Dow gains on Apple earnings US market news May 5th

Today’s main global market news –

1. Dow Jones Futures Increase as Apple Earnings Top, DraftKings Explodes, and PacWest Slams the Market Once More
2. The Dow plunges today as the PacWest bankruptcy causes further suffering ahead of the employment report.
3. PacWest increases concerns about a worsening financial crisis as Wall Street declines.
4. As nonfarm payrolls data approaches, gold holds around record high levels.
5. Exclusive-Bain Capital nearing completion of $6 billion Asia fund, sources
6. Barr, the CEO of IHG, which owns Holiday Inn, will retire.
7. Big risks and benefits come with Ukraine’s nuclear agreement with Canadian company Cameco.
8. Oil holds steady after a rough week, while labour statistics are expected
9. American financial issues persist, and PacWest extends decreases.
10. Threat of a US ban doesn’t deter TikTok marketers from using the app.
11. Stronger iPhone sales drove Apple Q2 earnings over predictions; $90 billion in buybacks was announced.
12. Exclusive: US officials investigating potential’manipulation’ of banking stock
13. Broadcom wants to persuade EU antitrust authorities about the $61 billion VMware merger.
14. American stocks are declining as bank concerns overshadow Fed optimism.
15. Qualcomm’s “sobering report” adds to the chip doom.
16. Job losses at Shopify and a surprising profit drive up shares by approximately 19%
17. Rivian and Mitchell execute a data licencing deal.
18. Shares of Synaptics fell by 21% on an earnings warning, although analysts are upbeat
19. Due to first-quarter sales exceeding estimates, Adidas is “optimistic.”

GLOBAL NEWS 

1. 1. Caixin PMI reports that China’s services sector is expanding, although at a slower rate.
   2. The ‘gold bill’ to increase foreign reserves has been approved by the Bolivian senate.
   3. Strong summer reservations helped Air France-KLM outperform expectations for Q1 revenue.
   4. New Zealand’s rapid immigration runs the risk of fueling inflation and driving up rates.
   5. Asian equities rise, but China declines due to negative data
   6. Caixabank of Spain’s Q1 net profit climbs 21% on lending revenue
   7. Old issues cloud Japan’s Kishida’s trip to South Korea, according to Factbox
   8. German data is in the rearview mirror, says Marketmind.
   9. As rate increases hurt margins, Australia’s ANZ looks beyond housing.
   10. Macquarie’s head of commodities and markets makes $39 million more than the CEO.
   11. Indonesia Q1 GDP exceeds expectations in both government and consumer expenditure
   12. China will increase loan assistance for projects involving private investment
   13. Rates are increased by 25 basis points by the ECB.
   14. Ahead of the anticipated ECB rate move, stocks and the euro decline.
   15. In spite of a modest ECB rate increase, oil prices remain constant.
   16. As oil prices stop falling, the Russian rouble soars to a one-month high.
   17. Government sources: Argentina requests US and Brazilian cooperation for quicker IMF payments.

Economic Calendar

Friday, May 5th

•   8:30 AM ET                  Nonfarm Payrolls for April
•   8:30 AM ET                  Private Payrolls for April
•   8:30 AM ET                  Unemployment rate for April
•   8:30 AM ET                  Average Hourly Earnings M/M for April
•   1:00 PM ET                   Baker Hughes Weekly rig count data
•   3:00 PM ET                   Consumer Credit for March

ECONOMIC DATA

1. U.S. Q1 non-farm productivity decreased by 2.7% compared to expectations (-1.8%) and Q4 (+1.6%); Q1 non-farm unit labour costs increased by 6.3% over expectations (+5.5%) and Q4 (+3.3%).
2. Weekly Jobless Claims increased to 242,000 last week from 229,000 the week before and an estimated 240,000; the 4-week moving average increased to 239,250 from 235,750; and continuous claims decreased to 1.805 million from 1.843 million the week before.
3. U.S. March trade deficit $64.2 billion, compared to consensus expectations of $63.3 billion and a deficit of $70.6 billion in February; March goods deficit $86.59 billion, services surplus $22.37 billion; March exports +2.1% and imports -0.3%
4. Atlanta Fed GDPNow : Real GDP growth (seasonally adjusted annual rate) for the second quarter of 2023 is estimated by the Atlanta Fed GDPNow model at 2.7% on May 4, up from 1.8% on May 1.

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