Euro area financial markets were closed during yesterday’s session for May 1st holiday. In the US, a betterthan expected ISM manufacturing index, which also showed signs that input prices have been kept elevated due to tariff policy, loweredexpectations of four interest rate cuts in 2025 and sent US Treasury yields higher.
In US stock markets, strong results from large tech companies supported gains, posting their eighth straight session of gains.Stocks have been rallying despite news from a Labor Department report pointing to initial claims for unemployment benefitsjumping to 18,000 for last week, and US GDP contracting in 1Q 2025.
In currency markets, the dollar appreciated against other major currencies, as investors felt optimistic that the US will pursuetariff deals with trading partners. In commodities, Brent oil prices fell, despite the US President threatening more sanctions on Iran, and as a round of talks between the two countries was postponed.
BANCO BPI, S.A., com sede na Avenida da Boavista, 1117, 4100-129 Porto; Capital Social: € 1 293 063 324,98; matriculada na CRC Porto sob o número de matrícula PTIRNMJ 501 214 534, como o número de identificação fiscal 501 214 534. Intermediário financeiro registado na CMVM com o n° 300 e no Banco de Portugal sob o código n° 10. Agente de Seguros n.º 419527591, registado junto da Autoridade de Supervisão de Seguros e Fundos de Pensões em 21/01/2019, e autorizado a exercer atividade nos Ramos de Seguro Vida e Não Vida.