Market Pulse - Usa
Electric carmaker Tesla reported a wider-than-expected first-quarter loss on Wednesday after a valuable tax credit for American's purchasing its vehicles was cut in half at the beginning of the year.
US stocks closed lower on Wednesday as the previous session's energy rally lost steam amid yet another deluge of corporate earnings.
Software giant Microsoft's quarterly revenue and earnings beat estimates on Wednesday, thanks to the continued adoption of its cloud computing service and its Office suite of products.
Facebook topped estimates on the Street for quarterly revenues on Wednesday, boosted by a solid performance from Instagram and rising advertising sales.
Around the world, financial markets are likely to remain fixated on the US earnings season, although central banks will not be far from investors' minds.
Caterpillar on Wednesday reported that its first quarter revenues increased as the construction machinery and equipment company achieved record first-quarter profit per share, though construction sales declined in its key Asia Pacific market.
US stocks edged lower at the bell as the previous session's energy rally lost steam amid yet another deluge of corporate earnings, with figures from the likes of Facebook and Microsoft set to come after the close.
US telco AT&T came in shy of analysts' quarterly estimates on Wednesday, as lower-than-expected sales at WarnerMedia and a shortfall in revenues at its wireless business weighed on profits.
The world's largest jetmaker reported a sharp decline in quarterly earnings as commercial airline deliveries slowed and suspended its guidance for 2019 on the back of the recent tragedies involving its best-selling 737 MAX.
Berkshire Hathaway has denied reports that it is plotting a takeover of troubled California utility PG&E, which would have marked its return to the M&A trail after a nearly four-year lull.
US stocks looked set for a mixed open on Wednesday ahead of yet another deluge of corporate earnings, including those from the likes of Facebook and Microsoft.
America's top trade negotiators will travel to Beijing next Tuesday with a view to having a draft deal in place by May.
US markets finished in the green on Tuesday, after a session in which investors were busy sifting through an avalanche of corporate earnings amid uncertainty around the potential fallout from stricter US sanctions on Iran.
Energy futures continued pushing higher on Tuesday on follow-through buying after the Trump administration decided the day before to cut Tehran's crude oil exports to zero by not extending waivers from its sanctions against countries purchasing oil from Iran.
Trump is set to make a state visit to the UK in early June that will be hosted by Queen Elizabeth II despite the risks of public protests kicking off again as they did during his last visit.
US stocks opened higher on Tuesday with an avalanche of corporate earnings and uncertainty around the potential fallout from stricter US sanctions on Iran in focus.
US financial services firm State Street Corporation saw its profits slide during the first quarter, as fee revenues shrank.
Procter & Gamble has increased its full-year guidance after strong demand and higher prices helped the consumer goods giant deliver a strong third quarter.
Tesla has started incorporating its vehicles with a self-driving computer designed in-house in a move that will see it transition away from chips supplied by Nvidia.
First quarter revenues at soft drinks giant Coca-Cola came in ahead of estimates from analysts on the Street as sales of its water, sports drinks and its zero sugar beverages surged.