Asian stocks hit their highest in over a month, and US stock futures rose on Friday after China revealed it is reviewing trade talks with the US, sparking hope that tariff tensions might ease.
Japanese stocks gained 1.1% after positive remarks from the country’s top trade negotiator.
The extended its winning streak to eight days, its longest since August, supported by optimism that trade conflicts are cooling after Trump announced historic tariffs on April 2. However, this optimism is being challenged as investors focus on the US due today, especially after weaker-than-expected earnings from Apple (NASDAQ:) and Amazon (NASDAQ:).
Apple announced that it would cut its share buyback program and warned that tariffs could add as much as $900 million in costs this quarter.
European shares surged this morning due to US-China developments. Shell gained 2.3% despite a 28% drop in first-quarter profits, as it outperformed analyst predictions.
Standard Chartered rose 1.7% after reporting a 10% increase in quarterly profits.
Danske Bank climbed 3.9% as Denmark’s largest bank maintained its 2025 profit forecast and posted better-than-expected first-quarter earnings.
Airbus jumped 3.6%, beating quarterly estimates across the board and confirming its annual outlook.
On the FX front, the headed for a third straight weekly gain while the hit a three-week low against the greenback.
rose 0.1% to 1.1299, moving away from a nearly three-week low. The gained 0.4% to 0.6396 to the greenback, while New Zealand’s increased 0.3% to 0.5827.
Currency Strength Chart, Strongest – Weakest: AUD, NZD, EUR, CAD, GBP, CHF, EUR, USD
Source: FinancialJuice
prices have found some support at the 20-day MA and now trade back above the $3250/oz handle. For a full breakdown on Gold read
Economic Data Releases
From a data standpoint, the Euro Area was released a short while ago and came in better than expected. However, the print remains below 50 and remains in contraction territory.
Moving ahead and markets will focus on US data later in the day with a raft of high-impact releases focusing on the US jobs market. The is still gauging the impact of tariffs and thus will be hoping for a steady labour market.
Chart of the Day – DAX
From a technical standpoint. The has continued its advance, breaching the key 22405 handle.
The overall improvement in sentiment continues to help global equities as risk appetite makes a steady comeback.
For now, though, immediate resistance rests at 23212 before the 23471 handle comes into focus.
Any pullback now may find support at the confluence area at 22405 before the 21610 handle comes into focus.
DAX Daily Chart, May 2, 2025
Source: TradingView
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