JP Morgan shares rise 2.6% following news of its First Republic Bank acquisition

Published Tue 02 May 2023 06:00 by Market Analyst

Significant events to watch:

-AUSTRALIA (AUD): Interest rate decision

-EUROZONE (EUR): CPI

-USA (USD): NFP

AUSTRALIA (AUD): INTEREST RATE DECISION – Reserve Bank of Australia (RBA) board members come to a consensus on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation. Australia’s interest rate is set at 3.60%.

The report is due Tuesday, 2 May at 04:30 GMT

EUROZONE (EUR):EUROZONE CPI – The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation. Eurozone’s CPI rose to 7.0% year on year.

The report is due Tuesday, 2 May 09:00 GMT

USA (USD): NONFARM PAYROLL – Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity. The last NFP was 235K, lower than the forecast of 239K.

The report is due Friday, 5 May at 12:30 GMT

Risers and Fallers

-Brent Crude Oil (-2.05%)

-Amazon Inc. (-3.98%)

-Apple Inc. (+0.75%)

-Silver (+0.31%)

Brent crude oil – Brent crude oil price was down 2.05% this morning. OPEC+ to cut China’s oil demand. Economists forecast that crude oil will reach $87.12 a barrel in 2023. Brent is trading at $78.62 a barrel.

Amazon Inc. (NASDAQ: AMZN) – Amazon Inc. shares were down 3.98% on Friday. Amazon stock ended April off with an overall gain of 2.97%. The company is trading at $105.45 per share.

Apple Inc. (NASDAQ: AAPL) – Apple’s stock price was up 0.75% on Friday, closing at $169.68 per share.

SILVER – Silver was up 0.35% since the markets opened. Silver is trading at $25.305.

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