Even as the lift from optimism over prospects for U.S.-China trade detente shows signs of wearing off for the wider U.S. stock market, upbeat sentiment around China’s economy could bolster shares of materials companies.
U.S. auto sales are expected to drop about 3.5 percent in April from a year-ago period, as rising prices and reduced incentives pinch buyers at the lower end of the spectrum, according to industry consultants J.D. Power and LMC Automotive.
Chevron Corp’s first-quarter profit fell 27 percent from a year earlier due to lower crude oil prices and weaker margins in its refining and chemicals businesses, but topped forecasts and signalled it is committed to buying smaller rival Anadarko Petroleum Corp.
Exxon Mobil Corp on Friday reported a 49 percent fall in first-quarter profit that missed forecasts due to lower oil and gas prices and weakness across its major businesses that outweighed modest production gains.
American Airlines Group Inc cut its 2019 profit forecast on Friday, blaming an estimated $350 million hit from the grounding of Boeing’s 737 MAX planes, but said it was confident that the jets would start flying again before mid-August.
Daimler’s first-quarter operating profit fell 16 percent on Friday as a 718 million euro ($800 million) one-off gain failed to offset raw material costs, technology investments and production delays at three Mercedes-Benz factories.
Slack Technologies, operator of the popular workplace instant-messaging app, reported an annual loss of $140.7 million, the company said on Friday ahead of its planned public market debut.
Shareholders approved Credit Suisse’s 2018 compensation report with an 82 percent majority on Friday, overriding frustrations expressed at its annual general meeting over jumps in executive pay during a year its share price plummeted.
Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.
U.S. President Donald Trump on Friday said trade talks with China are going very well, as the world’s two largest economies seek to end talks with a trade agreement to defuse tensions.
Chevron Corp said on Friday first-quarter profits slid 27 percent from a year earlier due to lower crude oil prices and weaker margins in its refining and chemicals businesses, but the No. 2 U.S. oil and natural gas producer still topped forecasts.
American Airlines Group Inc executives said on Friday that they are “confident” that Boeing Co’s 737 MAX aircraft will be ungrounded by Aug. 19.
Ford Motor Co said on Friday the U.S. Justice Department has opened a criminal investigation into the automaker’s emissions certification process in the United States, the latest company to come under scrutiny by U.S. officials.
Slack Technologies Inc, operator of the popular workplace instant-messaging app, reported a loss of $140.7 million in the fiscal year ended Jan. 31, 2019, the company said on Friday in a regulatory filing ahead of its planned public market debut.
U.S. economic growth accelerated in the first quarter, but the burst in growth was driven by a smaller trade deficit and the largest accumulation of unsold merchandise since 2015, temporary factors that are likely to reverse in the coming quarters.
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