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May 04, 2023
- Midway through earnings season, First Citizens BancShares, Inc. and Syneos Health, Inc. are in line to report next
- IShares Trust – iShares iBonds Dec 2021 Term Treasury ETF was the biggest decliner after giving up 0.04% yesterday
- Asia-Pacific markets are currently mixed so far this session.
Yesterday's trading session saw to it that leading equity indices in the US declined as Dow Jones slipped 0.8% and closed at 33,400. S&P 500 was down 0.7% before closing the session at 4,090.75.
US markets are currently closed but will resume today in around 12 hours time. Asia-Pacific markets are in session with varied performances. Upbeat European markets ended yesterday higher as DAX climbs to 15,800 (up 0.56%).
Kellogg Co and GoDaddy Inc. have released their earnings reports; First Citizens BancShares, Inc. and Syneos Health, Inc. will publish their respective reports in due course.
Market's down-tick coincides with some negative macro data published earlier as United States Crude Oil Inventories improved upon its previous reading of -5 million with a new data release of -1.28 million.
Meanwhile, United States Interest Rate released yesterday at 18:00 UTC with a figure of 5.25, while the previous figure was five. United States ISM Non-Manufacturing PMI (Apr) came out at 51.9, while a consensus of analysts was expecting 51.8.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as as things stand, upcoming United States Non Farm Payrolls data is projected to fall short of market expectations with newly published data of 180,000, following on from the preceding figure of 236,000. New data is set to be published tomorrow at 12:30 UTC. Projections for United States Initial Jobless Claims are set for a continuation of decline with 240,000 while previous data was 230,000; data will be released today at 12:30 UTC. United States Unemployment Rate projected to decline to 3.6 while previous data was 3.5; data will be released tomorrow at 12:30 UTC.
While markets are generally down so far today, some assets outperformed such as Vanguard Mortgage-Backed Securities ETF gained 0.6% to reach $46.86. IShares 1-3 Year Treasury Bond ETF (up 0.244%).
Yesterday's bearishness meant that iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF lost 0.04% yesterday before closing at $25.35.
IShares Trust – iShares iBonds Dec 2021 Term Treasury ETF has been pretty quiet for the last a month, trading mostly flat and moving by only 0.02 cents on average.
Vanguard Mortgage-Backed Securities ETF | Closed +0.6% at $46.86
The sentiment that generated 47 cents in cumulative gains over the past 3 days was further evident for Vanguard Mortgage-Backed Securities ETF. Yesterday's session pointed in the same direction — after closing at $46.58 Tuesday, VMBS maintained a strong bullish bias that helped the fund close higher at $46.86 yesterday. However, market bears ensured the Vanguard Mortgage-Backed Securities ETF topped out at $46.88 and that by the end of the session, the market had marked out a distinct $46.66 to $46.88 range. The fund disclosed a quarterly dividend of 12.2 cents per share on Thursday, April 27th and was paid on Thursday, May 4th — thereby generating a yield of 1.04% for all eligble investors.
