𝗗𝗮𝗶𝗹𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 / 𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗥𝗲𝗰𝗮𝗽 🇺🇸
Tuesday, 23/4/2024
On Tuesday, equity markets saw gains driven by a focus on corporate earnings and economic growth prospects.
The $SPX500 experienced broad-based sector leadership, particularly in communication services and technology, reflecting a general risk-on sentiment. Small-cap stocks notably outperformed, rising by over 1.7%.
Market reaction was positive to a softer-than-expected S&P Global Purchasing Managers' Index (PMI) reading, suggesting continued U.S. economic expansion in April, albeit at a slower pace.
This softer growth outlook, while not ideal, was viewed favourably by markets as it could potentially lead to lower inflation and prompt rate cuts from the Fed.
Treasury yields ended lower, with the 10-year yield at approximately 4.60% and the 2-year yield around 4.92%, while oil prices climbed above $83 per barrel in the commodity space.
Biggest movers in my portfolio:
🚀 $BGNE (BeiGene Ltd-ADR) (+6.15%)
💣 $CHWY (Chewy) (-0.64%)... Show More
