Daily Note 03/05/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets


  • Macro: It was a mixed session for equity markets yesterday with the Eurostoxx600 falling, whilst the S&P500 and the Nasdaq both ended the day comfortably in the green as technology stocks led the way in the US ahead of Apple’s Q2 post market earnings release. Looking ahead to today, investor attention will be drawn to the April Non-Farm Payrolls report released at 13:30, which is expected to have increased by a healthy 241k, albeit this is lower than the 303k jump in March which surprised to the upside. Additionally, released at the same time, the US unemployment rate is forecast to have remained at 3.8% in March.
  • Stock: Last night, after the market closed, Apple released its Q2 2024 results, whilst Westrock issued a positive update.
  • Debt: Bond yields moved modestly lower after slightly stronger PMI numbers out of Europe.