Oil prices are moving higher today
Fresh off the Dow's best month since 1987, Dow Jones Industrial Average (DJI) futures are set to kick off May with a sharp move lower. Tech giants Apple (AAPL) and Amazon.com (AMZN) are weighing on Wall Street, with the former's revenue growth stagnating and the latter missing on earnings estimates.Futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) are signaling steep losses as well. Elsewhere, June-dated crude futures are up 6.7% at $20.11 per barrel, at last check.
Continue reading for more on today's market, including:
Call options were popular yesterday despite McDonald's earnings miss.It seems Tesla stock can do no wrong. Plus, Moderna inks COVID-19 vaccine deal; Clorox scores earnings beat; and Boeing announces big bond offering.
May kicks off with Markit manufacturing PMI, ISM manufacturing index, construction spending, and motor vehicle sales. Chevron (CVX) and Exxon Mobil (XOM) will step into the earnings confessional.
Most markets in Asia were closed for holiday with the exception of the Nikkei in Japan, which lost 2.8%. Meanwhile, South Korean export numbers sharply contracted in April, marking their steepest plummet since the financial crisis.
Bourses in Europe were also closed, with the exception of the London FTSE 100 in the U.K. The index dropped 1.9%, as investors nervously eyed U.S. President Donald Trump's threats of retaliatory tariffs against China, brushing off promises from U.K. Prime Minister Boris Johnson to put a plan in place effectively ending nationwide lockdowns.