atrocities. The front-month Brent and WTI futures closed up $3.14 at US$107.53/bbl and $4.01 at US$103.28/bbl respectively. 


The ICE dollar index (DXY), which measures the strength of the greenback against a basket of currencies, rose 0.37% to 99.00. 


The most actively traded US gold futures (Jun) contracts settled up $10.30, or 0.5%, at US$1,934.00/oz. May silver, which is the most actively traded silver futures, fell 6.4 cents, or 0.3%, to end at US$24.590/oz. 


European equity markets finished higher on Mon. The UK FTSE gained 0.7%, France's CAC 40 rose 0.5%, while the German DAX advanced 0.2%.