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Market Wrap: pre-opening session |
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U.S. market futures are little changed after U.S. stocks rallied yesterday on strong corporate earnings, lifting both the S&P 500 (up 73 points or 1.02% to 7,209) and the Nasdaq 100 (up 265 points or 0.98% to 27,452) to record-high closing levels.
The Dow Jones advanced 790 points (+1.62%) to 49,652.
The small-cap Russell 2000 jumped 60 points (+2.21%) to 2,799, also a record close.
For the whole of April, S&P 500 recorded a monthly gain of 10.42%, the biggest one since November 2020.
On the stat front in the U.S. the ISM manufacturing purchasing managers index is expected at 52.5 in April vs 52.7 in March.
European stock indices are mostly closed on May 1. Yet, U.K's stocks indexes are open; the FTSE 100 currently consolidates.
Asian indexes were also mostly closed. However, Australian and Japan stocks indexes were open and gained some ground. The Nikkei reported yesterday that Japanese authorities carried out a currency intervention on Thursday to prop up the yen.
WTI crude oil prices are flat after a wild session yesterday as geopolitical risks persist.
Gold and silver both lose some ground after posting a rebound yesterday.
Bitcoin rises, regaining the 77,000 dollars threshold.
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Apple (AAPL), a consumer electronics giant, gains some ground as quarterly financial figures slightly beat estimates. However, iPhone sales missed expectations.
Atlassian (TEAM), a software company, soars after lifting full-year sales guidance.
Chevron (CVX) and Exxon Mobil (XOM), energy giants, both gain some ground on better-than-expected quarterly earnings.
Estee Lauder (EL), a cosmetics company, surges as quarterly sales beat estimates.
Paramount Skydance (PSKY), a media and entertainment company, was double upgraded to "overweight" from "underweight" at Morgan Stanley.
Moderna (MRNA), a biotech, jumps as quarterly sales beat expectations.
Roku (ROKU), a video streaming platform, pops on better-than-expected quarterly financial figures. Current quarter guidance also topped estimates.
Reddit (RDDT), a social media, surges on strong daily active user figures.
Roblox (ROBLX), an online video game platform, tumbles after cutting full-year bookings guidance.
Sandisk (SNDK), a data storage solutions company, falls on profit taking despite posting quarterly financial figures above expectations. The stock is up more 360% year-to-date.
Twilio (TWLO), a cloud company, surges after reporting better-than-expected quarterly financial figures. Current quarter guidance also beat expectations.
Veeva Systems (VEEV), a provider of Industry cloud-based software solutions, jumps as the company will join the S&P 500 index on May 7.
Western Digital (WDC), a developer of data storage solutions, drops on profit taking despite unveiling quarterly financial figures that topped estimates. The stock has jumped 74% over the last three months.
GoDaddy (GDDY), a website builder, is well oriented on better-than-expected quarterly financial figures.
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Exxon Mobil Corporation (XOM)
Chevron Corporation (CVX)
Linde plc (LIN)
Aon plc (AON)
Colgate-Palmolive Company (CL)
NatWest Group plc (NWG)
Dominion Energy, Inc. (D)
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Earnings release:
TC Energy Corp (TRP)
Imperial Oil (IMO)
Magna International (MG)
HudBay Minerals (HBM)
On Thursday, the S&P/TSX Composite Index rose 1.94% to 33,964 and the S&P/TSX 60 Index gained 2.00% to 1,982.
Magna International (MG), an automotive supplier, reported quarterly adjusted EPS up 77% to 1.38 dollar, beating estimates. Sales rose 3% to 10.4 billion dollars. The company said it maintains a positive outlook for 2026.
Air Canada (AC), an airline, unveiled quarterly adjusted loss per share of 0.05 dollar vs an adjusted loss per share of 0.45 dollar a year earlier. Operating sales were up more than 11% to 5.8 billion dollars. Both figures were better-than-expected. The company suspended full-year guidance due to Middle East conflict.
Agnico Eagle Mines (AEM), a mining company, posted quarterly adjusted EPS up to 3.41 dollars, topping estimates, from 1.53 dollar a year earlier. The company confirmed 2026 guidance.
TC Energy (TRP), a leading North American energy infrastructure company, reported quarterly adjusted EPS up to 0.99 dollar, just above estimates, from 0.95 dollar a year earlier.
Hudbay Minerals (HBM), a mining company, unveiled quarterly adjusted EPS up to 0.40 dollar from 0.24 dollar a year earlier on sales up to 757.3 million dollars from 504.9 million dollars a year ago. Both figures beat expectations.
Eldorado Gold (ELD), a mining company, reported quarterly adjusted EPS up to 0.95 dollar, beating expectations, from 0.28 dollar a year ago.
AltaGas (ALA)'s, an energy infrastructure company, target price was raised to 55 dollars from 50 dollars at RBC.
Methanex (MX), a methanol supplier, was downgraded to "neutral" from "overweight" at JPMorgan.
Sun Life Financial (SLF)'s, a financial services company, target price was raised to 115 dollars from 103 dollars at Jefferies. Peer Great-West Lifeco (GWO)'s target price was raised to 83 dollars from 70 dollars still at Jefferies.
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