Potential trade negotiations between the U.S. and China are also lifting sentiment
Hopes of a trade deal between the U.S. and China -- along with a strong jobs report -- are driving investor optimism this morning. Dow Jones Industrial Average (DJI), Nasdaq-100 Index (NDX), and S&P 500 Index (SPX) futures are all sharply higher, as China considers opening up trade negotiations, reinforcing it would like the U.S. to cancel unilateral tariffs.
Meanwhile, the latest nonfarm payrolls pointed to strong job growth, coming in at 177,000 for April -- much higher tan the 133,000 estimates. Earnings results from Apple (AAPL) and Amazon.com (AMZN) are in focus as well.
Continue reading for more on today's market, including:
- Insurance stock could rebound after earnings drop.
- CFO departure draws options traders to eBay stock.
- Plus, digging into quarterly results from Exxon Mobil, Apple, and Block.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.9 million call contracts and 1 million put contracts exchanged on Thursday. The single-session equity put/call ratio came in at 0.52, while the 21-day moving average stayed at 0.60.
- Exxon Mobil Corp (NYSE:XOM) stock is up 0.5% before the bell, after the oil giant shared a first-quarter profit beat. Shares are also brushing off a revenue miss amid lower oil prices. Over the last 12 months, XOM shed 8.8%.
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Though
Apple Inc (NASDAQ:AAPL) beat analysts' estimates for its fiscal second-quarter, CEO Tim Cook noted it would be "very difficult" to predict the longer-term
impact of tariffs on its products. AAPL is down 3.5% in premarket trading, looking to extend a 14.8% year-to-date deficit.
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The shares of
Block Inc (NYSE:XYZ) are down a whopping 22.7% before the open, after the
fintech name posted a first-quarter revenue miss. The company also cut its full-year gross profit outlook, noting it is now taking a "cautious stance" on economic uncertainty. XYZ is down 31.2% so far in 2025.
- Inflation data is due out next week, and the Federal Open Market Committee’s (FOMC) two-day policy meeting will be in focus.
Asian, European Markets Rise on Easing Trade Tensions
Asian markets rose Friday, as investors welcomed news that China is evaluating potential trade talks with the U.S. Hong Kong’s Hang Seng led regional gains, climbing 1.7% alongside the area's tech sector. Japan’s Nikkei added 1% -- brushing off news that its unemployment rate moved up to 2.5% in March -- while South Korea’s Kospi added 0.1% following steady inflation data. China’s Shanghai Composite remained closed for the Labor Day holiday.
In Europe, stocks are higher midday, lifted by easing trade tensions and strong sector performance. Germany’s DAX is up 1.8%, France’s CAC 40 has gained 1.5%, and London’s FTSE 100 is 0.8% higher. Construction names are leading the charge across the region.