Market reports

  • Amazon Web Services continues massive growth, contributes bulk of the profit. Amazon.com Inc.' s massive growth just grew even more massive in the first quarter, as the e-commerce giant reported Thursday that profit more than doubled and sales continued to accelerate. Amazon (AMZN.NaE) reported net income of $1.6 billion, or $3.27 a share, up from $724 million, or $1.48 a share, a year ago.
  • It will take more than a snap election to fix Turkey's fundamental economic problems or provide more than a temporary lift to the long-suffering lira. Turkey's currency got a boost last week from President Recep Tayyip Erdogan's surprise decision to call an early election for June 24 that he's expected to win. The poll pre-empts a scheduled November 2019 election and victory would grant Erdogan another five years in office.
  • By Anora M. Gaudiano, MarketWatch, Ryan Vlastelica. Facebook shares jump after strong results. U.S. stocks closed sharply higher on Thursday, with major indexes up 1% as strong results from a number of bellwethers, including technology behemoth Facebook, jolted equities in to a broad advance.
  • The Dow Jones Industrial Average on Thursday was being propelled higher by a rally in shares of Visa Inc. (V.NaE), and Home Depot (HD.NaE), helping to more than offset declines in the benchmark's most influential component: Boeing Co. Most recently, the Dow was up 210 points, or 0.9%, at 24,294, with Visa's stock up 4.8%, or up $6.12, and those for Home Depot (HD.NaE) rallying 3.5%, or $5.50. The combined advance for the pair contributes about 80 points to the price-weighted gauge's intraday climb.
  • U.S. stocks added to gains Thursday afternoon, with a slight acceleration of the rally occurring just after the Senate confirmed Mike Pompeo as U.S. secretary of state, in a 57 to 42 vote. The Dow Jones Industrial Average was up nearly 280 points, or 1.2%, at 24,363, the S&P 500 index gained 1.1% at 2,669, while the Nasdaq Composite Index advanced 1.7% to 7,123. All three benchmarks had been enjoying an earlier rally on the back of upbeat corporate results, including those for Facebook...
  • The Dow Jones Industrial Average on Thursday booked its best one-day gain in about two weeks and the broader market all saw gains of at least 1% on the back of better-than-expected quarterly results and a retreat of government bond yields. The Dow closed up about 240 points, or 1%, at 24,322, marking its best daily rise since April 12, according to FactSet data. The blue-chip average's advance was largely aided by a rally in shares of Home Depot Inc. (HD.NaE), up 4.7%, and Visa Inc. (V.NaE), rising by 4.8%.
  • The popularity of passive products fueled the decline in fees. The "race to zero" is saving investors a ton of money. Fees for mutual funds and exchange-traded funds have been falling for years, but the decline accelerated in historic fashion in 2017, as investors ramped up their rotation into the kind of broad-market products that charge rock-bottom fees.
  • The Nasdaq, heavily weighted toward large-capitalization technology and internet stocks, is the best performer of the major indexes this year. Over the past several weeks, one of the biggest questions in the U.S. stock market was whether major internet and technology companies were at the end of a major multiyear rally, one that single-handedly lifted the broader market over the course of 2017.. While the stocks-- known by the acronym FAANG, which stands for the quintet of Facebook,...
  • Amazon.com Inc's (AMZN.NaE) march in retail and cloud computing showed no sign of slowing on Thursday, as the company reported a surge in first-quarter sales and profit, both ahead of expectations. Separately, the company and the U.S. National Football League announced a deal to stream Thursday night games during the 2018 and 2019 seasons on Amazon's Prime Video.
  • - Amazon.com Inc's (AMZN.NaE) march in retail and cloud computing showed no sign of slowing on Thursday, as the company reported a surge in first-quarter sales and profit, both ahead of expectations. Separately, the company and the U.S. National Football League announced a deal to stream Thursday night games during the 2018 and 2019 seasons on Amazon's Prime Video.
  • By Carla Mozee, MarketWatch, Anneken Tappe. The U.S. dollar rallied Thursday, posting gains versus major rivals, including the euro, which slumped after failing to hold initial gains scored following the European Central Bank's policy meeting. The ECB left interest rates unchanged and renewed its pledge to continue asset purchases through the end of September.
