Morning Wrap: US stocks finish higher on US-UK trade deal
ASX 200 futures are up 3 pts (+0.03%) as of 8:30 am AEDT.
In this article
ASX 200 futures are up 3 pts (+0.03%) as of 8:30 am AEDT.
In a nutshell:
US equities finish higher, VIX and gold retreat
Trump unveils UK trade deal
Kerry away today, so wrap is a lite version
Let's dive in.
Overnight Summary
Name | Value | % Chg |
|---|---|---|
Major Indices | ||
 S&P 500 | 5,664 | +0.58% |
Dow Jones | 41,368 | +0.62% |
NASDAQ Comp | 17,928 | +1.07% |
Russell 2000 | 2,026 | +1.85% |
Country Indices | ||
 Canada | 25,254 | +0.37% |
 China | 3,352 | +0.28% |
 Germany | 23,353 | +1.02% |
 Hong Kong | 22,776 | +0.37% |
 India | 80,335 | -0.51% |
 Japan | 36,929 | +0.41% |
 United Kingdom | 8,532 | -0.32% |
Name | Value | % Chg |
|---|---|---|
Commodities (USD) | ||
 Gold | 3,306.0 | +0.01% |
 Copper | 4.604 | +1.08% |
 WTI Oil | 59.91 | +3.17% |
Currency | ||
 AUD/USD | 0.6402 | -0.37% |
Cryptocurrency | ||
 Bitcoin (USD) | 102,700 | +5.63% |
 Ethereum (AUD) | 3,400 | +20.31% |
Miscellaneous | ||
US 10 Yr T-bond | 4.373 | +2.29% |
VIX | 22.48 | -4.54% |
US Sectors
Sector | % Chg |
|---|---|
| Consumer Discretionary | +1.35% |
| Industrials | +1.34% |
| Energy | +1.26% |
| Materials | +1.20% |
| Information Technology | +0.85% |
| Financials | +0.71% |
Sector | % Chg |
|---|---|
| Communication Services | +0.60% |
| Consumer Staples | -0.49% |
| Real Estate | -0.54% |
| Utilities | -0.86% |
| Health Care | -0.91% |
S&P 500 SESSION CHART
S&P 500 higher, finished off best levels (Source: TradingView)
OVERNIGHT MARKETS
Major US benchmarks were higher but finished off best levels
Trump announced a trade deal framework between the US and UK
First major agreement hatched since the US launched pre-emptive tariffs earlier this year.
STOCKS
Apple suggests its reliance on Google may diminish over time as AI reshapes the search ecosystem (Bloomberg, FT)
Tech executives press U.S. Senators to ease up on regulatory pressures (Bloomberg); Uncertainty looms for Big Tech under a potential second Trump presidency (Axios)
Elon Musk’s xAI taps Tesla’s Megapack batteries to power its Memphis-based “Colossus” supercomputer (Bloomberg)
AppLovin soars sharply on solid Q1 results, mobile gaming business sale agreement (CNBC)
Toyota profit guidance well short of estimates, reflecting direct impact of tariffs and adverse FX movements (Bloomberg)
Ford hiking prices on its Mexico-produced models by as much as $2,000 due to tariffs (Reuters)
CENTRAL BANKS
BoE cuts interest rates in a move likely to bring relief to borrowers
Tariffs drive divergence in global central bank policies as the Fed grapples with inflation-growth trade-offs (Bloomberg)
Bank of Japan’s March minutes reflect cautious stance amid trade tensions (Reuters)
GEOPOLITICS & TRADE
China urges U.S. to revoke unilateral tariffs ahead of high-stakes trade discussions (Bloomberg)
China’s fentanyl proposal helped pave the way for this week’s diplomatic talks with the U.S. (link)
Trump reaffirms he won’t reduce tariffs on China to reignite trade negotiations (Bloomberg)
EU planning to hit Boeing and US cars with tariffs if trade negotiations fail (FT)
VP Vance takes more conciliatory tone on Europe, says US and Europe on same team (Reuters)
ECONOMY
Economists scour earnings calls and private-sector data sources for signs of recession (NY Times)
China considers housing market overhaul to cap pre-sales (Bloomberg)
German industrial output surges as firms rush to beat US tariffs (Bloomberg)
Industry ETFs
Name | Value | % Chg |
|---|---|---|
Commodities | ||
| Lithium & Battery Tech | 37.43 | +1.82% |
| Copper Miners | 38.83 | +0.80% |
| Strategic Metals | 38.6 | +0.73% |
| Steel | 61.35 | +0.23% |
| Silver | 29.46 | -0.10% |
| Uranium | 26.68 | -0.34% |
| Gold Miners | 48.88 | -1.89% |
Industrials | ||
| Global Jets | 21.82 | +3.31% |
| Construction | 75.38 | +2.80% |
| Aerospace & Defense | 163.44 | +1.95% |
| Agriculture | 26.91 | +0.15% |
Healthcare | ||
| Biotechnology | 119.18 | -0.18% |
Name | Value | % Chg |
|---|---|---|
Cryptocurrency | ||
| Bitcoin | 21.4 | +5.31% |
Renewables | ||
| Solar | 30.73 | +3.82% |
| Hydrogen | 17.36 | +3.77% |
| CleanTech | 6.23 | +1.96% |
Technology | ||
| E-commerce | 29.22 | +2.96% |
| FinTech | 29.16 | +2.60% |
| Cloud Computing | 22.38 | +2.43% |
| Electric Vehicles | 21.3 | +1.43% |
| Robotics & AI | 29.49 | +1.27% |
| Semiconductor | 191.74 | +0.89% |
| Video Games/eSports | 97.0 | +0.24% |
| Cybersecurity | 34.13 | -0.70% |
| Sports Betting/Gaming | 20.55 | -0.84% |
ASX TODAY
Atlas Arteria CEO Wehby says strategic partnerships are the priority over acquisitions – The Australian
Perpetual’s wealth arm could fetch between A$500 million and A$700 million – AFR
Webjet Group shareholder seeks a 10% equity stake – AFR
Key events
Stocks trading ex-dividend:
Ex-Date: 9 May: Healius (HLS) – $0.413
Ex-Date: 12 May: Dominion Income Trust 1 (DN1) – $0.579, National Australia Bank (NAB) – $0.85
Ex-Date: 15 May: Autosports Group (ASG) – $0.035, Tamawood (TWD) – $0.11, United Overseas Australia (UOS) – $0.02, Wam Alternative Assets (WMA) – $0.027
Other ASX corporate actions today:
Dividends paid: None
Listing: None
Earnings: Macquarie Group (MQG)
AGMs: QBE Insurance (10 May), Waypoint REIT (12 May), Atlas Arteria (15 May), Ampol (15 May), Resolute Mining (15 May)
Economic calendar (AEDT):
China - Balance of Trade, Exports, Imports - 1 pm
