📆 Thursday, May 2
► The Stoxx 600 index stabilized after dipping by 0.3% today, influenced by worse than expected earnings from Novo Nordisk and a significant drop in Moller-Maersk shares, which fell 4%. The disappointing earnings reports overshadowed a profit beat by Shell, which also announced a profitable quarter and $3.5 billion share buyback. Additionally, the latest manufacturing PMI data showed a contraction across major European economies with Germany's Manufacturing PMI at 42.5, indicating ongoing struggles in the manufacturing sector.
► US futures saw an uptick as market participants reacted to the Federal Reserve’s latest policy meeting where rates were left unchanged and Fed Chair Jerome Powell indicated that further interest rate hikes were unlikely in the near term but was far from as hawkish as many investors feared. This has set a cautious yet optimistic tone in the market as investors also await key earnings from Apple later today. The focus remains on how major companies are navigating the current early signs of economic slowdown, particularly with regards to consumer demand and stubborn inflation.
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