Day Ahead - 2 May
nabtrade
[{'start': '5.200', 'end': '10.240', 'text': "Hello and welcome to the Day ahead. It is Friday,\xa0\nMay the 2nd. I'm Andrew Geoghegan. Well, the local"}, {'start': '10.240', 'end': '17.920', 'text': 'share market is set for a negative opening with\xa0\nASX futures off around 4/10 of a percent. Global'}, {'start': '17.920', 'end': '22.880', 'text': 'equity markets were mostly higher overnight as\xa0\ninvestors focused on earnings results. All three'}, {'start': '22.880', 'end': '29.040', 'text': 'major US stock indices began the month in positive\xa0\nterritory, with the Dow and S&P posting their'}, {'start': '29.040', 'end': '35.040', 'text': 'eighth straight session of gains after strong\xa0\nresults from Mega-cap, Microsoft and Meta. After'}, {'start': '35.040', 'end': '40.880', 'text': 'the bell, Apple reported earnings and estimated\xa0\nthat tariffs would add about 900 million USD in'}, {'start': '40.880', 'end': '46.880', 'text': "costs to the June quarter. If rates don't change,\xa0\nit reported weaker than expected sales from China,"}, {'start': '46.880', 'end': '53.680', 'text': 'with revenue down 2.3%. Apple shares were down\xa0\nclose to 3% in after hours trade, and Amazon'}, {'start': '53.680', 'end': '57.840', 'text': 'reported first quarter cloud revenue growth\xa0\nand forecast operating income below estimates,'}, {'start': '57.840', 'end': '63.440', 'text': 'which saw its shares fall around 5% after\xa0\nhours. Amazon Web Services The cloud,'}, {'start': '63.440', 'end': '66.640', 'text': "the company's cloud unit,\nrecorded an almost 17%"}, {'start': '66.640', 'end': '70.880', 'text': 'increase in quarterly revenue.\nShares in Microsoft surged after'}, {'start': '70.880', 'end': '75.120', 'text': 'delivering an upbeat quarterly growth forecast\xa0\nyesterday for its cloud computing business,'}, {'start': '75.120', 'end': '81.120', 'text': "Azure. The gains briefly pushing Microsoft above\xa0\nApple to become the world's most valuable company,"}, {'start': '81.120', 'end': '85.840', 'text': 'and meta also gained up to posting higher than\xa0\nexpected revenue on the back of strong advertising'}, {'start': '85.840', 'end': '91.680', 'text': 'performance. Mobile chip designer Qualcomm plunged\xa0\nafter it forecast a hit to revenue from the trade'}, {'start': '91.680', 'end': '99.696', 'text': "war. Software giant Atlassian reported revenue\xa0\nwas up to $1.4 billion. That's up 14% year on"}, {'start': '99.696', 'end': '106.000', 'text': "year for the quarter, while it reported a net\xa0\nloss of almost $71 million. The company's stock"}, {'start': '106.000', 'end': '111.840', 'text': 'falling in after hours trade some 15%. Eli\xa0\nLilly quarterly results topped expectations,'}, {'start': '111.840', 'end': '117.040', 'text': "but shares tumbled after CBS Health's decision\xa0\nto drop its obesity drugs a pound from some"}, {'start': '117.040', 'end': '121.680', 'text': "listed medicines it covers for reimbursement.\xa0\nAnd McDonald's earnings disappointed with the"}, {'start': '121.680', 'end': '128.240', 'text': 'surprise drop in first quarter global sales.\nWell, the ISM US manufacturing report for April'}, {'start': '128.240', 'end': '132.800', 'text': 'came in better than expected, but still fell to\xa0\na five month low and remained in contraction.'}, {'start': '132.800', 'end': '137.280', 'text': "The survey's measure of prices, paid by\xa0\nmanufacturers for imports, rose to the highest in"}, {'start': '137.280', 'end': '143.040', 'text': 'almost three years and showed tariffs on imported\xa0\ngoods are straining supply chains, maintaining'}, {'start': '143.040', 'end': '149.520', 'text': 'elevated prices for inputs. ICM commentary noted\xa0\nthat prices growth accelerated due to tabs causing'}, {'start': '149.520', 'end': '155.440', 'text': 'new order placement backlogs, supply delivery\xa0\nslowdowns and manufacturing inventory growth,'}, {'start': '155.440', 'end': '159.600', 'text': 'and Us Weekly jobless claims rose more than\xa0\nexpected, potentially hinting at a pickup in'}, {'start': '159.600', 'end': '164.720', 'text': "layoffs and tariffs, which weighed on the economy\xa0\nin the first quarter. Meanwhile, the Atlanta Fed's"}, {'start': '164.720', 'end': '174.160', 'text': 'GDP modelling of Q2 growth has been revised lower\xa0\nfrom an annualized rate of 2.4% down to 1.1%.'}, {'start': '174.160', 'end': '180.400', 'text': 'US Treasury yields rose from the three three week\xa0\nlows, the US ten year up around five basis points'}, {'start': '180.400', 'end': '187.440', 'text': 'to 4.22%, the two year, jumping around eight\xa0\nbasis points to 3.72. And the US dollar has'}, {'start': '187.440', 'end': '191.600', 'text': 'continued to bounce back on technical buying,\xa0\nwith investors more optimistic about tariff'}, {'start': '191.600', 'end': '199.600', 'text': 'deals Between the US and its trading partners.\xa0\nThe Aussie is currently down to 63.8 US cents,'}, {'start': '199.600', 'end': '209.200', 'text': 'and Bitcoin has risen above 96,500 US dollars.\nOil prices settled nearly 2% higher after'}, {'start': '209.200', 'end': '212.880', 'text': 'US President Donald Trump threatened\xa0\nsecondary sanctions on Iran, after a'}, {'start': '212.880', 'end': '220.640', 'text': 'fourth round of us-iran talks were postponed.\nBrent crude futures settling at $62 a barrel.'}, {'start': '220.640', 'end': '226.400', 'text': 'Copper is up around half a per cent, while iron\xa0\nore has fallen back to $95 a tonne and the gold'}, {'start': '226.400', 'end': '233.680', 'text': 'price has steadied to close at $3,297 an ounce,\xa0\nhaving fallen some 6% from its all time peak'}, {'start': '233.680', 'end': '239.520', 'text': 'of 3500 dollars two weeks ago.\nLocally, today we get the March'}, {'start': '239.520', 'end': '248.240', 'text': 'quarter producer prices and retail sales.\nThat is your day ahead. See you again on Monday.'}]