1. US economy in focus: Just a few months ago, forecasters saw trouble ahead for the American economy. Not anymore. The US Bureau of Economic Analysis is due to report gross domestic product at 8:30 a.m. ET, and economists polled by Refinitiv are now projecting 2.1% annualized growth for the first quarter.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -17.00 | | +13.25 | | -0.25 | | -0.06% | | +0.17% | | -0.01% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -48.85 | | -37.43 | | -8.73 | | 22,258.73 | | 3,086.40 | | 7,425.40 | | -0.22% | | -1.20% | | -0.12% | | | |
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| Biggest Winners | | Mattel Inc | +8.22% | | | | Ford Motor Co | +8.19% | | | | General Motors Co | +2.48% | | | | Harley-Davidson Inc | +2.44% | | | Biggest Losers | | Intel Corp | -7.62% | | | | Micron Technology Inc | -3.06% | | | | Western Digital Corp | -3.04% | | | | NVIDIA Corp | -2.42% | | | | | | | | |
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| News: What you need to know about the markets | | | | | | | US economic update; Amazon delivers; Uber IPO details | | By Charles Riley, CNN Business | | | | 1. US economy in focus: Just a few months ago, forecasters saw trouble ahead for the American economy. Not anymore. | | | | The US Bureau of Economic Analysis is due to report gross domestic product at 8:30 a.m. ET, and economists polled by Refinitiv are now projecting 2.1% annualized growth for the first quarter. | | | | That would be only slightly lower than the previous quarter's 2.2% — which followed two robust quarters in mid-2018. | | | | The US labor market has bounced back after disappointing data in February, and wages are growing faster than inflation. Consumer spending is recovering, and retail sales have rebounded after a slow start to 2019. | | | | Perhaps the biggest factor underpinning market confidence: The Federal Reserve predicted that it might hold off on interest rate hikes for the rest of the year. | | | | 2. Amazon earnings: Amazon said Thursday that it made a record $3.6 billion in profit for the first three months of 2019, more than doubling from $1.6 billion in the year prior. | | | | Amazon used to be known for bleeding money as it invested heavily in its businesses and rapidly increased revenue. Now it has entered a new era with comparatively sluggish sales growth, but consistent profits. | | | | The increase in Amazon's profits is all the more remarkable given how it continues to pour money into fulfillment centers, premium video content, bricks and mortar stores and health care. | | | | It's next big effort is super-fast deliveries. Amazon said Thursday that it plans to invest $800 million in the second quarter of 2019 toward making one-day shipping the standard offering of Prime. | | | | 3. Uber IPO: Uber is targeting a valuation of up to $90 billion in its initial public offering, according to media reports. | | | | Uber filed paperwork to go public earlier this month in what is likely to be one of the biggest public offerings ever for a technology company. The listing follows an aggressive overhaul of the company's internal culture. | | | | The tech firm plans to market shares to potential investors in a price range of about $44 to $50 each, according to Bloomberg. It could file documents with pricing details as soon as Friday. | | | | 4. What's next for Deutsche Bank? After ending merger talks with its rival Commerzbank on Thursday, Deutsche Bank has posted a 67% profit increase for the first quarter of 2019. | | | | But revenue fell 9%, and the company said it would be "essentially flat" for the year. Its investment bank saw revenues slump 13%. | | | | How will the German bank now address concerns over its ability to compete with US rivals? Investors aren't sure. Shares fell almost 3% in early trading in Frankfurt. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Global market overview: US stock futures were little changed. | | | | In Europe, London's FTSE 100 opened in negative territory, while Paris' CAC 40 and Frankfurt's DAX posted small gains. Stocks in Asia closed mixed. | | | | Sony warned investors that its annual profit would drop in the 2019 fiscal year as sales of its aging PS4 console decline. | | | | France's Renault reported that its revenue dropped 4.8% in the first quarter. Global vehicle sales declined 5.6% to 908,348 after US sanctions forced the carmaker to shutter its operations in Iran. | | | | American Airlines, Chevron, Exxon Mobil, Goodyear Tire, IMAX and LendingTree will release earnings before the open in New York. | | | | The Dow closed down 0.5% on Thursday while the S&P 500 was little changed. The Nasdaq added 0.2% but fell just short of a fresh record close. | | | | | | | |
| | | | | | | Friday — US GDP; US consumer sentiment for April | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $64.16 | -1.05 / -1.61% | | | Gold | $1,282.60 | +2.90 / +0.23% | | | 10-yr | 2.53% | +0.01 | | | Euro | $1.11 | 0.00 / 0.00% | | | |
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