The Bureau of Labor Statistics has published the Non-farm Employment Change, Average Hourly Earnings and the Unemployment Rate. The data has been abysmal. US Dollar index has reacted to the news with an initial drop downwards below 105.00.
Due to increased demand for electronics, 3M has managed to beat the quarterly earnings estimates. The news caused a 5.00% surge of the firm's stock price.
Defence Company Leidos Holdings is increasing its 2024 revenue expectations, as it is experienced high demand for weaponry.
This week, Meta announced that its risk mitigation process is sufficient and the firm will not have an issue with a recent investigation that was started by the European Commission.
Bottler of Coca-Cola HBC has beaten its revenue estimates due to high demand of the products.
The fashion group Hermes has revealed that it would defend itself against a lawsuit that has been filed by Birkin.
Satellite firm SES has announced that it would buy Intelsat for a total of $3.1 billion. The firm intends to use debt to make the acquisition, which caused a drop of SES stock price.
The Japanese monetary policy maker Bank of Japan has revealed that increasing prices and wages are set to increase household income and cause more inflation that would allow the country to reach the 2.00% inflation target.
German car maker Mercedes-Benz has revealed that despite a profit drop in the first quarter of 2024, the firm would not reduce prices.
United States are set to reclassify cannabis as less dangerous drug, which would reduce penalties associated with growing, use and distribution. The news caused a major surge of weed stocks.
The GDP of Germany has avoided a recession due to an increase of economic in activity in the construction and export sectors.
The Information has reported that the CEO of Tesla has been laying off senior executives in a new round of cost cutting.
The aircraft engine maker MTU Aero Engines has reported that it has increased profits due to new orders for Eurofighter engines.
It has been revealed by Reuters that the strike that has shut down three Stellantis factories is set to end and production would restart in early May.
The airline Air France- KLM has reported higher than expected quarterly losses, as the firm has faced higher costs.
US monetary policy makers, who decide upon the supply of the US Dollar, have just announced the Federal Funds Rate. The rate is used as a base rate for all USD denominated debt. The Fed has kept the interest rate unchanged at 5.50%, as the financial markets expected.
The electric vehicle maker Stellantis has missed its quarterly revenue expectations by revealing a 12% drop in the earnings.
The International Monetary Fund is set to disburse $1.1 billion in an effort to help the Pakistani economy.
Last night, Amazon reported its quarterly revenues. Despite making more income than expected, the firm's stock is plummeting. In general, the trend that was observed in other companies has also impacted Amazon. Current quarter has been good, but the future looks bleak.
Data for April has revealed that Chinese services and factory activity has slowed down their growth. The economy has continued to grow, but at a slower pace than previously.
The US restaurant chain McDonalds has revealed that due to the Middle East boycotts it has missed its quarterly revenue forecasts.
Latest data from the Confidence Board has revealed that Consumer Confidence in the United States has decreased to 97.0. Moreover, the prior reading has been downwards revised to 103.1.
The US machinery production firm Caterpillar has revealed that it expects sales to decline in the next fiscal quarter due to weakening demand.
The banking group Barclays has reported a 12% decline in quarterly profits. However, the stock of the bank has surged, as markets expected a broader income decline.