Equity markets across the globe saw little change last week despite the significant uptick in the volume of earnings being released for Q1. US equities finished the week unchanged with the technology sector taking the spotlight as Goliaths Facebook and Google (Alphabet) climbed 8% and 2.3%, respectively, while Microsoft fell -3.4%. These announcements coincided the Federal Reserve reiterating its plans of holding off any interest rate hikes which also resulted in the rise of 10-year Treasury yields.
Across the Atlantic, the FTSE 100 rose just shy of 0.5% while European equities closed slightly below zero. The eurozone is looking more optimistic however, as vaccination programmes begin to strengthen after suffering some manufacturing and distribution difficulties earlier this year. Notably, Germany recorded 1.1 million vaccinations in one day last week, as the region’s biggest economy hopes to rectify its likely contraction during the previous quarter. Elsewhere, France has announced its four-step plan to ease lockdown restrictions in its bid to also stimulate its economy.