Markets showed positive momentum in the last 24 hours, with most major indices posting gains. The S&P 500 rose 0.4% to 5,872.34, continuing a three-day upward trend, while the tech-heavy NASDAQ performed even better with a 0.6% increase to 17,892.46. Asian markets were particularly strong, with the Nikkei 225 jumping 0.8% to 38,756.32 and the Shanghai Composite adding 0.5%. Only the FTSE 100 showed weakness, dropping 0.2% amid European concerns.
Investors are closely watching central bank developments, with the Federal Reserve signaling potential interest rate adjustments at its upcoming May meeting. Meanwhile, the European Central Bank has maintained its current stance, creating some divergence in global monetary policy outlooks.
The ongoing earnings season has delivered mixed results, though the financial sector has outperformed expectations. Major banks reported quarterly figures exceeding analyst forecasts, contributing to the positive market sentiment. Meanwhile, TechGiant Corp saw its stock climb 3.2% after beating earnings expectations by 12%.
In contrast, retail has struggled, with Retail Consolidated dropping 4.1% following disappointing sales figures.
Economic indicators remain broadly positive, with inflation holding at 2.8% (slightly below expectations) and unemployment steady at 3.9%. The manufacturing PMI of 53.2 signals continued expansion, while the consumer confidence index rose to 112.4 from 109.8 previously.
Energy markets have experienced volatility following OPEC+ production announcements, making the commodities sector one to watch in the coming days.
Regulation remains a key theme, with major economies proposing new rules for digital currencies that could reshape the financial technology landscape in the months ahead.