MARKET ANALYSIS 04/05/2018 by IMBI (NFP report to shape markets today)

Please note that due to market volatility, some of the scenarios may have already been played out and the information below is not an investment advice.

NFP report to shape markets today: The monthly Non-Farm Payroll report, considered one of the key indicators of the US economy’s overall health, is due in the US at 12:30 GMT. At the same time, the Average Hourly Earnings and Unemployment Rate reports will also be released. The reports could potentially impact the USD and other leading financial instruments in the US.

Bitcoin above $9,500: Crypto markets were mixed over the past 24 hours, as 5 of the top 10 cryptos registered gains. At the time of writing Bitcoin was up 4%, trading above $9,600, and Ethereum was up by more than 8%.

Wall Street closes mostly lower: After registering significant losses earlier in the day, the Dow Jones recovered to close slightly higher. The S&P 500 and Nasdaq also dipped considerably earlier in the session, but cut some of their losses before the end of the session to close around 0.2% lower.

Asia mostly lower: As the trade talks between the US and China continue in Beijing, markets in the East were sluggish. The Nikkei, China50 and Hang Seng indices were all seen lower this morning. Banks in Japan are closed today in observance of a national holiday.

Buffett continues to show faith in Apple: One of the world’s most famous investors, Warren Buffett, has revealed that he purchased an additional 75 million Apple shares during this year’s first quarter through his investment firm Berkshire Hathaway. This purchase brings Buffett's total investment in the tech giant to more than 240 million shares. Berkshire Hathaway will be reporting its earnings tomorrow and Buffett will be speaking with investors at the company’s annual shareholders meeting.

Tesla tumbles 5.5%: The electric carmaker registered significant losses yesterday, following a disappointing earnings report and remarks by CEO and founder Elon Musk at the company’s earnings call, disrespecting some analysts’ questions.

Europe opens higher: The FTSE opened 26 points higher, the DAX was up 58 points and the CAC opened 29 points higher.

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