All eyes on NFP
After a solid March report, April non-farm payroll figures should again point to the labour market remaining tight, with a strong pace of job growth, coupled with cooling earnings pressures and historically low unemployment.
April non-farm payroll figures
After a solid report in March, April non-farm payroll figures should again point to the labour market remaining tight, with a strong pace of job growth set to be coupled with cooling earnings pressures and historically low unemployment. Economists anticipate 243,000 job creations, below the 303,000 pace in March. Unemployment rate should remain at 3.8%. The US dollar is likely to react to the NFP publication. Ahead of US report, the dollar was heading for its worst weekly performance in nearly two months
French banks
France's second-biggest listed bank Credit Agricole posted a 55% jump in first-quarter net profit to €1.9 billion. Sales climbed 11% to €6.81 billion. The cost of risk, or money put aside for bad loans, was €400 million. France's third largest bank Societe Generale posted a better than anticipated 22% decline of its net profit to €680 million. Its investment banking division saw its earnings jump 26.4% to €690 million.
Apple
Apple shares gained 8.3% in extended trading following its fiscal Q2 report, lifting its stock market value by over $160 billion. Investors were particularly pleased by Apple's decision to increase its cash dividend by 4% and its announcement of an additional share buyback programme of $110 billion, the largest in the company's history.
The market was also pleasantly surprised by the tech giant quarterly report. Apple's quarterly earnings per share were $1.53, above Wall Street estimates of $1.50. Revenue fell 4% to $90.8 billion, beating the average analyst estimate of $90.01 billion. iPhone sales fell 10.5% to $45.96 billion. Apple's revenue decline in China was not as steep as analysts expected. Sales fell 8.1% to $16.37 billion, above analyst expectations of $15.59 billion.
Coinbase
Coinbase reported a net income of $1.2 billion, or $4.84 per share, compared with a loss of $79 million or $0.34 per share a year ago. Despite a solid report, Coinbase shares lost ground in after-hours trading, after ending the trading session up nearly 9%. Shares ended the IG all session up 6.5%.
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