[US market conditions]Stocks fall back, optimistic retreat to Ukraine situation-crude oil and gold rebound-Bloomberg

The US stock market fell back on the 30th. Expectations for easing tensions over the situation in Ukraine have diminished.

The S & P 500 Index fell back for the first time in 5 business days, down 0.6% from the previous day to 4602.45. The Dow Jones Industrial Average is down $ 65.38 (0.2%) to $ 35228.81. The Nasdaq Composite Index fell 1.2%. The Nasdaq 100 index, which is centered on high-tech stocks, is down 1.1%. Apple has also dropped, and the long-term surge since 2003 has stopped.

Russia said there was no breakthrough in negotiations with Ukraine. He also revealed that he is reorganizing his army to take full control of the Donbus region.

[Ukraine]Russia “has not made great progress in breaking the situation” in peace talks

“I’m skeptical about being leaning forward when it comes to expectations,” said Lisa Charlett, chief investment officer of Morgan Stanley Wealth Management. We respect the abundance of liquidity, the adjustment of S & P 500 species and the willingness to buy a bargain in response to the bear market of NASDAQ, but the risk is fundamentally increased regardless of geopolitical or fundamentals. “We continue to warn that corporate performance is becoming more vulnerable,” he said.

US Treasuries have risen, and as of 4:21 pm New York time, 10-year bond yields have fallen 6 basis points (bp, 1bp = 0.01%) to 2.34%. Two-year bond yields fell 6bp to 2.30%.

In the foreign exchange market, the dollar index continued to fall, the lowest price in four weeks. The dollar has fallen against most of the 10 major currencies. The background is the decline in US Treasury yields. Meanwhile, the euro is rising. Inflation rates in Spain and Germany have accelerated more than expected.

Inflation accelerates in Germany, high since early 90s-high energy hits

The Bloomberg Dollar Spot Index, which shows the movement of the dollar against the 10 major currencies, fell 0.5%. As of 4:22 pm New York time, the dollar was down 0.9% against the yen at 121.82 yen. The euro is up 0.7% against the dollar at 1 euro = 1.1158 dollars.

New York crude oil futures market rebounded. Expectations for a ceasefire were shattered as Russia’s presidential administration said there was no breakthrough in peace talks and the Ukrainian side pointed out that Russia was putting new troops on the front line. rice field.

“The big trend that Europe is looking for a break from Russian energy is now in place,” said Matt Sallee, portfolio manager at Tortoise. Against this backdrop, the already tight market is not just short-term. It will be even tighter in the medium term. “

The May contract for West Texas Intermediate (WTI) futures on the New York Mercantile Exchange (NYMEX) ends at $ 107.82 a barrel, up $ 3.58 (3.4%) from the previous day. The North Sea Brent May contract for the London ICE is up $ 3.22 to $ 113.45.

New York gold market rebounded. The spot recovered from the low price for the first time in a month. Demand for gold as a means of preserving value has increased against the backdrop of strong statistics on the number of US private employees and the emergence of inflationary pressures.

US ADP Private Employers Increased by 455,000 in March-Extensive Growth (1)

Gold was also supported by rising market inflation expectations and lower real bond yields.