Every morning we put out a news report with the latest news in global stock markets, company news, and global economic news
These Are John Buckingham’s Stock Picks For 2021
The economy remains in distress, although there are signs of recovery underway. John Buckingham of Kovitz, editor of The Prudent Speculator newsletter, has found that value stocks typically outperform coming out of economic downturns. Thus, he argues that this is an excellent time to be a value investor. Q4 2020 hedge fund letters, conferences and Read More
- US: Dow Futures: 13090.00 (-0.40%), S&P 500 Futures: 1385.50 (-0.03%), NASDAQ Futures: 2691.25 (-0.03%)
- Europe: CAC: 3216.37 (-0.22%), DAX: 6661.02 (-0.50%), FTSE: 5726.66 (-0.72%).
- Asia-Pacific: Australia: 4396.00 (-0.75%), China: 2452.01 (0.49%), Hong Kong: 21086.00 (-0.78%), India: 5086.85 (-1.96%), Japan: 9380.25 (0.00%).
- Metals: Gold: 1632.10 (-0.16%), Silver: 29.88 (-0.42%), Copper: 3.74 (0.13%)
- Energy: Crude Oil: 100.88 (-1.62%), Natural Gas: 2.36 (0.98%)
- Commodities: Corn: 6.16 (0.41%), Soya Bean: 13.66 (0.28%), Wheat: 6.20 (0.53%)
- Currency: EUR/USD: 1.3149 (-0.03%), GBP/USD: 1.6188 (0.07%), USD/JPY: 80.0700 (-0.14%)
- 10 year US Treasury: 1.921% (-0.016)
Financial and Economic News Update
U.S. stock-index futures trading lower: U.S. stock index futures are pointing to a lower open on Friday following a weaker than expected government jobs report. Payrolls rose 115,000 in April, below the 170,000 that economists were expecting. The jobless rate however declined in April. The Dow Jones industrial average, the S&P 500 and the NASDAQ futures were all fluctuating in trade this morning…
European markets in the red: European markets are trading lower as weaker than expected euro zone economic data revived investor concerns. The German DAX (INDEXDB:DAX) was 0.5 percent lower at 6661.02, the FTSE 100 (INDEXFTSE:UKX) was down 0.7 percent at 5726.66, and the CAC 40 (INDEXEURO:PX1) was down 0.22 percent at 3216.37. The euro zone blue-chip ESTX 50 PR.EUR (INDEXSTOXX:SX5E) (Euro Stoxx 50) was trading 0.3 percent lower.
Asian markets end lower: Asian markets closed lower on Friday, with investors remaining cautious ahead of the closely watched U.S. nonfarm payrolls report. The HANG SENG INDEX (INDEXHANGSENG:HSI) ended down 0.8 percent at 21,086, while the SSE Composite Index (SHA:000001) (Shanghai Composite Index), gained 0.5 percent to finish at 2,452 points. The NIKKEI 225 (INDEXNIKKEI:NI225) was closed for trading, while the S&P/ASX 200 (INDEXASX:XJO) index fell 0.7 percent to 4,396.0. The benchmark Indian 30-share BSE SENSITIVE (INDEXBOM:SENSEX) index fell 1.89 percent to 16,827.50 points.
Company News Update
- American International Group, Inc. (NYSE:AIG) reported first quarter operating income of $3.1 billion, or $1.65 a share, that topped analysts’ estimates.
- Social media company LinkedIn Corporation (NASDAQ:LNKD) reported strong first quarter earnings and said revenue for the quarter more than doubled to $188.5 million
- First Solar, Inc. (NASDAQ:FSLR) reported a steep first quarter loss but raised its full-year profit outlook. The company also named James Hughes as chief executive officer.
- Facebook has set a price range of $28 to $35 a share for its initial public offering.
- Women’s clothing retailer Body Central Corp (NASDAQ:BODY) reported first quarter earnings per share of .36 cents, in-line with the analyst estimate, but cut its forecast for full-year earnings.
- Boston, Massachusetts-based technology consulting company Sapient Corporation (NASDAQ:SAPE) posted first-quarter adjusted earnings of 7 cents per share, which trailed street estimates.
- BNP Paribas SA (EPA:BNP), France’s largest bank, said first-quarter profit rose 9.6 percent, helped by the sale of a real estate business.
- Swiss Re Ltd., the world’s second- biggest reinsurer, posted better than expected first quarter net profit of $1.1 billion (836 million euros) on account of lesser claims for major natural disasters.
- Royal Bank of Scotland Group plc (LON:RBS) (NYSE:RBS) reported better than expected first quarter operating profits and said it will pay back the last of £163bn in bail-out loans from the U.K. government and resume paying dividends on preference shares.
- Lafarge S.A. (EPA:LG), the world’s largest cement maker, reported a 8 percent rise in first quarter operating profit to 516 million euros ($678.67 million), due to stronger demand for cement in emerging markets.
- Air France-KLM (EPA:AF) reported first quarter net loss of 368 million euros ($483 million) as higher fuel costs and a decline in freight volumes offset gains in passenger traffic.
- Hong Kong’s biggest developer, Sun Hung Kai Properties Limited (HKG:0016) said former Chairman Walter Kwok has been arrested by the city’s anti-corruption commission in connection with a bribery probe.
- Hutchison Whampoa Limited (HKG:0013) owned by billionaire Li Ka-shing, has made a 2 billion euros ($2.6 billion) bid for Irish phone company, Eircom Group, according to media reports.
- Embattled Australian carrier Qantas Airways Limited (ASX:QAN) said that it is delaying the delivery of two new Airbus A380s to help cut spending by 400 million Australian dollars ($410.7 million).
- SK Hynix Inc. has dropped its bid for Tokyo-based Elpida Memory Inc (TYO:6665).
- London-based jeweler Graff Diamonds Ltd. has received approval from Hong Kong’s stock exchange for its planned initial public offering, through which it hopes to raise as much as $1 billion.
Economic Calendar for Friday, May 04, 2012:
08:30 A.M. ET: Nonfarm Payrolls (April)
08:30 A.M. ET: Average Hourly Earnings (MoM) (April)
08:30 A.M. ET: Average Hourly Earnings (YoY) (April)
08:30 A.M. ET: Average Weekly Hours (April)
08:30 A.M. ET: Unemployment Rate (April)
03:00 P.M. ET: Treasury STRIPS