Morning Brief – May 4th 2021

The S&P 500 and the Dow ended higher, helped by a largely upbeat earnings season, while the Nasdaq came under pressure from declines in some high-flying growth stocks https://t.co/Q69rIK91mC pic.twitter.com/XFloDrikg4

— Reuters Business (@ReutersBiz) May 4, 2021

🇺🇸 #SPX | S&P 500 Undercuts Case for Selling in May and Going Away – Bloomberg
*In 8 of the last 10 years, the S&P 500 recorded gains for the six months ended in October.
*The S&P 500 produced an average gain of 3.8% for all 10 years, beating a 1.7% average since 1950. pic.twitter.com/KqyVVwP9gw

— Christophe Barraud🛢 (@C_Barraud) May 3, 2021

🇺🇸 The Manheim Index, which measures prices at wholesale auctions for used-cars, shows they’re 52% higher than they were a year ago.
*Link: https://t.co/DEOwc6YfFr pic.twitter.com/7T94Fz6Uil

— Christophe Barraud🛢 (@C_Barraud) May 3, 2021

🇺🇸 #Autos | US New Vehicle Sales for April Largely Exceeded Expectationshttps://t.co/3FR51CESIt

— Christophe Barraud🛢 (@C_Barraud) May 4, 2021

US manufacturing growth boomed in April, as the #PMI rose to a record high (60.5) amid the strongest intake of new orders for 11 years. However, producers also saw the worst delays on record, leading to soaring input costs. Read more: https://t.co/KvndqJ4QLq pic.twitter.com/Ze8dAlaW0U

— IHS Markit PMI™ (@IHSMarkitPMI) May 3, 2021

🇺🇸 U.S. APRIL ISM FACTORY GAUGE FALLS TO 60.7 VS. 64.7; EST. 65 – BBG
*U.S. APRIL ISM FACTORY PRICES-PAID INDEX AT 89.6 AFTER 85.6
*U.S. ISM MANUFACTURING PRICES INDEX HIGHEST SINCE JULY 2008 pic.twitter.com/y7DvnBvR6J

— Christophe Barraud🛢 (@C_Barraud) May 3, 2021

🇺🇸 ISM #Manufacturing | The highest reading on record for order backlogs (68.2 vs. 67.5 prior) and lowest for customer inventories (28.4 vs. 29.9 prior) suggest that production is likely to rise an extended period.
*Chart from Bloomberg ⬇ pic.twitter.com/Dnhg7DzWkF

— Christophe Barraud🛢 (@C_Barraud) May 4, 2021

U.S. construction spending rebounds less than expected in March https://t.co/PAanx2ccrp pic.twitter.com/x27RjTSFnp

— Reuters Business (@ReutersBiz) May 3, 2021

Banks eased standards for business, household loans in Q1, Fed survey shows https://t.co/do0lL1xGop pic.twitter.com/XIs6wOIL9z

— Reuters Business (@ReutersBiz) May 3, 2021

Fed’s Powell says economic recovery clouded by racial, education gaps https://t.co/DXMnt8lfKa pic.twitter.com/M1E9Xqp5l5

— Reuters (@Reuters) May 3, 2021

New York Fed’s John Williams Says Fed Far From Achieving Job, Inflation Goals https://t.co/CWtLutQDtQ

— Real Time Economics (@WSJecon) May 3, 2021

What to watch for as the U.S. Congress starts to debate President Joe Biden's $4 trillion infrastructure and families plans https://t.co/zWtLybVmjL

— Bloomberg Asia (@BloombergAsia) May 4, 2021

Top diplomats of the U.S. and U.K. pushed back against what they called Chinese and Russian violations of the global order.

U.K. Foreign Secretary Dominic Raab says there's a need for “agile clusters of like-minded countries that share the same values.” https://t.co/k5kkOp9b3T

— Bloomberg Asia (@BloombergAsia) May 4, 2021

Yellen to shake up U.S. bank regulator with new appointment -sources https://t.co/0zz2RTKqVB pic.twitter.com/C9Bmz7mJtU

— Reuters Business (@ReutersBiz) May 3, 2021

🇺🇸 #Covid_19: Daily Summary (May 4th)
➡ News
➡ Restrictions (easing)
➡ Regional/national data
➡ Vaccine trackerhttps://t.co/KAOZVXfMfI

— Christophe Barraud🛢 (@C_Barraud) May 4, 2021

🇮🇳 World’s largest vaccine maker will deliver 220 million doses to India
🇵🇭 Philippine President Rodrigo Duterte gets the Sinopharm vaccine
🇦🇺 Australian backlash grows over India ban

