The S&P 500 was up 0.8 per cent in afternoon trading. The Dow Jones was up 0.4 per cent in late trade and the Nasdaq composite was 0.9 per cent higher. The Australian sharemarket is set to rise, with futures at 4.57am AEST pointing to a rise of 42 points, or 0.6 per cent, at the open. The ASXBerkshire Hathaway added 0.6 per cent after Warren Buffett’s company reported its latest quarterly results over the weekend. Freshpet jumped 9.
But markets found a burst of optimism at the end of last week following a cooler-than-expected jobs report. It suggested the US economy could nail the tightrope walk of staying strong enough to avoid a bad recession, but not so firm that it puts too much upward pressure on inflation. This upcoming week won’t include such highly anticipated events as last week’s Fed meeting or monthly jobs report. This week’s highlights instead could come from a number of speeches by Fed officials or from Friday’s preliminary report on consumer sentiment.The bulk of companies in the S&P 500 have also already reported their results for the first three months of the year, with more than three-quarters of them topping profit expectations, according to FactSet.
In the bond market, which has been dictating much of the action in the stock market recently, Treasury yields were holding relatively steady.
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