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Amazon is down 2% in pre-market trade after issuing light guidance and citing tariff and trade policy concerns. Apple is off 4% after Services revenue missed expectations and the company flagged $900 million in added tariff-related costs for the current quarter.
Traders are now positioned for the April jobs report and a heavy earnings slate before the bell.
Key Economic Releases
At 12:30 GMT, the April jobs report hits. Street expectations are for +133,000 jobs added, down from +228,000 in March.
The unemployment rate is seen holding at 4.2%, while average hourly earnings are forecast to rise 0.3% MoM / 3.9% YoY.
Markets may shrug off a soft print around 130K, but anything closer to 100K or below could reignite recession worries, especially after weak ADP numbers, GDP contraction, and surging jobless claims earlier this week.
Notable Earnings
Before the Opening Bell (all times GMT):
- Exxon Mobil (XOM, 10:30 GMT): Est. EPS $1.70 on $86.09B revenue
- Chevron (CVX, 10:15 GMT): Est. EPS $2.18 on $48.08B revenue
- Shell (SHEL, 06:00 GMT): EPS $1.84 beat (+11.5%); revenue $69.23B (–12.5% YoY)
- Cigna (CI, 10:00 GMT): Est. EPS $6.35 on $60.39B revenue
- Rowe Price (TROW, 11:00 GMT): Est. EPS $2.13 on $1.78B revenue
- Eaton Corp (ETN, 10:30 GMT): Est. EPS $2.71 on $6.25B revenue
- DuPont (DD, 10:00 GMT): Est. EPS $0.95 on $3.04B revenue
- Franklin Resources (BEN, 12:30 GMT): Est. EPS $0.47 on $1.98B revenue
- FuboTV (FUBO, 11:30 GMT): Est. EPS –$0.03 on $415.45M revenue
Energy and industrial names dominate the morning slate. Shell’s solid EPS beat despite lower revenue may support oil majors early. Traders will also be watching Cigna and Eaton closely for sector read-throughs in healthcare and industrials.
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