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Showing posts from April, 2022

Wall Street Closing Report | Friday, April 29, 2022:

 Source: cnbc.com Dow tumbles more than 900 points and the Nasdaq drops 4% on Friday to close out a brutal month Hannah Miao, Tanaya Macheel 4-5 minutes U.S. stocks sunk Friday with the Nasdaq Composite notching its worst month since 2008, as Amazon became the latest victim in the technology-led sell-off. The tech-heavy Nasdaq Composite fell 4.2%, weighed down by Amazon's post-earnings plunge. The index closed at a new low for the year. The S&P 500 retreated by 3.6%, also closing at a fresh low. The Dow Jones Industrial Average shed about 940 points, or 2.8%. Stocks closed out a dismal month as investors contended with a slew of headwinds, from the Federal Reserve's monetary tightening, rising rates, persistent inflation, Covid case spikes in China and the ongoing war in Ukraine. "The markets are trying to wrap around a lot of different cross-currents," BMO Wealth Management's Yung-

Metals | Spot Prices at Close | Friday, April 29, 2022:

 Source: cmigold&silver Spot Prices as of close of trading in New York Friday, April 29, 2022

Europe Markets Closing Report | Friday, April 29, 2022:

 Source: cnbc.com European stocks close higher on earnings boost; Stoxx 600 falls over 1% in April Elliot Smith 3-4 minutes LONDON — European markets closed higher Friday as global stocks received a boost from strong corporate earnings, but were still negative for the month of April. The pan-European Stoxx 600 index closed up 0.7% provisionally, with basic resources climbing 2.6% to lead gains as most sectors and major bourses entered positive territory. However, the index was down over 1% for the month as investors navigated the final trading day of April. Shares across major markets were buoyed on Thursday by a robust round of corporate earnings, with a positive session in Wall Street leading into optimism in Asia-Pacific shares on Friday. Hong Kong's Hang Seng index gained 4% as tech shares bounced. However, U.S. stocks opened lower on Friday, with the Nasdaq pulling back sharply after Amazon's a

Stocks Biggest Moves Premarket | Friday, April 29, 2022:

Source: cnbc.com Stocks making the biggest moves premarket: Robinhood, Amazon, Apple, Roku and more Sarah Min 3-4 minutes Vlad Tenev, CEO and co-founder Robinhood Markets, Inc., is displayed on a screen during his company’s IPO at the Nasdaq Market site in Times Square in New York City, U.S., July 29, 2021. Brendan McDermid | Reuters Check out the companies making headlines in premarket trading Friday. Apple — Apple's stock price dipped 2% after CFO Luca Maestri said supply chain issues would hurt third-quarter sales by as much as $8 billion. Still, many analysts on Wall Street remained positive on the company after its recent earnings report that topped expectations. One analyst said any weakness in the stock is a buying opportunity . Amazon — Shares dropped more than 9% after Amazon disclosed weaker-than-expected revenue guidance for the second quarter. The tech giant also posted a $7.6 billion loss

Tech News | Apple Q1 Supply Problems | Friday, April 29, 2022:

 Source: reuters.com Apple sees bigger supply problems after strong start to year April 29, 20225:02 AM GMT-5 5-6 minutes OAKLAND, Calif., April 28 (Reuters) - Apple Inc (AAPL.O) on Thursday forecast bigger problems as COVID-19 lockdowns snarl production and demand in China, the war in Ukraine dents sales and growth slows in services, which the iPhone maker sees as its engine for expansion. Shares were down 2.2% in late trade after executives laid out their glum outlook on a conference call. The news outweighed record profit and sales for Apple's fiscal second quarter, which ended in March. Chief Financial Officer Luca Maestri warned in an interview that the war in Ukraine, which led Apple to stop sales in Russia, would cut sales more deeply in the fiscal third quarter. He told analysts on the call that supply-chain issues would hurt sales in the quarter by $4 billion to $8 billion, "substantially

Latest COVID News | Friday, April 29, 2022:

