STOCKS/ECONOMY
-Stock futures are higher after Thursday's 84-point gain for the Dow, larger 0.6 percent rise for the S&P 500, and a 1.5 percent rally for the Nasdaq. Investors are bullish again this morning on news that the Chinese government is interested in more advanced trade talks with the Trump administration.
-The April jobs report showed 177,000 net new jobs added, compared to the 133,000 economists were expecting. The unemployment rate held at 4.2 percent.
-The yield on the 10-year Treasury bond is up tp 4.27 percent.
-Gold is up to the $3,271 per ounce level. Bitcoin is up to the $96,900 level.
-Asian markets rallied today, led by a 1.7 percent advance for the Hang Seng. The Nikkei rose by 1 percent and the mainland Chinese markets were closed for the May Day holiday.
OIL/ENERGY
-U.S. crude oil prices are down and at the $58 a barrel level.
-Gasoline prices are holding at $3.18 a gallon, national average.
-Exxon Mobil (XOM) reported better than expected quarterly profits and revenues, thanks to cost cuts and production increases that offset the drop in oil prices. Its shares are up slightly in the premarket.
-Chevron (CVX) missed quarterly revenue estimates and booked a 30 percent profit decline. The company is also reducing its share buyback program. Chevron shares are down 2 percent in the premarket.
TARIFF TALK
-China says it's considering higher level trade talks with the U.S., but is issuing some preconditions which may include demanding the U.S. removal all unilateral tariffs.
-Amazon (AMZN) reported better than expected quarterly profits and revenues, but warned that uncertainty due to U.S. tariffs makes it hard to issue clear guidance. Its shares are flat in the premarket.
-Apple (AAPL) also reported better than expected quarterly profits and revenues, and also said the tariff situation was making it too hard to get a handle on full-year projections. Apple's "Apple Services" division also came in with some disappointing results. Apple shares are down 4 percent in the premarket.
EARNINGS SCORECARD
-Block (XYZ) reported weaker than expected quarterly revenues and investors are hitting the stock hard as a result. Its shares are down 22 percent in the premarket.
-Roku (ROKU) missed quarterly profit estimates. Its shares are down 9 percent in the premarket.
-Social media platform Reddit (RDDT) reported better than expected quarterly profits and revenues. Its shares are up 3 percent in the premarket.
-The language learning platform Duolingo (DUOL) issued a better than expected revenue forecast. Its shares are up 10 percent in the premarket.
-Airbnb (ABNB) issued forward revenue guidance in the mid-range of analyst estimates. Its shares are down 5 percent in the premarket.
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