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MORNING quote AMERICAS-Amazon relaxes the horses, payrolls due

A look at the day ahead in U.S. and global markets from Mike Dolan With next week's U.S. election now controling thinking, the last 2 megacap revenues reports of the week appear to have relaxed the stock exchange rather and a possibly loud October payrolls report is up next.

Amazon and Apple got various market receptions to their updates over night - the remaining 2 of five Splendid Seven firms reporting today.

Amazon stock jumped 6% on forecast-beating profit and sales, with the company suggesting healthy lead to the vacation quarter thanks to its faster shipping times and a move to stock lower-cost items.

It was a relief to markets that saw fresh doubts today about the speed with which the substantial spend on artificial intelligence was translating into returns for Huge Tech giants.

Apple underwhelmed with its beat and the stock is off about 1% before Friday's bell. Its AI-enhanced iPhone made a strong start, pressing quarterly sales ahead of expectations. However a. modest profits projection raised questions about the vacation. season and a decline in China sales bothered some analysts.

Ailing chipmaker Intel livened up, nevertheless, with a. 7% rally overnight on optimism about a turn-around in its PC and. server companies.

The market-wide upshot today is that index futures. look set to gain back a few of Thursday's heavy losses.

And more than 60% through the current earnings season, the. combined annual revenue growth quote for the S&P 500 has. actually picked up rate to as much as 7.5% - well up on. pre-season projections of just over 5%.

With sovereign bonds markets focusing more attention. upset by post-budget British gilts, U.S. Treasuries stayed relatively calm as the October work. report is due later Friday, the dead heat election race. enters its last weekend, and a second Federal Reserve interest. rate cut of the year is expected next week.

Although a month of storms may misshape the numbers, a. Reuters survey showed nonfarm payrolls probably increased by. 113,000 tasks last month after increasing by 254,000 in September and. jobless rate is forecast to stay the same at 4.1%.

Today's private sector payrolls upgrade for October and. weekly jobless data can be found in hotter than numerous had bet on, but. inflation readings were calm sufficient to keep futures confident. the Fed will provide a quarter-point post-election rate cut next. Thursday.

The individual usage expenditures (PCE) rate index rose. 0.2% in September, driven primarily by services but with products. costs really falling outright for a second successive month.

A yearly 2.1% gain in the headline PCE price index was the. smallest since February 2021 and near to the Fed's target.

ISM and S&P International release October U.S. manufacturing. surveys later Friday too.

In Europe, British gilts and the pound cooled down somewhat. on Friday after a torrid week that saw 10-year yields strike their. greatest in a year following heavy tax and borrowing plans in the. new Labour government's very first budget plan.

Fretting on Thursday was a slide in the pound. even as yield premiums on gilts over other major. federal government bonds increased and cash markets got rid of at least. one Bank of England rate cut from next year's horizon.

Markets still see an 80% chance the BoE will deliver its. second rate cut of the year next Thursday although its 5% policy. rate is now expected to remain above 4% through 2025 - nearly. half a point higher than the expected Fed rate at the end of. next year.

Helping calm the piece on Friday, credit scores firm S&P. said Britain's public finances were constrained after the. budget however added it had actually not modified its projections for loaning.

We have not changed our headline deficit spending projections. as a result of the budget statement, partly due to the fact that our. existing projections currently include wider deficits that show. lingering public spending pressures, it included.

Somewhere else, oil prices edged greater and world stocks. were combined - with European indexes advancing but Japan's Nikkei. underperforming with losses of more than 2% on a. somewhat stronger yen and the previous day's Wall Street slide.

Big U.S. oil firms top the earnings journal later on.

Market bets on a U.S. election win for Republican Donald. Trump - Bitcoin, Trump Media and gold - were pared back.

The dollar index was firmer.

Key developments that must provide more direction to U.S. markets in the future Friday:. * United States October employment report, October producing studies. from ISM and S&P Global. * US corporate incomes: Exxon, Chevron, PPL, Dominion Energy, T. Rowe Rate, Cboe Global Markets, Church & & Dwight, Cardinal. Health, Waters, LyondellBasell Industries, Charter. Communications

(source: Reuters)