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 Source: bloomberg.com Covid Is Changing. Our Data Haven't Kept Up Drew Armstrong, Cynthia Koons 5-6 minutes Make sense of the headlines and the outbreak's global response with the Coronavirus Daily. Make sense of the headlines and the outbreak's global response with the Coronavirus Daily. Make sense of the headlines and the outbreak's global response with the Coronavirus Daily. Here the latest from the pandemic. China defends Covid Zero for turning around worst outbreak  Apple warns of $8 billion hit from China lockdown , shortages Omicron sublineages likely to evade vaccines and immunity The U.S. has a Covid data problem Earlier this year, a few states made a little-noticed change in how they counted Covid-19. In their daily tallies of hospitalizations, New York and Massachusetts began to differentiate between people who were admitted because of the virus, and those who’d come in for somet

Russia-Ukraine Crisis | Friday, April 29, 2022:

 Source: reuters.com UK organisation says Russian forces holding two aid workers in Ukraine April 29, 20225:59 AM GMT-5 2-3 minutes LONDON, April 29 (Reuters) - Two British volunteers working to provide humanitarian relief in Ukraine have been detained by the Russian military at a checkpoint south of Zaporizhzhia, according to an aid organisation. There was no immediate comment from the British foreign ministry. "The foreign office is doing all it can to support and identify these two people," British trade minister Anne-Marie Trevelyan told Sky News. The non-profit Presidium Network said the two men, both civilians, were working independently as part of a project in Ukraine to providefood, medical supplies and evacuation support. Dominik Byrne, the organisation's co-founder, said the men had gone missing after going into Russian-held territory where they were planning to help evacuate a woman

Economy | US Economy | Friday, April 29, 2022:

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 Source: wsj.com Employer Spending on Labor Likely Rose in First Quarter, Economists Say Gabriel T. Rubin 6-7 minutes U.S. employers likely faced rising wages and benefits costs in the first quarter, economists say, as a tight labor market spurred organizations to compete for workers. Business and government employers spent 4% more on worker costs in the fourth quarter compared with the same period a year earlier, without adjusting for seasonality, an increase not seen since 2001. Economists surveyed by The Wall Street Journal estimate the first quarter saw similar upward pressure on labor costs, with a seasonally adjusted increase of 1.1% in the first quarter compared with the prior one.   Higher compensation costs are among the factors companies say are leading them to raise prices on goods and services. They also cite supply-chain disruptions, high energy and commodity prices pushed upward by the Ukrain

US Stocks Futures Indication | Friday, April 29, 2022:

 Source: cnbc.com Stock futures fall as Amazon and Apple retreat after earnings Tanaya Macheel 3 minutes U.S. stock futures fell early Friday morning following an extravaganza of Big Tech earnings that featured results from Amazon and Apple. Futures tied to the tech-heavy Nasdaq 100 fell 1%, while Dow Jones Industrial Average Futures were down 119 points, or 0.35%. S&P 500 futures retreated by 0.71%. Investor focus was on Amazon, whose shares tumbled around 9% in extended trading after reporting Thursday evening a surprise loss thanks to its investment in Rivian and issued weak revenue guidance for the second quarter. Apple shares were also under pressure, falling more than 2% after CFO Luca Maestri said supply chain constraints could hinder fiscal third-quarter revenue. That comment overshadowed a a big earnings beat for the previous quarter. Intel also reported earnings Thursday evening. The stock fell

Oil Price Report (Early Morning Edition) | Friday, April 29, 2022:

 Source: cnbc.com Oil eases as China lockdowns weigh on demand outlook 3 minutes Oil prices were mixed on Friday as China's COVID-19 lockdowns weighed on the outlook for crude demand, although supply disruption fears as Western sanctions curb crude and products exports from Russia underpinned prices. Brent crude futures rose 15 cents to $107.74 a barrel by 0410 GMT after gaining 2.1% in the previous session. The front-month June contract expires later on Friday. The more active July contract rose 26 cents to $107.52 a barrel. U.S. West Texas Intermediate crude dipped 3 cents to $105.33 a barrel after settling 3.3% higher on Thursday. Both contracts are set to close the week higher, with WTI on track to post five straight months of gains, buoyed by the increased likelihood that Germany will join other European Union member states in an embargo on Russian oil. Still, oil prices have been volatile as Beij