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US tech stocks ready to advance to Amazon, Microsoft profits – Exxon



U.S. The stocks looked Friday's mixed Friday after rising to a wave of strong corporate earnings in the last session, but on the way to ending the week on a downward trend.

But technology stocks showed signs of strength after Amazon.com Inc., Microsoft Corp. and Intel Corp. All the positive results reported that increased stocks on Thursday after close. The earnings season continues on Friday, with Exxon Mobil Corp among the highlights.

The focus is also on the assessment of economic growth in the US in the first quarter. It is expected that there will be a slowdown, with the outbreak of corporate investment being an indicator to watch.

What are the markets doing?

Dow Jones Industrial Average Futures

YMM8, -0.38%

fell by 66 points, or 0.3% to 24,249, while S & P 500 index futures

ESM8, -0.15%

slipped 4.10 points or 0.2% to 2,670.50. Tech heavy Nasdaq 100 futures

NQM8, + 0.21%

rose 14 points or 0.2% to 6,748.75

Stocks closed on Thursday, inspired by the positive results of Facebook Inc.

FB, steeply up, + 9.06%

and others. The Dow Jones industry average

DJIA, + 0.99%

closed 238.51 points, or 1%, at 24,322.34, while the S & P 500

SPX, + 1.04%

increased 1% to 2,666.94 and the Nasdaq Composite Index

COMP + 1.64%

increased 1.6% to 7 118.68. Solid gains on Thursday pushed all three April benchmarks back into positive territory.

For the week, the Dow lost 0.6%, the S & P 500 lost 0.1% and the Nasdaq lost 0.4% on the Thursday. That would be the first drop in three weeks for all of these strengths.

What drives the market?

Recent earnings from the big tech companies should attract attention, according to Amazon profits and the like, and the survey of Facebook Inc.

FB, + 9.06%

on Thursday. So far this season, some 80% of S & P 500 companies have outperformed, but better-than-expected results have often not caught company stock prices.

After a historic meeting between North, geopolitics may be in the spotlight Korean President Kim Jong Un and South Korean President Moon Jae-in. The two leaders signed a statement that they will work towards a "complete denuclearization" of the Korean peninsula and agreed to formally conclude the Korean War with a peace treaty, according to media reports.

The outcome of this gathering could lay the foundations for Kim's planned meeting with US President Donald Trump.

In other countries, investors might look at the US-China trade talks in Beijing next week. Chinese tech stocks came under pressure as more measures could be taken after the US action against telecommunications supplier ZTE against the sector

000063, + 0.35%

and fears of similar actions against Peer Huawei

002502, + 0.28%

.

Concerns about rising US interest rates should continue to weaken, as is the case with 10-year Treasury bills

TMUBMUSD10Y, -0.34%

continued to retreat from the psychologically important 3% level.

Which stocks are in focus?

A smaller batch of revenue is due on Friday before opening, with Colgate-Palmolive Co.

CL, + 0.27%

Phillips 66

PSX , + 2.49%

Exxon Mobil Corp.

XOM, + 1.71%

and Chevron Corp.

CVX, + 1.22%

among the expected persons.

Amazon

AMZN, + 3.96%

climbed 7.4% in pre-market trading, reaching a level that set the record intraday high of e-commerce group would be exceeded if it were reached during regular trading hours. The late-Thursday ecommerce giant posted a profit that more than doubled and continued to grow as it announced a 20% increase in prime subscription prices.

Read: The engine for Amazon earnings growth has nothing to do with e-commerce

Opinion: Ranking Amazon, Alphabet, Apple and Microsoft in the race for $ 1 trillion in Market value

Intel

INTC, + 3.25%

Equities rebounded 6% before the bell, after the chip maker's quarterly results and outlook surpassed Wall Street forecasts surpassed published on late Thursday.

And Microsoft

MSFT, + 2.11%

rose 3.4% pre-trade, after posting better-than-expected earnings and strong forecasts.

Starbucks Corp.

SBUX, + 2.89%

slipped 1.2% after the coffee giant reported mixed results for the second quarter of the fiscal year late Thursday.

What's on the economic calendar?

A first quarter gross domestic product estimate is expected at 8:30 am Eastern Time, along with the publication of the employment cost index. MarketWatch surveyed economists expect economic growth of 2% from 2.9% in the fourth quarter.

Read: GDP déjà vu – weak first quarter likely again

Following on this data is the consumer sentiment index for April at 10 o'clock East, with a value of 98 expected.

What are other markets doing?

The Asian markets had a mixed session with Chinese stocks

SHCOMP, + 0.23%

weaker on concerns over possible US action against technology companies. European stocks

SXXP, + 0.02%

opened modestly higher, but British stocks rallied after plummeting following gloomy UK GDP data.

U.S. oil prices

CLM8, -0.10%

were modestly lower, while gold prices

GCM8, + 0.21%

were little changed. The ICE US Dollar Index

DXY + 0.26%

jumped 0.3% to 91.865.


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