Commodities Surge, Tesla Earnings, Durable Goods – What’s Moving Markets By Investing.com – Investing.com

Commodities Surge, Tesla Earnings, Durable Goods – What’s Moving Markets By Investing.com – Investing.com

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By Geoffrey Smith 

Investing.com -- Industrial and agricultural commodities prices hit multiyear highs in sync, albeit for different reasons. Tesla (NASDAQ:) is exported to report a 66% rise in revenue after the close, but stocks are seen opening quietly ahead of megacap tech earnings and the Federal Reserve meeting later this week. Durable goods orders for March are due. The EU is getting ready to let U.S. tourists back in, and oil falls amid concerns that India's growing Covid-19 crisis won't be reflected in this week's meeting of OPEC and other major exporters. Here's what you need to know in financial markets on Monday, April 26th.

1. Commodities lifted by recovery hopes, weather issues

prices hit their highest in 10 years, while soybeans, wheat and corn traded near their highest in eight years as the post-pandemic tide of liquidity continued to lift practically every boat in sight.

Copper has been rallying all year but buying has strengthened in recent weeks in anticipation of demand from the automotive industry, whose transition to electric vehicles has accelerated this year.

U.S. soybean, wheat and corn futures, meanwhile, are at their highest in eight years, due more to short-term supply concerns. Another cold snap across much