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Apple (AAPL 166.89, +0.72, +0.4%): will eliminate small amount of jobs, according to Bloomberg
Wal Mart (WMT 148.73, +0.04, +0.03%): to eliminate 2000 jobs in e-commerce warehouses, according to BloombergEtsy (ETSY 112.09, +3.84, +3.6%): upgraded to Overweight from Neutral at Piper Sandler
Sarepta Therapeutics (SRPT 142.00, +4.45, +3.2%): Citigroup initiated coverage with a Buy
AMC Entertainment (AMC 3.70, -1.41, -27.6%) and AMC Preferred Equity units (APE 1.8200, +0.34, +23.0%): AMC Entertainment enters into a binding settlement term sheet with the named plaintiffs in the case In re AMC Entertainment Holdings, Inc. Stockholder Litigation to settle the Shareholder Litigation
Dow 33,402.38 -198.77 -0.59%
S&P 500 4,100.60 -23.91 -0.58%
Nasdaq 12,126.33 -63.13 -0.52%
VIX 19.12 0.57 3.07%
Gold 2,039.50 39.10 1.95%
Oil 80.48 0.06 0.07%Equity indices in the Asia-Pacific region ended the midweek session on a mixed note while markets in China and Hong Kong were closed for Ching Ming Festival.
—Equity Markets—
Japan’s Nikkei: -1.7%
Hong Kong’s Hang Seng: CLOSED
China’s Shanghai Composite: CLOSED
India’s Sensex: +1.0%
South Korea’s Kospi: +0.6%
Australia’s ASX All Ordinaries: UNCHChina’s Commerce Ministry warned that decisive action will be taken if Japan obstructs cooperation in the chip industry.
Chinese regulators have slowed merger reviews for acquisitions proposed by U.S. companies, according to The Wall Street Journal.Australia’s Services PMI dipped back into contraction in the final reading for March.
Australia’s March Services PMI 48.6 (expected 48.2; last 50.7).
March AIG Construction Index -5.8 (expected -8.0; last -5.0) and AIG Manufacturing Index 5.6 (expected -4.0; last -6.4)Japan’s March Services PMI 55.0 (expected 54.2; last 54.2)
India’s March Nikkei Services PMI 57.8 (expected 58.3; last 59.3)
Singapore’s February Retail Sales 3.9% m/m (expected 0.0%; last -9.5%); 12.7% yr/yr (expected 3.3%; last -0.8%)
The Reserve Bank of New Zealand raised its official cash rate by 50 bps to 5.25% against expectations for a 25-bps increase.
Major European indices trade just below their flat lines while Spain’s IBEX (+0.5%) outperforms.
—Equity Markets—
STOXX Europe 600: -0.3%
Germany’s DAX: -0.6%
U.K.’s FTSE 100: +0.4%
France’s CAC 40: -0.3%
Italy’s FTSE MIB: -0.5%
Spain’s IBEX 35: +0.5%March Services PMI readings from Germany, France, Italy, and Spain improved from their final February levels, though the improvement in Germany and France was not as large as expected.
Eurozone’s March Services PMI 55.0 (expected 55.6; last 52.7)
Germany’s March Services PMI 53.7 (expected 53.9; last 50.9)
U.K.’s March Services PMI 52.9 (expected 52.8; last 53.5)
France’s March Services PMI 53.9 (expected 55.5; last 53.1)
Italy’s March Services PMI 55.7 (expected 53.2; last 51.6).
Spain’s March Services PMI 59.4 (expected 57.5; last 56.7).Germany’s February Factory Orders 4.8% m/m (expected 0.3%; last 0.5%). March Services PMI 53.7 (expected 53.9; last 50.9)
U.K.’s March Services PMI 52.9 (expected 52.8; last 53.5)
France’s February Industrial Production 1.2% m/m (expected 0.5%; last -1.4%) and March Services PMI 53.9 (expected 55.5; last 53.1)
Italy’s Q4 Public Deficit 5.6% (expected 2.3%; last 9.2%). March Services PMI 55.7 (expected 53.2; last 51.6). February Retail Sales -0.1% m/m (expected 0.0%; last 1.7%); 5.8% yr/yr (expected 4.4%; last 6.0%)
Spain’s February Industrial Production -0.4% yr/yr (expected -0.1%; last -0.2%) and March Services PMI 59.4 (expected 57.5; last 56.7). March Consumer Confidence 67.4 (last 71.6)
UnitedHealth (UNH 497.68, +4.43, +0.9%): upgraded to Strong Buy from Outperform at Raymond James
First Citizens BancShares (FCNCA 976.00, +19.60, +2.1%): upgraded to Buy from Sell at UBS
Zions Bancorp (ZION 28.61, +0.90, +3.3%): upgraded to Outperform from Neutral at Robert W. Baird
Walmart (WMT 146.80, -0.43, -0.3%): affirms FY24 EPS, net sales growth, comp growth guidance; reaffirms Q1 EPS guidance; affirms commitment to financial framework of 4% sales growth and 4%+ operating income growth over the next 3-5 years
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