5 things to know before the stock market opens on Friday 2022-04-29 07:25:44

[ad_1]

Here are the top news, trends and analysis that investors need to start their trading day:

1. Technology pressures on Wall Street Premarket. Data show that inflation remains high

Traders on the floor of the New York Stock Exchange, April 28, 2022.

Source: NYSE

2. Amazon drops to ugly prospects and slowest growth since the dot-com crash

Andy Gacy, CEO of Amazon and then CEO of Amazon Web Services, speaks at the WSJD Live conference in Laguna Beach, Calif., October 25, 2016.

Mike Blake | Reuters

Amazon is down more than 10% in the market, after announcing late Thursday The first quarter is weaker than expected Earnings and forward minimum guidance. Revenue in the first quarter increased 7% year-over-year to $116.4 billion, essentially matching expectations. This was the slowest increase in sales for any quarter since the Internet crash in 2001 and the second consecutive quarter of single-digit percentage growth. The Amazon Web Services cloud unit has been strong again. But it is not strong enough to withstand the e-commerce side of the business, which has seen $6 billion in added costs Because of high inflation, low worker productivity and increased ability to perform.

3. Apple’s price drops after warning of a massive hit due to supply restrictions

Tim Cook, CEO of Apple Inc. , during the virtual Peek Performance event in New York, US, on Tuesday, March 8, 2022.

Gaby Jones | Bloomberg | Getty Images

Apple fell 1% in the Friday market, the morning after it warned of supply restrictions related to Covid It can hurt sales $4 billion to $8 billion in the third quarter of the fiscal year. The guidance was overshadowed by the strong financial results for the second quarter, including earnings, revenue and gross margin. While analysts were looking for more from the services segment, it posted record revenue. Product sales hit a record high in the first quarter of March. Investors also got a 5% dividend increase and a $90 billion buy-back authorization. At the end of the quarter, Apple had a net cash position of $73 billion.

4. Musk sells nearly $4 billion in Tesla stock as he moves to buy Twitter

Elon Musk Sold nearly 4 billion dollars of Tesla In the days following his $44 billion bid Twitter Spread, According to the deposits With the Securities and Exchange Commission. The filings showed that the bulk of the CEO’s sales took place on Tuesday. Tesla shares fell 12 percent that day, but rose less than 1 percentage point on Wednesday.

When the filings became public Thursday night, Musk wrote on Twitter, “No more TSLA sales planned after today.” Tesla stock rose 2% in the primary market on Friday. Twitter stock jumped nearly 1% to more than $49 per share, down from $54.20 per share cash offer from Musk.

5. Chevron and Exxon decline despite strong earnings from energy price hikes

Gas prices are displayed at the Chevron station on June 14, 2021 in Los Angeles, California.

Mario Tama | Getty Images

shares chevron She became positive on Friday, after the oil giant reported that Win more than four times During the first quarter due to the increase in oil and gasoline prices. Chevron’s revenue rose nearly 70% to $54.37 billion. West Texas Intermediate Crude Futures rose to $130.50 in early March, a price last seen in 2008 Russia’s invasion of Ukraine raised concerns about the show. Prices have since calmed, but are still above $100, boosting the energy companies’ operations.

Gas prices are displayed on a gas pump at the Exxon station in Washington on Tuesday, March 8, 2022.

Bill Clark | Cq-roll Call, Inc. | Getty Images

shares ExxonMobil Becoming positive in following the premarket Company announcement on Friday It took $3.4 billion after tax in the first quarter in connection with the operation “Sakhalin-1” in Russia. Profit doubled to $5.5 billion in the quarter. However, earnings fell from $8.87 billion in the fourth quarter. Revenue rose more than 50% to $90.5 billion, although that fell short of expectations.

– CNBC channel Tanaya MachelAnd Jeff CoxAnd Annie PalmerAnd Jeff MarksAnd How to not swingAnd fake whatAnd Laura KolodnyAnd Kristen Wang And Peppa Stevens Contribute to this report.

Nicknamed “Woodstock for the Capitalists” Berkshire Hathaway The annual meeting is on Saturday, and it will be Live broadcast on CNBC.com. Chaired by the Chairman and CEO Warren Buffett And Vice Chairman of the Board of Directors Charlie MungerThe event, held in Omaha, Nebraska, gives shareholders an opportunity to listen to and ask questions from legendary investors.

open an account now For the CNBC Investing Club to follow Jim Cramer’s every arrow move. Follow the actions of the wider market like a pro CNBC PRO.

[ad_2]