  • 10- year government bond yield slides back below 3%. Long-dated Treasury yields pulled back on Thursday, halting a six-session streak of gains and ending a protracted selloff in U.S. government paper that saw the benchmark 10- year Treasury break above a psychologically significant level at 3%. Market participants said some buying appetite for government bonds may have been sparked after rates touched multiyear peaks in the previous session, with few major catalysts on the...
  • - Southwest Airlines Co (LUV.NaE) on Thursday warned the consequences of a mid-air engine explosion last week will weigh on second-quarter bookings, as investigators continued to probe the events that led to the first passenger death in the airline's history.
  • By Myra P. Saefong and Barbara Kollmeyer, MarketWatch, Biman Mukherji. Natural-gas prices gain as U.S. supplies slip lower. Oil futures ended higher Thursday, as traders looked beyond a surprise increase in U.S. supplies, and instead focused on the possibility that the U.S. will reimpose sanctions on Iran.
  • Investors lucky enough to be sitting on a hoard of cash to invest now are facing a tough decision: Plunk down the entire sum or dollar-cost average, placing scheduled investments over a period? Research from Vanguard, analyzing data in the U.S., U.K. and Australia, indicates that in upward-trending markets, it is always best to invest in one fell swoop. The giant fund provider's researchers found that lump-sum investing beat dollar-cost averaging strategies--where investments...
  • Bond market vigilantes' slowly waking up': Slok. A ballooning budget deficit combined with a rising current-account deficit are raising the odds the U.S. could suffer an emerging-markets-style debt crisis, analysts at Deutsche Bank warned this week. To be sure, danger doesn't appear imminent and the odds may even be overstated, but the risk is rising and shouldn't be ignored, wrote Quinn Brody, macro strategist, and Torsten Slok, the bank's chief economist, in a Wednesday note.
  • As the government's lawsuit to block AT&T (T.NaE) from acquiring Time Warner (TWX.NaE) enters its final stages, Time Warner's (TWX.NaE) future hangs in the balance. Yet Time Warner (TWX.NaE) investors have reason to be optimistic even if the deal is blocked. On Thursday, the company reported first-quarter earnings per share of $2.28 on revenue of $8 billion, beating analysts' estimates of $1.74 a share on revenue of $7.94 billion.
  • Chipotle shares are up more than 20% in Thursday trading and the stock was upgraded. More than two years after illness outbreaks sunk Chipotle Mexican Grill Inc.' s customer traffic and share price, the company is showing signs of a turnaround owed to a new chief executive and price hikes, analysts say. Chipotle reported a 7.4% revenue increase to $1.15 billion, a 2.2% same-store sales increase and earnings of $2.13 per share, up more than 33% year-over-year.
  • By Myra P. Saefong, MarketWatch, Rachel Koning Beals. ECB stands pat; mostly stronger U.S. economic data hit. Gold prices on Thursday fell for a second straight session to hold ground at their lowest settlement in about five weeks, pressured by gains in the U.S. dollar and stock market.
  • By Shawn Langlois and Jessica Marmor Shaw, MarketWatch. Price changes, ballooning debt, cash vs. stocks-- and one that may just be an investor's' theory to everything'. That's basically the initial response we got when we asked an assortment of financial and economic types for what they consider to be "the chart of the century"-- in other words, the chart that's been hugely influential to their perspective, and positions.
  • Enthusiasm for bitcoin seems to be spiking once again. Time to rein it in? The price of bitcoin is in the midst of a spring rally, rising back above $9,000 on Wednesday for the first time in six weeks.
  • London-based Revolut raises a further $250 million, puts valuation at $1.7 billion. Digital currencies have taken a further pause Thursday, with most major assets trading in relatively tight ranges. The No. 1 digital currency, bitcoin slipped back below $9,000, trading to its lowest level of the week at $8,660.87.
