Wealth Daily 28 April 2022



WEALTH DAILY 2022-04-28
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Meta Platforms (FB US, -3.32%) is going through the roof in extended-hours trading. The company formerly known as Facebook has jumped 18% after reporting earnings. Facebook’s main social network added more users than projected in the 1Q. 


During the regular trading session Wed, US equities partly rebounded from the market rout the day before, but finished well off session highs. The Dow Jones Industrial Average gained 61.75 pts or 0.19% higher to close at 33,301.93.


The broader S&P 500 index rose 0.21%.  The Nasdaq Composite closed at its low of 2022. The tech-heavy index finished little changed at 12,488.93, after being up 1.7% at its highs. 


Megacap tech stocks ended lower, including Apple (AAPL US, -0.15%), Amazon (AMZN US, -0.88%), Alphabet (GOOGL US, -3.67%), and NVidia (NVDA US, - 1.99%).  Microsoft (MSFT US, +4.81%) was an exception after it has its biggest one-day gain since Feb.


Microsoft reported quarterly sales and earnings that topped analysts’ projections, fueled by robust growth in cloud-services demand. 


The yield on the 10-year Treasury note notched up 11.13 basis points (bps) to 2.8318%. The yield on the 2-year gained 11.37 bps to 2.5910%. 


The front-month Brent and WTI futures closed up 33 cents at US$105.32/bbl and 32 cents at US$102.02/bbl respectively. 


The ICE dollar index (DXY), which measures the strength of the greenback against a basket of currencies, rose 0.64% to 102.954, a five year high. 


Meanwhile the euro touched the weakest level versus the greenback since 2017 as Russia said it will stop natural gas flows to Poland and Bulgaria. 


The most actively traded US gold futures (Jun) contracts settled down $15.40, or 0.8%, at US$1,888.70/oz. July silver, which is the most actively traded silver futures, fell 8.5 cents, or 0.4%, to end at US$23.505/oz. 


European equity markets finished higher on Wed. The UK FTSE gained 0.53%, France's CAC 40 rose 0.48%, while the German DAX advanced 0.27%.