Twitter, Amazon, Exxon Mobil: What to Watch When the Stock Market | Sidnaz Blog

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Here’s what we’re watching before Friday’s trading gets underway.

  • U.S. stock futures edged lower as investors assessed fresh waves of Covid-19 infections globally that could hamper global supply chains and drive up inflation.
  • Futures tied to the S&P 500 ticked down 0.5%, a day after it closed at a record. Nasdaq-100 futures declined 0.7%, suggesting that technology shares may be among the weakest performers after the opening bell. Read our full market wrap here.
What’s Coming Up
  • Earnings are due from

    Exxon Mobil,


    XOM 1.43%

    AbbVie


    ABBV -0.93%

    and

    Johnson Controls.


    JCI 0.29%

  • U.S. personal income for March, due at 8:30 a.m. ET, is expected to climb 20% from the prior month and consumer spending is forecast to rise 4% from a month earlier.
  • The personal consumption expenditures price index excluding food and energy for March, due at 8:30 a.m., is expected to rise 0.3% from a month earlier and 1.8% from a year earlier.
  • The University of Michigan’s consumer sentiment index for April, due at 10 a.m., is expected to rise to 87.3 from a preliminary reading of 86.5.
Market Movers to Watch
  • Amazon


    AMZN 0.37%

    reported record first-quarter results as demand remained strong for its e-commerce services and revenue continued to grow in its cloud-computing and advertising units. Shares ticked up 2.2% premarket.

  • Shares in

    Twitter


    TWTR -0.93%

    fell 12% in off-hours trading as the social media company warned that user growth could cool in the coming quarters.

Twitter headquarters in San Francisco on July 16, 2020.



Photo:

David Paul Morris/Bloomberg News

  • Gilead Sciences


    GILD -0.93%

    shares slipped 2.5% premarket after it reported a mixed quarter late Thursday, with sales below Wall Street expectations.

  • Western Digital


    WDC 0.75%

    ‘s shares jumped 5% premarket after the data-storage products company’s quarterly results and outlook topped Wall Street estimates.

  • Shares of

    U.S. Steel


    X -3.31%

    edged down 0.8% premarket after the steel producer reported sales slightly below expectations

  • First Solar


    FSLR -1.59%

    ticked up 0.5% premarket after the provider of solar modules said profit more than doubled in the first quarter as project-based sales jumped.

Market Facts
  • Amazon’s stock price has risen less than 7% this year—lagging behind the Nasdaq, the S&P 500 and most major tech names.
  • Government bond yields climbed world-wide after signs of accelerating U.S. economic growth prompted worries that inflation will rise more rapidly than expected. The yield on the 10-year German bund on Thursday rose to minus 0.178%, the highest since March 2020.
  • On this day in 1999, Priceline.com, which had gone public at $16 a share exactly one month earlier, closed the day at $162.375—giving the tiny Internet company a one-month return of 914.84% and a total market value of $23 billion. But it was all downhill from there, as Priceline.com ended up trading for less than $6 per share by October 2000.
Chart of the Day
  • BlackRock has signaled it is increasing its support for shareholder-led environmental, social and governance proposals.
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