Apple disappoints; US jobs report; Trump talks China trade

1. Great expectations: Shares in Apple (...

Posted: Nov 2, 2018 12:26 PM
Updated: Nov 2, 2018 12:26 PM

1. Great expectations: Shares in Apple (APPL) were poised to drop sharply after the company warned that sales during the holiday quarter would fall short of analyst expectations.

The tech firm said Thursday it expects fourth quarter sales of between $89 billion and $93 billion, not much more than the record $88.3 billion it reported a year ago.

Apple Inc

Banking, finance and investments

Business and industry sectors

Business, economy and trade

Companies

Company activities and management

Company earnings

Economic indicators

Economy and economic indicators

Financial markets and investing

Financial performance and reports

Financial results

General Motors

Labor and employment

Labor sector performance

Real estate

Real estate sector performance

Securities trading

Stock indexes

Stock markets

General Electric Co

Donald Trump

Employment trends

Government and public administration

Government bodies and offices

Political Figures - US

Politics

Unemployment rates

US federal government

White House

International trade

Trade and development

Asia

Continents and regions

North America

The Americas

United States

China

East Asia

Employment rates

Apple's third quarter earnings report came with a few more surprises: It said it will stop reporting how many iPhones, iPads and Macs it sells each quarter.

That could be because sales of Apple's flagship device have flattened. The company sold 46.9 million iPhones during the third quarter, virtually unchanged from a year ago.

The disappointing news could cost the company in another way: It's in danger of losing its status as the lone trillion-dollar company when trading opens in New York.

2. US jobs report: The US economy added 250,000 jobs in October.

The unemployment rate remained at a 49-year low of 3.7%. Wages grew 3.1%, robust growth after years of stagnant paychecks.

Economists polled by Refinitiv had expected 190,000 new jobs in October.

The strong number could help shore up President Donald Trump's economic message going into the midterm election, after a month of market turmoil that has mostly erased Wall Street's gains for the year.

3. China deal? Stock markets around the world climbed on optimism about a potential ceasefire in the trade war between the United States and China.

The biggest rises were in Asia. Hong Kong's Hang Seng Index surged more than 4% while China's Shanghai Composite and Japan's Nikkei both jumped about 2.5%.

The positive momentum started after Trump on Thursday talked up the prospects of a deal on trade with Beijing after speaking with Chinese leader Xi Jinping by phone.

Amid the buoyant mood, China's beaten down currency, the yuan, rose about 0.4% against the dollar. Major European markets gained around 1% in early trading, and US stock futures were up nearly 1%.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

4. Earnings and economics: Alibaba (BABA), Chevron (CVX), Cinemark (CNK), Exxon Mobil (XOM), Newell Brands (NWL) and US Cellular (USM) will release earnings before the open.

US oil futures dropped around 0.5% after Bloomberg reported the Trump administration has agreed to let eight countries continue buying Iranian oil even after sanctions kick in next week.

Markets Now newsletter: Get a global markets snapshot every afternoon. Sign up now!

5. Coming this week:

Friday — Chevron (CVX), Exxon (XOM), Newell Brands (NWL), MSG Networks (MSGN), and Seagate Technology (STX) earnings; US jobs report

Terre Haute
Clear
85° wxIcon
Hi: 93° Lo: 73°
Feels Like: 93°
Robinson
Clear
81° wxIcon
Hi: 92° Lo: 70°
Feels Like: 88°
Indianapolis
Clear
85° wxIcon
Hi: 90° Lo: 73°
Feels Like: 91°
Rockville
Clear
79° wxIcon
Hi: 92° Lo: 72°
Feels Like: 82°
Casey
Clear
84° wxIcon
Hi: 91° Lo: 72°
Feels Like: 91°
Brazil
Clear
85° wxIcon
Hi: 92° Lo: 72°
Feels Like: 93°
Marshall
Clear
85° wxIcon
Hi: 92° Lo: 71°
Feels Like: 93°
The Heat Continues
WTHI Planner
WTHI Temps
WTHI Radar

WTHI Events

 

Illinois Coronavirus Cases

(Widget updates once daily at 7 p.m. CT)

Confirmed Cases: 149574

Reported Deaths: 7273
CountyConfirmedDeaths
Cook930534651
Lake10039425
DuPage9392477
Kane7909276
Will6996322
Winnebago311897
McHenry214198
St. Clair2054138
Kankakee131265
Unassigned1177210
Rock Island107330
Madison105470
Kendall100622
Champaign97315
Boone61721
DeKalb58720
Peoria57429
Sangamon46233
Jackson34019
McLean28913
Randolph2887
Stephenson2806
Ogle2784
Clinton24317
Macon23822
LaSalle23317
Whiteside20015
Union19519
Coles17917
Grundy1765
Iroquois1675
Tazewell1548
Knox1490
Warren1470
Monroe13713
Cass1367
Adams1341
Williamson1334
Morgan1323
Jefferson10717
Lee1042
McDonough10215
Henry981
Pulaski800
Vermilion792
Marion700
Macoupin603
Perry581
Montgomery561
Douglas540
Livingston532
Christian474
Jasper477
Jo Daviess471
Ford401
Woodford372
Jersey361
Franklin340
Bureau312
Menard260
Mercer250
Washington240
Fayette233
Mason230
Wabash230
Alexander220
Carroll212
Johnson200
Piatt200
Effingham191
Hancock191
Moultrie190
Shelby191
Crawford180
Logan180
Bond171
Cumberland170
Clark150
Fulton150
Massac150
Wayne151
Schuyler130
De Witt120
Marshall120
Edgar110
Brown100
Saline100
Greene80
Henderson80
Lawrence80
White80
Richland70
Hamilton60
Stark60
Gallatin40
Pike40
Clay20
Edwards20
Calhoun10
Hardin10
Pope10
Putnam10
Scott10
Out of IL00

Indiana Coronavirus Cases

(Widget updates once daily at 8 p.m. ET)

Confirmed Cases: 48626

Reported Deaths: 2717
CountyConfirmedDeaths
Marion11723689
Lake5212244
Elkhart332051
Allen2815132
St. Joseph198168
Cass16399
Hamilton1596101
Hendricks1414100
Johnson1288117
Porter73637
Tippecanoe7279
Madison66364
Clark66044
Bartholomew58944
Howard58057
LaPorte57926
Vanderburgh5706
Kosciusko5564
Marshall4926
Noble48428
Jackson4723
LaGrange4719
Delaware45050
Boone44943
Hancock44935
Shelby43025
Floyd38244
Morgan32931
Monroe30128
Montgomery29720
Grant29526
Clinton2892
Dubois2836
Henry28016
White26510
Decatur25532
Lawrence24625
Vigo2368
Dearborn23323
Warrick22129
Harrison21622
Greene19032
Miami1842
Jennings17612
Putnam1708
DeKalb1634
Scott1628
Daviess14717
Wayne1426
Orange13523
Perry1359
Steuben1302
Franklin1268
Ripley1227
Jasper1212
Wabash1132
Carroll1102
Fayette1017
Newton9910
Whitley965
Starke933
Gibson872
Randolph804
Huntington782
Wells751
Jefferson722
Fulton711
Jay680
Washington671
Pulaski661
Knox640
Clay604
Rush583
Adams501
Owen491
Benton480
Sullivan451
Posey440
Spencer411
Blackford392
Brown391
Crawford320
Fountain322
Tipton311
Switzerland270
Martin230
Parke230
Ohio170
Vermillion140
Warren141
Union130
Pike110
Unassigned0193