Market Talk – Friday, April 16

“I think the economy is ready to rip,” Federal Reserve Governor Christopher Waller told reporters at CNBC this Friday. Waller said he believes that people believe the virus is under control and that it will result in a strong rebound of economic activity. Still, he noted that unemployment is relatively high and is of great concern for America’s economic future. Inflation is beginning to rise, and Waller predicts the Fed’s preferred gauge will move up to 2.5% this year.

US Market Closings:

  • Dow advanced 164.68 points or 0.48% to 34,200.67
  • S&P 500 advanced 15.05 points or 0.36% to 4,185.27
  • Nasdaq advanced 13.58 points or 0.1% to 14,052.34
  • Russell 2000 advanced 5.6 points or 0.25% to 2,262.67

Canada Market Closings:

  • TSX Composite advanced 29.4 points or 0.15% to 1,153.58
  • TSX 60 advanced 1.56 points or 0.14% to 1,153.58

Brazil Market Closing:

  • Bovespa declined 413.26 points or 0.34% to 121,113.93

ENERGY:

The oil markets had a mixed day today:

  • Crude Oil decreased 0.37 USD/BBL or -0.58% to 63.0900
  • Brent decreased 0.2 USD/BBL or -0.30% to 66.7400
  • Natural gas increased 0.013 USD/MMBtu or 0.49% to 2.6710
  • Gasoline decreased 0.0066 USD/GAL or -0.32% to 2.0452
  • Heating oil decreased 0.0052 USD/GAL or -0.27% to 1.8937
  • Top commodity gainers: Gold (0.85%), Coal (0.99%), Soybeans (0.92%) and Bitumen (1.15%)
  • Top commodity losers: Palm Oil (-3.99%), Cotton (-1.53%), Coffee (-1.13%), and Copper (-0.99%)

The above data was collected around 11:39 EST on Friday.

BONDS:

Japan 0.093%(+0bp), US 2’s 0.16%(+0.006%), US 10’s 1.5798%(+4.98bps); US 30’s 2.2763%(+0.07%), Bunds -0.276% (+2bp), France -0.0184% (+2bp), Italy 0.75% (+1.9bp), Turkey 17.35% (+0bp), Greece 0.923% (+2bp), Portugal 0.399% (+1bp); Spain 0.399% (+1.71bp) and UK Gilts 0.763% (+2.4bp).

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Disclosure: None.

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