We continue to see massive swings in prices, and I need to remind you that while major players continue to benefit from these wild gyrations in perceived value – as shown in recent trading results, (not least because they can programme trades using algos, and harvest income from the movements) – retail investors hardly benefit, because they are always behind the trade, unable to benefit from the dark pools and high-speed trading. It is an unequal game.
Take Friday, for example, where U.S. stocks rallied with the Dow posting its biggest one-day percentage gain since Jan. 6, as shares of Apple surged more than 4% after upbeat results and U.S. jobs data pointed to a resilient labor market.
Adding to the bullish momentum, regional bank shares rebounded from declines tied to the collapse of First Republic Bank. Analysts upgraded a number of lenders they said were oversold. PacWest Bancorp rallied 81.7% and Western Alliance Bancorp jumped 49.2%, while the KBW regional bank index advanced 4.7%.
Apple’s quarterly results also cheered investors worried about a potential recession. The iPhone maker’s shares hit their highest level in about nine months, and the stock ended up 4.7% in its biggest daily percentage gain since November. The stock was the biggest positive influence on all three major U.S. stock indexes.
The U.S. Labor Department report showed job growth accelerated in April and wage gains increased solidly, suggesting the labor market has stayed strong despite recent interest rate hikes from the Federal Reserve.
All in all, the wild market rides continues…
CONTENT
0.00 Start
0.13 Introduction
1:00 US Markets
2:10 US Labor Markets
6:30 US Earnings
7:00 Europe
9:05 Oil
9:30 Gold
11:57 Asia
13:52 Australia
17:00 Crypto
17:50 Summary and Close
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