US Markets Stock market futures are down after negative earnings from Apple and Amazon following the closing bell on Thursday. - Amazon was down almost 10% overnight after it reported a $3.8B net loss largely due to a $7.6B loss from its stake in Rivian. Amazon also lowered its revenue guidance for Q2 2022.
- Despite beating earnings estimates, Apple was also down after CFO Luca Maestri warned that supply chain issues could continue to impact revenue in 2022.
- The current 10 Year U.S. Treasury yield is set at 2.869%.
| Dow Jones | 33,916.39 | 1.85% | | S&P 500 | 4,287.50 | 2.47% | | Nasdaq | 12,871.53 | 3.06% | | Russell 2000 | 1,917.94 | 1.80% | *Stock Market data as of the last closing bell. Data received directly from the references indexes through ICE Data Services. Do you not understand any of these figures? Check out our explainer.
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Canadian Markets Pierre Poilievre, who is expected to become the head of the Conservative Party of Canada, has promised to increase parliamentary oversight of the Bank of Canada and ban the development of a Central Bank Digital Currency (CBDC). - Poilievre claims the Bank of Canada has failed to protect the interest of Canadians by lowering their purchasing power and that a CBDC would turn the Bank of Canada into a retail bank, thus creating the potential for more inflation.
- Poilievre is a strong proponent of cryptocurrencies and claimed he wants to make Canada the "blockchain and crypto capital of the world." However, he believes this should be done by normalizing the use of private tokens and not through a CBDC.
- The Bank of Canada has come out against cryptocurrencies, saying that they are more volatile than gas and therefore a poor hedge against inflation.
*Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services
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European Markets European stocks are up on Friday as more companies report their earnings and investors continue monitoring the situation in Ukraine. - BASF, AstraZeneca, Reckitt, NatWest, and MTU were among the companies to report earnings this morning.
- New data shows that annualized inflation in the EU hit 7.5% in April, up slightly from 7.4% in March.
- Tech stocks are leading European markets, gaining 1.8%, with the Stoxx 600 up 0.8%.
| Euro STOXX 50 | 3,793.35 | 0.43% | | UK (FTSE 100) | 7,514.06 | 0.06% | | Germany (DAX) | 14,060.94 | 0.58% | | France (CAC 40) | 6,527.24 | 0.29% | *European stock prices are as of 7 am ET. Data received directly from the references indexes through ICE Data Services.
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Asian Markets Stock markets are up in Asia after technology stocks surged following a strong performance from the Nasdaq yesterday. - Alibaba is up 15.69%, Tencent gained 11.07%, and the Hang Seng Tech index is up 9.96%.
- Samsung is up 4.01% and SK Hynix is up 2.74% in South Kora while markets in Japan are closed for the day due to a holiday.
- Stocks are largely up in mainland China following state media reports of a meeting where government officials promised new policies to spur economic growth. The Shanghai Composite rose 2.41% and the Shenzhen Component gained 3.693%.
| S&P Asia 50 | 5,060.48 | 6.21% | | Japan (Nikkei 225) | 26,847.90 | 1.75% | | South Korea (KOSPI) | 2,695.05 | 1.03% | | China (Hang Seng) | 21,089.39 | 4.01% | | India (SENSEX) | 57,060.87 | -0.80% | *Asian stock prices are as of 7 am ET. Data received directly from the references indexes through ICE Data Services.
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Commodities Oil prices were stable as concerns around demand disruptions in China began to ease, and despite potential western sanctions that could further curtail Russia's energy exports. - Brent crude gained $0.15, reaching $107.74, while U.S. West Texas Intermediate crude fell $0.03 to $105.33.
- Diesel futures reached $5.14 per gallon, a record high in the U.S.
- According to Russian government data, the country's oil output could fall by as much as 17% this year due to sanctions.
| Oil (NYSEARCA:OIL) | 33.35 | 1.79% | | Gold (NYSEARCA:GLD) | 176.93 | 0.54% | | Silver (NYSEARCA:SLV) | 21.42 | -0.33% | | Corn (NYSEARCA:CORN) | 30.00 | -0.17% | | Lumber (NASDAQ:WOOD) | 90.30 | 1.14% | *Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities, click here.
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Currency Exchange Rates The U.S. Dollar was down slightly on Thursday, falling from its 20-year high, but is still on pace for its best month in over 10 years. - The Federal Reserve's aggressive approach to fighting inflation with higher interest rates combined with concerns about economic growth in China and Europe are the major factors contributing to the surge of the U.S. Dollar.
- The dollar is up 5.1% in April despite weaker than expected earnings and economic growth.
- The Japanese Yen is down 7% in April despite the Bank of Japan claiming it is prepared to buy huge amounts of bonds to stabilize the currency.
| UK(GBP) | £0.80 | -0.21% | | Europe (EURO) | €0.95 | -0.02% | | Canada (Canadian Dollar) | $1.27 | -0.59% | | Japan (Yen) | ¥129.88 | 1.14% | *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them, click here.
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Cryptocurrency Cryptocurrency markets are down slightly but have been relatively stable the past two weeks after some volatility in late March. - Bitcoin rose in early April until it reached the ~$40,000 range.
- Bitcoin's current price range of ~$40,000 is the midpoint of its three-month price range, meaning there has been a certain level of consistency in recent weeks.
- After the large spike that took the currency near $50,000 in late March Bitcoin is down 15% so far this month.
- Ethereum is down 13% this month, Solana is down 11%, and Doge is down 4%.
| Bitcoin | $38,729.80 | -1.33% | | Ethereum | $2,842.64 | -1.65% | | Litecoin | $99.82 | -0.81% | | Bitcoin Cash | $298.45 | -2.91% | *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them, click here.
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 |  | Liam Gill is a founder, lawyer and investor.
He previously founded Fumarii Technologies, which became a top 20 ranked cloud computing service (Yahoo Finance! 2019) valued at over $30M. He holds an LLB Laws (UK), MSc Management and Master of Laws and currently practices law at Zargar Lawyers + Business Strategists in Vancouver, Canada.
|   | | Editor | Eduardo Garcia is a writer and editor based in New York. He is writing an illustrated book about climate change that will be published by Ten Speed Press, an imprint of Penguin Random House. Bylines in The New York Times, The Guardian, Slate, Scientific American, and others. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
Go from ideas to code ridiculously fast with Crowdbotics. | |
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