Stock futures rose modestly on Friday morning
S&P 500 futures advanced 0.39%, while Nasdaq 100 futures advanced 0.38%.
After the close, investors, including Apple, took in the new figure for corporate earnings. Apple shares rose more than 2% in extended trading.
The S&P 500 lost 0.73%, while the Nasdaq Composite slipped 0.49%. The Dow lost 286.52 points or 0.87%.
The averages also tracked losses for the worst week for all three since March 10. The S&P 500 is 2.62%, and the Nasdaq is 2.13%. The Dow was down 2.8%.
Investors are worried about the Federal Reserve’s move after policymakers raised rates by 25 basis points on Wednesday.
Adidas shares rose 6% in early European trade after the German sportswear giant beat expectations for first-quarter profit despite a 400 million euro hit to sales from the termination of the Yeezy partnership.
Despite this, the forward guidance is negative for high single-digit gains, which may be negative for some. This is a marathon for Adidas. The company has several issues to address, such as rebuilding relationships with suppliers, China’s growth plan, and the need to get inventory to more stable levels, which will affect margins, particularly in North America.
HSBC shareholders will vote on proposals at the bank’s annual meeting on Friday, including suspending its Asia business.
In the Philippines, core inflation eased for the third month to 6.62% year-on-year from 7.62% in March.
It was also below economists’ expectations for a 7% increase.
The nation’s statistical agency reported that the descending tendency was largely caused by the decrease in inflation of food and non-alcoholic beverages, which was 7.92% in April, as opposed to 9.32% in the previous month.
Transport is on second place in the downward trend. The inflation rate in April was 2.6%, compared to 5.4% in March.
Australia’s central bank continues to see a need to tighten monetary policy to curb inflation, the Reserve Bank of Australia said.
The central bank noted that this decision will depend on how the economy and inflation develop.
The RBA cut its near-term inflation and GDP forecasts, saying inflation is not yet expected to return to the upper end of its 2-3% target range until mid-2025.
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