S&P 500 (SPX), Nasdaq (QQQ) Day Ahead: Look out above, more records beckon
Here is what you need to know on Friday, April 30:
Equity markets look to round out yet another positive week after Big Tech smashes earnings. Well, all except for Twitter (TWTR), which disappointed on user growth. The rest smashed it with Apple, Amazon, Facebook and Google all posting strong earnings. The Fed remains supportive, so equities have to go up.
What can derail the bull train? Not much for now. Maybe some month-end profit-taking. Regardless, it is off to Disneyland as it reopened after 13 months of being closed!
The dollar steadies itself as it retakes 1.21 versus the euro after the Fed and Powell gave it a bashing on Wednesday. Oil has also retreated to $63.50, 10 year yields are steady at 1.64%, and Bitcoin is bouncing back to $55,000.
European markets are positive apart from the EuroStoxx, which is down 0.2%. The Dax is +0.3%, and the FTSE is also +0.3%.
US futures are all pointing to profit-taking after recent rallies with the Dow -0.5%, Nasdaq -0.7%, and the S&P 500 -0.4%.
Wall Street top news
EU GDP -1.8% versus -2% forecast.
EU regulators say Apple (AAPL) has distorted competition in the music streaming market. Spotify (SPOT) stands to benefit.
US Personal Income +21.1% versus 20.2% forecast.
US Consumer spending +4.2% versus 4.1% forecast.
AMZN smashes earnings, shares up 2% premarket.
TWTR beats earnings, but user numbers and guidance disappoint, shares down 12% premarket.
Chevron (CVX) earnings in line but stock drops 2%. more.
Exxon Mobil (XOM) beats on earnings and revenue, but again stock drops premarket. more.
DIS: Disneyland California reopens after 13 months today, Friday.
Skyworks Solutions (SWKS) beat estimates, shares down 7% premarket as outlook disappoints.
Colgate-Palmolive (CL) beat estimates, shares up 2% premarket.
AstraZeneca (AZN) results beat, sees covid vaccine sales of $275 million in Q1. CEO says has not overpromised on supply capabilities.
Gilead Sciences (GILD) missed estimates for its earnings and shares down 3% premarket.
Texas Roadhouse (TXRH) beat earnings estimates, shares up 4% premarket.
Barclays (BCS) reported strong earnings, but shares fell 7% premarket due to concerns over rising costs.
Nestle to buy The Bountiful Company from KKR for $5.75 billion.
Vaccitech (VACC) prices its IPO at $17. Company involved in technology for AZN/Oxford covid vaccine.
Palantir (PLTR) CEO gets pay package of $1.1 billion for 2020.
Berkshire (BRKA, BRKB) AGM tomorrow, Saturday.
Western Digital (WDC) earnings beat estimates, shares up 4% premarket.
Ups and downs
AMZN: nearly easier to say who did not raise price target. Cannacord, Raymond James, Mizuho, Morgan Stanley, Susquehanna, JMP, Keybanc all raise price target.
TWTR: Rosenblatt, Oppenheimer, Keybanc all lower price target.
CAT: Credit Suisse raises price target.
Mastercard (MA): Morgan Stanley and Jefferies raise price target.
McDonald's (MCD): Morgan Stanley, Wedbush, Keybanc all raise price target.
Comcast (CMSCA): Raymond James and Goldman Sachs raise price target.
Economic releases, see all
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Author
Ivan Brian
FXStreet
Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.