⬇ Here's the latest in Covid news https://t.co/V5lzEEwx95

— Bloomberg Asia (@BloombergAsia) May 4, 2021

Follow our live updates on the coronavirus here:
— Cambodia reports a daily record 938 new cases
— South Korea reports 541 new cases
— India's cases reach 20 million#COVID #coronavirus #vaccinehttps://t.co/AAqD8MuAUW

— Nikkei Asia (@NikkeiAsia) May 4, 2021

It’s not just India. Fierce new Covid-19 waves are enveloping other developing countries across the world https://t.co/PHx7ofmfWd

— Bloomberg Economics (@economics) May 4, 2021

COVID-19 vaccines have given hope to countless people. But many across Asia find themselves in a sort of purgatory — waiting for shots that are slow to arrive and watching as global infections soar higher than at any point since the pandemic began.https://t.co/WT85LHrmLz

— Nikkei Asia (@NikkeiAsia) May 4, 2021

Hong Kong is reviewing a decision to make Covid-19 vaccinations mandatory for foreign domestic workers after the decision set off a wave of criticism https://t.co/TbVRVtMRwU

— Bloomberg Next China (@next_china) May 4, 2021

South Korea’s inflation accelerated in April to the fastest pace since 2017 https://t.co/HDbEPnCM2o

— Bloomberg Economics (@economics) May 4, 2021

Australia’s weak export volumes in the first three months of this year are likely to detract from gross domestic product in the period, according to Capital Economics https://t.co/mEy9hYwrxx

— Bloomberg Economics (@economics) May 4, 2021

Australia’s central bank upgrades the economic outlook even as it maintains emergency stimulus settings https://t.co/nhbXE86ez8

— Bloomberg Economics (@economics) May 4, 2021

🇪🇺 #Europe #Covid_19: Daily Summary (May 4th)

🇫🇷 Special focus on ⚠ #France ⚠

🇩🇪 🇪🇸 🇮🇹 Data for #Germany, #Spain and #Italyhttps://t.co/0Q5tBSQ3dY

— Christophe Barraud🛢 (@C_Barraud) May 4, 2021

British Prime Minister Boris Johnson says coronavirus lockdown rules are set to be scrapped in 7 weeks’ time https://t.co/7cp6Cur2oX

— Bloomberg Economics (@economics) May 4, 2021

Italy minister says recovery plan hinges on private sector boost https://t.co/5W3Is0fOnZ

— Bloomberg Asia (@BloombergAsia) May 4, 2021

🇪🇺 EU Plans Quicker Investments in Big Projects From #Hydrogen to #5G – Bloomberghttps://t.co/p0lGW1iobw

— Christophe Barraud🛢 (@C_Barraud) May 4, 2021

The question of Scottish independence hangs over U.K. assets from the pound to banks https://t.co/Tk5gDpjufU

— Bloomberg Asia (@BloombergAsia) May 4, 2021

🇪🇺🇨🇳🇺🇸 #China Tensions Spill Over as #Europe Moves Toward #Biden’s Side – Bloomberghttps://t.co/DUna3ejn1f

— Christophe Barraud🛢 (@C_Barraud) May 4, 2021

Madrid voters to reward Prime Minister Pedro Sanchez's rival Isabel Diaz Ayuso for her determination to keep the economy open https://t.co/fe4I1dbgA6

— Bloomberg Asia (@BloombergAsia) May 4, 2021

⚠ Week Ahead – w18 (2021) ⚠https://t.co/tWd8VpNgKl

— Christophe Barraud🛢 (@C_Barraud) May 3, 2021

🏦 BOE weighs when to taper its stimulus as the UK economy rebounds
🇬🇧 UK's Johnson predicts lockdown ending June 21
📈 Productivity is finally looking up, and the gains could lift global growth
Here's a rundown of your top economic news today https://t.co/I7VuuwQdAH

— Bloomberg Economics (@economics) May 4, 2021

🌎 April Global #Manufacturing PMI: 55.8 (highest since April 2010) v 55.0 prior
*New Export Orders: 54.7 (highest since May 2010) v 53.5 prior
*Link: https://t.co/Y1iYiUApT2 pic.twitter.com/eYQDUHEZVx

— Christophe Barraud🛢 (@C_Barraud) May 3, 2021

🌎 On a seasonally adjusted basis, the RWI/ISL index rose 1% MoM in March and points to further gains for global trade growth.
*Link: https://t.co/4Px2UXnmd5 pic.twitter.com/lTYYowomfN

— Christophe Barraud🛢 (@C_Barraud) May 4, 2021

Global Freight continues higher.. from @Ole_S_Hansen pic.twitter.com/f9QBDP76Ct

— Steen Jakobsen (@Steen_Jakobsen) May 3, 2021