US Markets Stocks are expected to rise in early trading on Friday after Apple's first-quarter results beat expectations. - The U.S. added 253,000 jobs in April, higher than expected. The unemployment rate is now at 3.4%, down from 3.5% in March, and above expectations of 3.6%.
- The U.S. unemployment rate is currently at its lowest level since 1969.
- Regional banks rose overnight after falling significantly this week. PacWest soared nearly 20% and Western Alliance surged over 10%.
- Apple gained 2.7% in pre-market trading after the tech giant reported that iPhone sales in the first quarter were higher than expected, helping the company beat revenue and profit expectations.
- The current 10 Year U.S. Treasury yield is set at 3.43600%
| Dow Jones | 33,127.74 | -0.86% | | S&P 500 | 4,061.22 | -0.72% | | Nasdaq | 11,966.40 | -0.49% | | Russell 2000 | 1,718.81 | -1.18% | *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.
| |
The Figures: Warner Bros reported a higher-than-expected loss in the first quarter as its revenues came in slightly under expectations. Streaming: Warner Bros is in the process of pivoting away from TV towards streaming. The company had 97.6 million streaming subscribers at the end of March, up from 96.1 million in December 2022. Upside: The direct-to-consumer section of the business had higher-than-expected revenues and posted a profit of $50M. With Warner Bros turning its focus to streaming, this can bode well for the future of the company.
| |
 A message from VANTA To close and grow major customers, you have to earn trust. But demonstrating your security and compliance can be time-consuming, tedious, and expensive. Until you use Vanta. Trusted by over 5,000 global customers, Vanta: -
Automates up to 90% of compliance for SOC 2, ISO 27001, GDPR, HIPAA, and more, getting you audit-ready in weeks -
Helps your business scale and thrive while reducing the need for countless spreadsheets and endless email threads -
Saves you hundreds of hours of manual work and up to 85% of compliance costs And because Vanta is all about saving you time, here’s a 3-minute video showing you how Vanta’s platform can help you automate compliance, simplify security, and build trust to accelerate business growth. Watch it Here
| |
European Markets European markets rose on Friday morning after falling on Thursday. - The Stoxx 600 closed down 0.45% on Thursday. The index fell deeper into the red earlier in the day, after the European Central Bank announced a 25-basis-point interest rate hike.
- Annual inflation in the Euro Zone increased to 7% in April, up from 6.9% in March. Despite this, core inflation dropped to 5.6% from 5.7% in March.
- The Stoxx 600 was up 0.4% in early trading, led by a 2.1% jump in oil and gas stocks.
| Euro STOXX 50 | 4,307.97 | 0.49% | | UK (FTSE 100) | 7,742.38 | 0.52% | | Germany (DAX) | 15,855.87 | 0.77% | | France (CAC 40) | 7,385.26 | 0.61% | *European stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.
| |
Asian Markets Markets in Asia were mixed as they reacted to volatility in U.S. bank stocks and the decline of the major U.S. indexes this week. - Stocks in Australia fell during the trading session before rebounding late in the day to finish up 0.37%.
- The Services Purchasing Managers Index for April in China fell from 57.8 in March to 56.4 in April, showing that the growth rate in China's services sector is decreasing.
- Japanese and South Korean markets were closed for holidays.
| S&P Asia 50 | 4,560.91 | 1.52% | | Japan (Nikkei 225) | 29,157.95 | 0.00% | | South Korea (KOSPI) | 2,500.94 | 0.00% | | China (Hang Seng) | 20,049.31 | 0.50% | | India (SENSEX) | 61,054.29 | -1.13% | *Asian stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.
| |
 A message from PUBLIC.COM Lock in a 5% Yield on Your Cash in Less than 30 Seconds Treasury Accounts are officially live on Public, offering a new way to lock in a 5.0% yield on your cash in literally seconds. (That’s significantly higher than a high-yield savings account.) It’s easy to get started. Once you create your Treasury Account, you can move your cash into the safety of US Treasury bills.
As a Public member, you can now instantly invest your cash in 26-week Treasury bills. At the time of your deposit, you lock a fixed rate of return, backed by the full faith and credit of the US government. Public then stores your Treasury bills at The Bank of New York Mellon—the world's largest custodian bank and securities services company.
Once your Treasury bills reach maturity, they are automatically reinvested, so you have one less thing to think about. However, you also have the option to sell your Treasury bills at any time—even before they reach maturity. So, it's the best of both worlds: the high yield of US Treasuries and the flexibility of a savings account. Join Public
| |
Canadian Markets New data from Statistics Canada shows that the Canadian economy added more jobs than expected in April. - The economy added 41,000 jobs, surpassing the 20,000 economists had expected.
- Unemployment in Canada remains at 5%.
- Recent employment grains could be linked to the growth of Canada's population.
- Some analysts are concerned that if the job market overheats, wages will go up, which could lead to higher inflation ― wages are already growing faster than inflation.
*Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services
| |
Commodities Oil prices rose on Friday morning but remain on track for a third consecutive week of losses. - Brent is up 1.7% today and U.S. West Texas Intermediate (WTI) has gained 1.65%.
- Brent and WTI are set to finish the week down 7% and 9%, respectively.
- Economic concerns in the U.S. and China are putting downward pressure on oil prices.
| Oil (NYSEARCA:OIL) | 26.44 | 0.57% | | Gold (NYSEARCA:GLD) | 190.44 | 0.00% | | Silver (NYSEARCA:SLV) | 23.94 | 0.00% | | Corn (NYSEARCA:CORN) | 23.47 | -0.09% | | Lumber (NASDAQ:WOOD) | 70.76 | -0.48% | *Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities, click here.
| |
Currency Exchange Rates The U.S. Dollar fell on Friday due to concerns about the banking sector. - The U.S. Dollar Index was down 0.11% in early trading on Friday.
- The index is currently on pace for its second consecutive losing week.
- After three consecutive weeks of declines, the Yen is on track to gain against the U.S. Dollar this week.
- On Thursday, the British Pound reached its highest value relative to other major fiat currencies in over 11 months.
| UK(GBP) | £0.80 | -0.06% | | Europe (EURO) | €0.91 | 0.81% | | Canada (Canadian Dollar) | $1.35 | -1.10% | | Japan (Yen) | ¥134.79 | 0.18% | *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.
| |
 |  | 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. | |
| |
| |
