Here are the top news, trends, and analysis investors need to start their trading day:
1. Focus on stocks falling, big tech and big oil gains
Traders working on the New York Stock Exchange (NYSE) today, Wednesday, April 21, 2021.
US stock futures fell on Friday, despite the fact that Amazon stock was up around 2% in the pre-market a day after the e-commerce and cloud giant reported quarterly blowout results. An hour before the opening bell, the government announced that personal income rose 21% in March, boosted by the latest round of Covid stimulus checks. The income was largely in line with the estimates.
The S&P 500 rose 0.7% on Thursday to close on a record high. The Dow Jones Industrial Average saw similar gains but remained slightly below its record high earlier this month. The Nasdaq lagged behind with a plus of 0.2% and also just ended the record on Monday. With one day left in April, the Nasdaq and S&P 500 rose more than 6% for the month. The Dow’s monthly profit was just over half.
2. Amazon’s results dazzle when Twitter’s business falters
Jeff Bezos, CEO of Amazon
Alex Wong | Getty Images
Late Thursday, Amazon reported record earnings for the fourth straight quarter with earnings of $ 15.79 per share. Revenue of $ 108.52 billion for the first quarter also beat forecasts, with the company showing strength in all of its businesses. Amazon also said it doesn’t expect the Covid-triggered boom in online shopping to wear off once the pandemic recedes.
Jack Dorsey, CEO of Twitter, testifies during a video hearing held by subcommittees of the US House of Representatives’ Energy and Trade Committee on “The Role of Social Media in Promoting Extremism and Misinformation” on March 25, 2021 in Washington .
Twitter warned of rising costs and a possible slowdown in user growth late Thursday, sending stocks down nearly 14% in premarket trading. The social media network beat estimates, however, with adjusted earnings per share of 16 cents in the first quarter. Revenue of $ 1.04 billion and monetizable daily active users of 199 million was largely in line with analysts’ forecasts.
3. According to the EU, the Apple App Store violates competition rules
CEO Tim Cook speaks at an Apple event at corporate headquarters in Cupertino, California on September 10, 2019.
Stephen Lam | Reuters
Apple shares fell 1% in premarket trading after the European Commission announced on Friday that the US tech giant had “abused its dominant position in the distribution of streaming music apps through its app store.” The European Commission, the executive branch of the EU, launched an antitrust investigation into the App Store last year after the music streaming platform Spotify complained about Apple’s licensing agreements in 2019. In response, Apple said the EU’s case was “the opposite of fair competition”.
4. Chevron profit decline; Exxon swings to profit
A sign stands outside a Chevron gas station on July 31, 2020 in Novato, California.
Justin Sullivan | Getty Images
Dow’s Chevron fell about 2% in the pre-market on Friday, shortly after the U.S. oil major reported an adjusted earnings per share decline of over 30% to 90 cents in the first quarter. The decline was in line with estimates, but sales of $ 32.03 billion exceeded expectations. Chevron’s earnings declined due to production losses in the winter storm, weaker margins, and a lack of assets and tax items that benefited last year’s profit.
A pigeon flies over an Exxon Mobil gas station in Gutenberg, New Jersey on October 25, 2018.
Kena Betancur | Corbis News | Getty Images
Energy rival Exxon posted its first $ 2.7 billion profit in five quarters on Friday as higher oil and gas prices offset the cost of a February freeze. The adjusted earnings per share of 65 cents in the first quarter exceeded the estimates and the previous year’s period of 53 cents. Revenue of $ 59.15 billion also exceeded forecasts. Shares lost 1% in the pre-market.
5. Disneyland reopens after unprecedented 13 months of closure
Visitors walk between plexiglass as they step on Touch of Disney at Disney California Adventure in Anaheim, California on Thursday, March 18, 2021.
MediaNews Group / Orange County Register | Getty Images
Disneyland, California, will reopen on Friday after an unprecedented 13-month closure. The hope of tourism officials is a sign of the state’s recovery from the pandemic. Currently, the park only allows in-state visitors who have limited capacity. Comcast’s own Universal Studios Hollywood reopened two weeks ago. In Florida, a state with fewer virus restrictions, Universal Orlando and Disney World reopened with limited capacity in June and July.
– Disclosure: Comcast owns NBCUniversal, the parent company of CNBC. Reuters and The Associated Press contributed to this report. Follow all market actions like a pro CNBC Pro. Get the latest information on the pandemic CNBC’s coronavirus coverage.