| 
May 03, 2023
- Midway through earnings season, First Citizens BancShares, Inc. & Syneos Health, Inc. are in line to report next
- Yesterday's star of the day Vanguard Mortgage-Backed Securities ETF appreciates 1.02% while outperforming its peers
- Asia-Pacific markets are in session with varied performances.
Yesterday's market activity meant that leading equity indices in the US declined as Dow Jones lost 1.08% and ended the session at 33,700. S&P 500 was down 1.16% before closing the session at 4,119.58.
US markets are set to open today in around 10 hours. In the meantime, Asia-Pacific markets are currently mixed so far this session. European markets were down yesterday as CAC is down by 1.45%, dips to 7,383.2
Investor risk appetite was subdued as stocks were sold off in favour of perceivably safer alternatives such as government bonds. The iShares U.S. Treasury Bond ETF has gone up 1% to trade at $23.42, thereby indicating that government bond yields were downbeat across the yield curve.
3Rd quarter earnings season is mostly over, with Yum! Brands Inc & The Scotts Miracle-Gro Company releasing their earnings reports just this week.
Meanwhile, United States JOLTs Job Openings (Mar) released yesterday at 14:00 UTC with a figure of 9.59 million, while the previous figure was 9.97 million. United States ISM Manufacturing PMI (Apr) came out at 47.1, while a consensus of analysts was expecting 46.8. United States API Weekly Crude Oil Stock released yesterday at 20:30 UTC with a figure of -3.94 million, while the previous figure was -6 million.
Looking ahead, ongoing depreciation may be prolonged as as things stand, upcoming United States Non Farm Payrolls data is projected to fall short of market expectations with newly published data of 179,000, following on from the preceding figure of 236,000. New data is set to be published Friday.
Moreover, United States Crude Oil Inventories is projected to outperform its last figure with -1.1 million. It previously stood at -5 million; data will be released today at 14:30 UTC.
Furthermore, United States Interest Rate figure is projected at 5.25. It previously stood at five; data will be released today at 18:00 UTC.
While markets are generally down so far today, some assets outperformed such as Vanguard Mortgage-Backed Securities ETF gained 1.02% to reach $46.58. IShares U.S. Treasury Bond ETF (up 1%) and iShares Core Total USD Bond Market ETF (up 0.92%) also performed well yesterday.
Vanguard Mortgage-Backed Securities ETF | Closed +1.02% at $46.58
After ending Monday at $46.11, Vanguard Mortgage-Backed Securities Index Fund ETF Shares went up to $46.58 only to drop back, yet still traded well overall and closed at $46.58 yesterday. The fund disclosed a quarterly dividend of 11.8 cents per share on Monday, December 26th and was paid on Monday, March 6th — thereby generating a yield of 1% for all eligble investors.
