U.S. index futures slumped on the final trading day of April, dragged lower alongside European and Asian markets, despite stellar economic data and blockbuster earnings as traders took a month-end breather amid a record high for the S&P 500 Index and some earnings disappointments. The dollar pared April losses, and the VIX jumped.
Russell 2000 futures tumbled 1.1% and Nasdaq 100 futures dropped 0.8% after China’s antitrust crackdown weighed on Asian technology shares.
Twitter plunged 13% in premarket trading after forecasting second-quarter revenue below some expectations, while Amazon s blockbuster earnings helped push the stock to all time highs, although gains were trimmed in the premarket.
May 03 2021, 4:44 AM
April 30 2021, 3:28 AM
May 03 2021, 4:44 AM
(Bloomberg) Stocks dropped from a record as traders assessed corporate earnings, economic data showing potential inflation pressures and hawkish remarks from a Federal Reserve official. The dollar climbed.
(Bloomberg) Stocks dropped from a record as traders assessed corporate earnings, economic data showing potential inflation pressures and hawkish remarks from a Federal Reserve official. The dollar climbed.
The S&P 500 trimmed its biggest monthly advance since November, with energy and technology shares leading declines on Friday. Twitter Inc. tumbled as the social media company posted a sluggish start to the year in its advertising business. Despite living up to Wall Streetâs profit expectations, Chevron Corp. retreated after disappointing investors who were anticipating a revival of buybacks.
Stocks dropped from a record as traders assessed corporate earnings, economic data showing potential inflation pressures and hawkish remarks from a Federal Reserve official. The dollar climbed.
The S&P 500 trimmed its biggest monthly advance since November, with energy and technology shares leading losses on Friday. Twitter Inc. sank as the social media company posted a sluggish start to the year in its advertising business. Despite living up to Wall Streetâs profit expectations, Chevron Corp. slid after disappointing investors who were anticipating a revival of buybacks.
Signs of excess risk taking in markets show itâs time to start debating a reduction in bond purchases, said Robert Kaplan, president of the Dallas Fed, breaking ranks with Chairman Jerome Powell. Data showed personal incomes soared in March by the most in monthly records back to 1946, powered by fiscal stimulus. A key measure of consumer prices that the Fed officially uses for its target had the biggest
Biden Offers a Can-Do Unity Vision With Rich Paying ‘Fair Share’ Bloomberg 2 hrs ago Justin Sink and Alex Wayne
(Bloomberg) President Joe Biden declared the U.S. has turned the corner on a pandemic that’s killed more than half a million Americans and crippled the economy, promising tax increases on the wealthy to pay for ambitious plans to spend trillions on infrastructure, education and other Democratic priorities.
“America is on the move again,” Biden said in his first address to a joint session of Congress on Wednesday. “Turning peril into possibility. Crisis into opportunity. Setback into strength.”
But he warned corporations and wealthy Americans that he expects them to carry more of the burden of financing the nation’s advancements.
U.S. Futures, Asia Stocks Up on Stimulus, Earnings: Markets Wrap
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U.S. Futures, Asia Stocks Up on Stimulus, Earnings: Markets Wrap
(Bloomberg) U.S. equity futures jumped Thursday and Asian stocks rose, buoyed by robust earnings from technology heavyweights and the prospect of more stimulus to spur the economic recovery from the pandemic.
S&P 500 and Nasdaq 100 contracts were in the green, with the latter outperforming after Apple Inc. crushed revenue estimates and Facebook Inc. reported increases in sales and users. In South Korea, Samsung Electronics Co. beat analysts’ profit forecasts but warned of further fallout from chip shortages. Hong Kong and China gained. Japan is shut for a holiday.