  • Barclays swings to a loss. U.K. stocks climbed Thursday, rising alongside a leap in European stocks, with the moves coming a day after London- listed blue-chips broke their longest winning streak in nearly a year. But losses in shares of heavyweight Royal Dutch Shell PLC after the oil giant's quarterly earnings report did keep in check an even stronger gain for the market's benchmark.
  • Latvia's parliament voted on Thursday to scale back domestic banks' ties with risky shell firms under laws aimed at tackling money laundering, but pressure will remain on the Baltic state to do more.
  • Wall Street lobby groups urged U.S. policy makers and regulators to revamp rules to encourage more initial public offerings and to reduce the regulatory cost of staying public, in a white paper issued on Thursday.
  • Ford to focus on pickups and crossovers in the region. Ford Motor Co. (F.NaE) said Wednesday it will stop investing in sedans in North America, bowing to U.S. drivers' seemingly never-ending zest for crossovers and pickup trucks. Ford shifted focus on "building a winning portfolio" of vehicles, by which it meant no more of its slow-selling sedans at least for North America.
  • An afternoon rally on Thursday was driving stocks sharply higher, and pushing the three main benchmarks back into the black for the month. The Dow Jones Industrial Average was up nearly 300 points, or 1.2%, at 24,366, on the back of gains in Visa Inc. (V.NaE) and Home Depot Inc. (HD.NaE). The S&P 500 index climbed 1.1% to 2,668 as the technology sector was jolted higher on better-than-expected corporate results from Facebook Inc., while the technology-laden Nasdaq Composite Index rallied 1.6% at...
  • European stocks leapt Thursday, strengthened by a slide in the euro after European Central Bank President Mario Draghi offered little in the way of providing further insight into when the central bank will wind down bond purchases and begin to raise interest rates. Most major stock indexes has been modestly higher ahead of Draghi's press conference, in a packed session for corporate results, including from Deutsche Bank AG which posted a steep slide in profit.
  • The S&P 500 is in its longest correction since 2008. One of the most powerful trends supporting the U.S. equity market seems to have come to a quiet end. Buying the dip, or investors using share-price declines as an opportunity to add to their positions, has waned in popularity over the past several weeks.
  • WestJet Airlines new chief executive is facing his first major test as the Canadian carrier's pilots weigh strike action and larger rival Air Canada on Thursday offered to accommodate travelers if there is a disruption. WestJet shares fell more than 3 percent Thursday after the company's pilots initiated a strike authorization vote late on Wednesday.
  • As Europe nears tough new privacy rules, Facebook (FB.NaE) reckons the worst that could happen is that users will share less data, making it harder to target ads on the social network that raked in revenues of $12 billion in the first quarter.
  • Tesla Inc's Autopilot chief Jim Keller is leaving the electric vehicle manufacturer to join chipmaker Intel Corp. Keller, Tesla's vice president of Autopilot and low-voltage hardware, will be succeeded by Pete Bannon, a Tesla executive who previously oversaw chip development at Apple Inc (AAPL.NaE), a Tesla spokeswoman said via email on Thursday.
  • Options' straddle' is priced for a 6% post-earnings move in Amazon's (AMZN.NaE) stock. The Wall Street bookmakers' line on how much Amazon.com Inc.' s stock will move after earnings suggests a tamer-than- usual reaction, but that doesn't mean it will be a snoozer. That's because history shows that, of the biggest technology companies by market capitalization, Amazon (AMZN.NaE) has had the wildest one-day, post-earnings swings.
  • General Motors Co (GM.NaE) on Thursday reported better-than-expected first-quarter earnings despite a drop in production of high-margin pickup trucks as it gears up for new models, but investors disappointed by the automaker's lower pre-tax profit sent its shares down more than 2 percent.
  • Analysis: Focus on causes of' moderation' puts upcoming data in spotlight. Traders appeared to slumber through European Central Bank President Mario Draghi's Thursday news conference, but there was at least one wrinkle worth noting. As expected, many of the questions centered on the Governing Council's interpretation of soft first-quarter economic data out of the eurozone.
  • Investment banking yielded surprises at Deutsche Bank and Barclays in the first quarter of 2018: the former's revenue looked as horrible as the latter's did outstanding. However, neither of Thursday's results gave much clarity to investors. It isn't clear that Deutsche can stop losing market share, or that Barclays is really regaining much.
