Plus: 76% of S&P 500 companies have beaten earnings expectations so far
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The Numbers: The Dow Jones Industrial Average lost 0.23% last week, ending its four-week winning streak. Zoom Out: The S&P 500 fell 0.1%, while the Nasdaq was the worst-performing index last week, losing 0.42%. Earnings Update: Markets are being most impacted by the ongoing earnings season. So far, with 18% of S&P 500 companies reporting, 76% have beaten Wall Street analysts' EPS estimates.
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US Markets U.S. markets rose slightly on Friday but futures were mostly flat over the weekend. - Procter & Gamble reported earnings on Friday, beating expectations and raising its forecasts for the rest of 2023. Shares jumped 3.5% in response.
- Lithium miner Albemarle lost more than 10% after Chile said it plans to nationalize its domestic lithium industry.
- The current 10 Year U.S. Treasury yield is set at 3.57660%
| Dow Jones | 33,808.96 | 0.07% | | S&P 500 | 4,133.52 | 0.09% | | Nasdaq | 12,072.46 | 0.11% | | Russell 2000 | 1,791.51 | 0.10% | *Stock Market data as of the last closing bell. Data received directly from the reference indexes through ICE Data Services. Do you not understand any of these figures? Check out our explainer.
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Canadian Markets Construction of Volkswagen's new electric vehicle battery plant in St.Thomas, Ontario, has begun. - It will be Volkswagen's first gigafactory outside of Europe.
- The facility will aim to produce enough batteries for one million EVs each year.
- It's expected to employ 3,000 people and indirectly create 30,000 jobs in the local economy.
- The plant will cost $7B, with $500M paid by the Ontario government and $700 by the Canadian government.
*Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services
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European Markets European stocks were volatile on Friday but finished up on the day as investors continued to react to corporate earnings. - The Stoxx 600 gained 0.25%, led by a 1.8% increase in healthcare stocks.
- German software company SAP was amongst the best-performing companies, gaining 5% after announcing higher-than-expected revenues and profits.
- Mining stocks fell 3.7%, dragging down markets.
| Euro STOXX 50 | 4,408.59 | 0.54% | | UK (FTSE 100) | 7,914.13 | 0.15% | | Germany (DAX) | 15,881.66 | 0.54% | | France (CAC 40) | 7,577.00 | 0.51% | *European stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.
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Asian Markets Stocks in Asia fell on Friday as investors reacted to new economic data. - Core inflation in Japan came in at 3.1% in March, unchanged from a month earlier. Japan's inflation hit 4.2% in January, a 42-year high.
- Bank of America raised its forecast for China's economic growth in 2023, from 5.5% to 6.3%.
- Tech and automotive stocks in China lost ground in response to the steep decline in Tesla's stock last week.
| S&P Asia 50 | 4,606.41 | -1.32% | | Japan (Nikkei 225) | 28,564.37 | -0.33% | | South Korea (KOSPI) | 2,544.40 | -0.73% | | China (Hang Seng) | 20,075.73 | -1.57% | | India (SENSEX) | 59,655.06 | 0.04% | *Asian stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.
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Commodities Oil prices rose on Friday as investors reacted to economic data from Europe but closed the week down. - Brent crude and U.S. West Texas Intermediate (WTI) both gained 0.8% on Friday but fell over the weekend.
- Brent and WTI lost 5.5% and 5.7%, respectively, last week.
- In India, oil processing was near an all-time high in March.
| Oil (NYSEARCA:OIL) | 29.28 | -0.71% | | Gold (NYSEARCA:GLD) | 184.25 | -0.99% | | Silver (NYSEARCA:SLV) | 22.98 | -0.82% | | Corn (NYSEARCA:CORN) | 24.41 | -1.85% | | Lumber (NASDAQ:WOOD) | 71.35 | -0.56% | *Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities, click here.
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Currency Exchange Rates The U.S. Dollar fell slightly on Friday as investors continued to react to new economic data. - The U.S. Dollar Index lost 0.02% on Friday, finishing the week at 101.82.
- Preliminary data suggests that most of the Eurozone, including Germany and France, are seeing better-than-expected growth in the services sector this month.
- The Federal Reserve, Bank of England, and European Central Bank are all expected to raise their interest rates in the first week of May.
| UK(GBP) | £0.80 | 0.01% | | Europe (EURO) | €0.90 | -0.01% | | Canada (Canadian Dollar) | $1.35 | -1.09% | | Japan (Yen) | ¥134.01 | -0.11% | *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them, click here.
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 |  | Liam Gill is a lawyer who raised $250k with just an idea and turned it into a $35M tech startup.
He now teaches entrepreneurs how to Pitch, Negotiate and Strategize so they can do the same.
Let's Connect |   | | Editor | Eduardo Garcia is a writer and editor based in New York. He is the author of "Things You Can Do," an illustrated book about climate action. Bylines in The New York Times, The Guardian, Slate, Scientific American, and others. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
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