.png)
Rise and shine everyone
The big news this morning are the earnings releases. The full calendar is below but here are some highlights:
McDonald's double beat. Beats by EPS $0.29, beats on US and Global revs comps +12.6%. Accelerating the Arches strategy is working
General Motors beats by $0.48, beats on revs; raises FY23 EPS and EBIT guidance
Raytheon double beat; reaffirms guidance
GE clear double beat; reaffirms guidance.
Pepsi double beat, and margins expanding.
Finally, UPS narrowly missed EPS and Revenues, lowered guidance
S&P futures down 0.5% in Tuesday morning trading after US equities put in a mixed performance in a fairly uneventful session to start the week that saw energy and defensives outperform and pockets of tech and select regional banks lag. Gold a touch higher. Bitcoin futures up 01.1%. WTI crude down 0.4% after gaining just over 1% on Monday.
Asia and Australia
Asian markets mostly lower overnight with Hong Kong underperforming once again, down over 1.5%, while Japan eked out a gain for a second straight session.
China's Politburo likely to shift focus from stimulus to reforms
South Korea economy grows in Q1, outlook dims amid weak exports
Europe, Middle East, Africa
European equity markets lower: banks, basic resources under pressure; food/beverage, travel/leisure, healthcare
UBS disappoints on earnings, but talks up inflows from recent turmoil
Analysts say German public sector pay rise deal may complicate ECB's inflation fight
ECB's Schnabel says 50 bp rate hike still on the table for May meeting
The Americas
Central banks cut dollar operations with Fed as market stress eases since March's banking meltdown
Biden and McCarthy locked in debt standoff ahead of key vote and fresh data that will give a new deadline for agreement
Apple wins long running court battle to block Epic Games from breaking down App store barriers
Microsoft bows to EU pressure and agrees to stop bundling Teams with Office
Calendars
(news taken from Reuters, FT, Bloomberg; Calendar from Trading Economics)
Comments