Global Market Trend As Of Apr., 6th 2022

Analyst Views
U.S Markets, the comments of Federal Reserve Governor Lael Brainard on Tuesday that said the central bank would "continue tightening monetary policy methodically through a series of interest rate increases" and start to reduce the balance sheet at a rapid pace as early as May, stoked a negative investors' pessimism. The market dropped across the board.

The Dow Jones Industrial Average ended Tuesday's session down 280.70 points at 34,641.18, while the S&P 500 fell 1.26%. The Nasdaq Composite plunged 2.26%, marking its worst day since March 7.

Commodities, oil fell 2.4% as reports of new sanctions coming in the Russia-Ukraine conflict worried investors. Oil remains above the $100 per barrel mark.

World Bank, The World Bank downgraded its 2022 growth forecast for the Asia-Pacific region to 5% from 5.4%, in part due to disruptions to supplies of commodities, financial strains and higher prices. That follows a rebound to 7.2% growth in 2021 after many economies experienced downturns with the onset of the pandemic. The report forecasts slower growth and rising poverty in the Asia-Pacific region this year as "multiple shocks" compound troubles for people and for businesses.

PMI, In economic data, the S&P Global Markit services PMI for March was revised down to a reading of 58, up from 56.5 in February, but lower than the earlier-released flash estimate of 58.9. 

Airlines, shares of Spirit Airlines soared 22% following news that JetBlue made an offer of $33 per share in cash to acquire the carrier. The offer, which implies a fully diluted equity value of $3.6 billion, comes less than two months after Frontier said it would buy Spirit in a $3 billion deal. 

JetBlue said that it "firmly believes its proposal constitutes a "superior proposal" under Spirit’s merger agreement with Frontier and represents the most attractive opportunity for Spirit’s shareholders."

Twitter continued its climb after Tesla CEO Elon Musk was named to the company's board. Shares soared 27% during Monday's trading session, rallying on Musk's disclosure of a 9.2% stake in the company, making him Twitter's largest shareholder. 

Crypto Exchange, shares of crypto exchange Coinbase have also dropped over 7% after Mizuho cut its price target from $220 to $190 per share. The investment firm questioned Coinbase's plan to launch a non-fungible token (NFT) platform, citing "dwindling" interest from the public.

SPOT MARKET  BY THE HOUR AS OF GMT 09: 46  04-05-22