  • Cheap trans-Atlantic flights may become harder to come by, whether or not Norwegian Air Shuttle (NWARF.NaE) gets taken over. Norwegian shares took flight Thursday after the company said, alongside its first-quarter results, that it had "received several inquiries" following IAG's expression of interest. The parent company of British Airways announced earlier in April that it had bought a 4.6% stake in the trans-Atlantic disrupter, with a view to exploring an offer.
  • United Parcel Service Inc (UPS.NaE) reported higher first-quarter net profit on Thursday, driven by strong package volumes in its core U.S. segment, but higher costs from Saturday delivery and nasty winter weather weighed on the bottom line.
  • ConocoPhillips (COP.NaE) , the world's largest independent oil and natural gas exploration and production company, posted a bigger-than-expected quarterly profit on Thursday, helped by rising crude prices and cost cuts. Results at Conoco, like many of its peers, have steadily improved in recent quarters alongside commodity prices and as better technology makes operations more efficient.
  • Critical information for the U.S. trading day. Expect some big-name tech stocks to re-hog the limelight today. Like Facebook, which is on a tear in premarket after dazzling investors with bulletproof earnings, such as a 49% revenue pop.
  • - Shares of Facebook Inc (FB.NaE) rose as much as 8.5 percent on Thursday morning after another blockbuster set of quarterly results calmed stock investors' nerves about the fallout of the Cambridge Analytica privacy scandal.
  • Sometimes being on the cutting edge can be an uncomfortable place to sit. Oil giant Royal Dutch Shell (RDS/A.NaE), which is leading the charge into cleaner-burning natural gas among Western majors, discovered that again last quarter. Shell turned in a strong first-quarter 2018, thanks to higher oil prices and fat volume increases in natural gas.
  • * Core capital good orders fall 0.1 percent in March. * Core capital goods shipments drop 0.7 percent. * Goods trade deficit declines 10.3 percent in March. * Weekly jobless claims fall to lowest level since 1969. By Lucia Mutikani.
  • Facebook (FB.NaE) is a hard friend to dump, even when it has it coming. The social network's first-quarter report Wednesday afternoon showed that about 48 million daily active users signed up during the period. That was up 3.4% from the December quarter and was in line with Wall Street's expectations.
  • Deutsche Bank fired 300 U.S.-based investment bankers on Wednesday as part of a broader overhaul of the global unit, a person with knowledge of the matter said on Thursday. The bank will lay off another 100 U.S. bankers by the end of the week, said the person, who was speaking on condition of anonymity. The Financial Times was the first to report the development.
  • New orders for key U.S.-made capital goods fell in March, weighed down by the biggest decline in demand for machinery in nearly two years, and a drop in shipments cemented expectations that business spending on equipment slowed in the first quarter. But other data on Thursday showed the economy remains on a strong footing.
  • Time Warner Inc (TWX.NaE), which is being bought by AT&T Inc (T.NaE), reported a better-than-expected quarterly revenue on Thursday as the airing of the college basketball games helped Turner attract advertisers.
  • A gauge of global equities advanced on Thursday, buoyed by a round of solid quarterly earnings in Europe and the United States, while the euro weakened after the head of the European Central Bank hailed "solid" economic growth but kept interest rates unchanged.
  • The Samsung Electronics (SSNLF.NaE) winning streak may not last forever--but its low valuation and more generous dividend ought to support the stock. The Korean technology giant, the world's largest chipmaker, reported a record operating profit for the fourth quarter in a row for the three months ended March. Memory chips were again the driver.
  • Palma de Mallorca, capital of Mediterranean tourist destination the Balearic Islands, voted on Thursday to ban almost all short-term rentals of private homes like those on Airbnb, which locals say have triggered sharp rises in rental prices.
  • - Time Warner Inc (TWX.NaE) , which is being bought by AT&T Inc (T.NaE) , reported a 15.4 percent rise in quarterly profit on Thursday as its Home Box Office and Turner channels added subscribers at a brisk pace.