Archives of “April 29, 2022” day
rssEuropean shares ending with gains for the trading day.
The major European indices are closing higher on the day. A snapshot of the provisional closes are showing:
- German DAX, +0.7%
- France’s CAC, +0.25%
- UK’s FTSE 100, +0.4%
- Spain’s Ibex, +0.9%
- Italy’s FTSE MIB +0.75%
For the trading week, the major indices are down modestly lower with the exception of the UK FTSE 100 :
Apple (AAPL) beats on EPS and revenue, announces will add USD90bn to buyback
EPS $1.52
- expected. 1.43
Revenue $97.28bn
- expected 93.89bn
The existing share buyback program has been boosted by US$90bn
Tim Apple (OK, actually Tim Cook but I prefer Trump’s name for him):
Amazon earnings not good. Loss of -$7.56 vs gain of $8.36 expected
Amazon reported an unexpected loss of $-7.56 versus an expected gain of $8.36. The Rivianan impact seems to be more than expectations.
- Revenues though came in about as expected at 116.4 billion versus expectations of 116.3 billion
- Expectations for next quarter revenue of $116 billion to -$121 billion versus streets estimate of $125 million
- AWS grows at 37% year-over-year
- Subscription services revenue $8.4 billion versus $8.6 billion estimate
- AMZN stock is currently down around -7.7%
Optimism reigns today but don’t forget about the PCE inflation report today
The market is optimistic today on the combination of:
- Slower growth convincing some the Fed will go easy
- The Nasdaq at support and FB posting good earnings
- The classic BTFD mentality
- Stability in yields
- Perhaps some month-end flows
I don’t know if any of that is a foundation for a sustained rally but sustained rallies are built on optimism. What I do know is that tomorrow the March US PCE report is out that will offer another read on inflation. One reason that Q1 real GDP was low as that inflation was surprisingly high. Another high reading in tomorrow’s report will put the focus back on prices and the possibility of fast Fed hikes beyond neutral.