| The Dow, S&P 500 and Nasdaq are on track for a second straight week of declines heading into today's trading. |
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
| Quotes as of 5/4/2018 7:47:49 AM ET | |||||||||||||||||||||||||||||||||||||||||||
| BY THE NUMBERS |
Futures were indecisive this morning ahead of the April employment report. The Dow wiped out a nearly 400 point deficit Thursday
to end the day higher. The major averages are, however, on track for a
second straight week of declines heading into today's trading. (CNBC)
Consensus forecasts for the Labor Department's April jobs report
call for 195,000 new non-farm jobs for April, compared with 103,000
in March, with the unemployment rate falling to 4.0 percent from the
prior 4.1 percent. (CNBC)
Apple (AAPL) stock could get a boost after Berkshire Hathaway's (BRKB) Warren Buffett told CNBC that Berkshire bought 75 million Apple shares
during the first quarter, bringing its total holdings to 240.3 million
shares. Berkshire will release its quarterly numbers after the bell
today, ahead of its annual meeting this weekend.
• Buffett: Obsessing over iPhone X sales in the near term 'totally misses the point' on Apple's stock (CNBC)
• Buffett: Obsessing over iPhone X sales in the near term 'totally misses the point' on Apple's stock (CNBC)
Investors
will be keeping watch on Stanford University's Annual Monetary
Conference, where CNBC's Steve Liesman will be speaking with San
Francisco Fed President John Williams and Dallas Fed President Rob
Kaplan.
IN THE NEWS TODAY
The U.S. stands ready to impose
further trade tariffs
on China if Beijing walks away from agreed-upon commitments, according
to the Wall Street Journal. The journal said the U.S. asked China to
reduce its trade surplus by $200 billion by year-end 2020.
• Cramer on trade: China could wait out Trump's presidency to make a trade deal—that's bad for stocks (CNBC)
• Cramer on trade: China could wait out Trump's presidency to make a trade deal—that's bad for stocks (CNBC)
CNBC has learned that special counsel Robert Mueller is focusing intensely on
alleged interactions between former top Trump campaign official Rick
Gates and political operative Roger Stone, one of President Donald
Trump's closest confidants.
Iran's foreign minister said the Trump administration's demands to change its nuclear agreement with world powers
were unacceptable. Trump must decide to withdraw from the accord by the end of next week. (Reuters)
The president has ordered the Pentagon
to prepare options
for drawing down U.S. troops in South Korea, The New York Times
reported. The reduction in troops is not intended to be a bargaining
chip in a meeting between Trump and Kim Jong Un.
Trump
will address
the National Rifle Association, for the fourth year in a row, after he
temporarily strayed from the group's strong opposition to tougher gun
controls following the school shooting in Florida that left 17 people
dead. (AP)
Residents in two subdivisions of Hawaii
were forced to evacuate
after the eruption of lava from the Kilauea volcano. There have been no
deaths or injuries reported. The area had several small earthquakes in
recent days. (NY Times)
The 2018 Nobel Prize in Literature
will be awarded in 2019
instead of this year. The move came after the academy that selects the
winner was engulfed in a sex abuse scandal. Six academy members have
stepped down over the crisis. (USA Today)
The Department of Agriculture recalled more than 35,000 pounds of
raw ground beef
from Kroger stores. The recall came after a reported complaint from a
consumer of hard plastic pieces found in one of the products. (Axios)
Twitter (TWTR) has urged its users to
change their passwords,
after a glitch in its internal computer system caused some passwords to
be readable. The social media company also said it saw no evidence of a
breach or misuse. (CNBC)
| STOCKS TO WATCH |
Activision
Blizzard (ATVI) earned an adjusted 38 cents per share for its latest
quarter, three cents above estimates, while the video game maker's
revenue also topped forecasts on the strength of sales for its "Call of
Duty" game. However, Activision did issue weaker than expected guidance
for the current quarter.
CBS
(CBS) came in 15 cents ahead of forecasts with adjusted quarterly
profit of $1.34 per share, with revenue topping forecasts as well. CBS
saw growth in ad sales as well as affiliate and subscription fees.
Shake
Shack (SHAK) earned an adjusted 15 cents per share for its latest
quarter, compared to a consensus estimate of eight cents, with the
restaurant chain's revenue exceeding estimates as well. Shake Shack also
raised its full-year outlook.
GoPro
(GPRO) lost 34 cents per share for the first quarter, three cents
smaller than Wall Street had anticipated. The high-definition camera
maker posted higher than expected revenue as well, with sales of entry
level cameras helping its results.
| WATERCOOLER |
"May the 4th" be with you!
Today is Star Wars Day, a day for lovers of Jedi, the Resistance and
the Skywalkers. This year's holiday comes before the next film in the
"Star Wars" saga, "Solo: A Star Wars Story," which will release later
this month. (USA Today)
| CONTRIBUTORS |
|
|
