The S&P 500 suffered its worst loss since February last week as earnings reports continue to be released. Heading into the first day of trading in May, we’re experiencing U.S. shares rising in early-morning trading as emerging market assets slip.

Gold has peaked at a 15-month high on the day.

Japan led a selloff of equities in the Asian market, while the S&P 500 is being fueled by positive earnings results. Oil prices slid in early morning trading after rallying 20% in April. The euro also rebounded on the day, reaching $1.15 for the first time since August, while gold hit above the $1,300 an ounce mark.

Here’s what you need to know heading into the first week of May trading:

Brent Oil is Down 0.5%

Brent oil has retreated slightly on the day, down 0.5%. Oil prices are down on the news that Iraq has reached near-record output for oil, causing oil’s supply glut to widen. Brent crude is sitting at $47.13 a barrel, with Iraq averaging production levels of 3.36 million barrels a day in the month of April.

The country output 3.29 million barrels per day in March by comparison.

Treasury 10-year Yields at 1.84%

Treasury 10-year yields remained stagnant on the day, holding at 1.84%. The yield fell 5 basis points last week. London markets are closed for the day.

Germany’s 10-year bonds fell one basis point down to 0.27% in April. Three weeks of strong performance pushed Germany’s bond prices as high as 0.31% on April 27. Canada’s bonds have suffered over the last month, with the country posting its worst month in 12 months. The country’s bonds suffered due to uncertainty from the central bank.

Japan’s 20-year notes fell 5 basis points down to 0.24%.

3 Markets Are Closed on Monday

Several markets are closed on Monday, with trading closed in the U.K., China and Hong Kong. Japan’s markets will also be closed Tuesday through Thursday. Japan’s markets were also closed on Friday.

Earnings reports will be a deciding factor in the fall and rise in US markets in the first week of May.