Amazon soars; Korea summit; Oil earnings

1. Amazon on fire: Shares in Amazon jumped more than 7% in extended trading after its earnings repor...

Posted: Apr 27, 2018 12:15 PM
Updated: Apr 27, 2018 12:15 PM

1. Amazon on fire: Shares in Amazon jumped more than 7% in extended trading after its earnings report wowed investors.

Amazon made $1.6 billion in profit during the first three months of 2018, more than double the same period a year earlier. The gains came even as it invests in costly fulfillment centers and original video programming.

Analysts had expected profit to slip compared to last year.

The performance was driven by Amazon's cloud computing business, Amazon Web Services, and a fast-growing advertising division that is now a multi-billion dollar business.

2. Korea summit: Stocks in Asia posted modest gains as the leaders of North and South Korea met for the first time in more than a decade.

Kim Jong Un became the first North Korean leader to cross the demilitarized zone into South Korea since fighting ended in the Korean War. He shook South Korean President Moon Jae-in's hand on both sides of the demarcation line.

The two spoke about denuclearizing the Korean Peninsula, improving relations and seeking a formal peace settlement.

3. Oil giants in focus: Exxon Mobil and Chevron are set to report their earnings before the opening bell.

Both companies announced a surprise dividend rise on Thursday.

Exxon's stock has gained 9.7% in the past month, while Chevron is up 8.3%. However, investors will be cautious after both companies missed their earnings in the last quarter.

Phillips 66 is also reporting on Friday.

US crude oil futures have soared 12.5% this year. They were trading 0.3% lower early on Friday at $68 per barrel.

4. Global market overview: US stock futures were mixed. European markets opened mostly higher.

The Dow Jones industrial average and the S&P 500 both closed 1% higher on Thursday, while the Nasdaq surged 1.6%.

Facebook jumped 9% on Thursday, notching its best day in more than two years, after reporting earnings. Chipotle soared 24% after reporting results that were much better than expected.

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5. Earnings and economics: The British economy stalled in the first quarter of 2018, expanding by just 0.1% over the previous quarter.

That was much weaker growth than economists were expecting (0.3%) and represents a sharp slowdown from the final quarter of 2017. It's also the weakest quarterly GDP data in more than 5 years.

The pound slumped in response, falling 0.7% against the US dollar, as the weak data undermines the case for another rise in UK interest rates anytime soon.

In France, economic growth slowed to 0.3% in the first quarter. Spain's economy expanded by 0.7% over the same period.

The US Bureau of Economic Analysis will release first quarter GDP data at 8:30 a.m. ET.

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6. Coming this week:
Friday - Exxon, Chevron Corp results; Q1 GDP

Minnesota Coronavirus Cases

Data is updated nightly.

Cases: 604509

Reported Deaths: 7638
CountyCasesDeaths
Hennepin1249671779
Ramsey52513897
Dakota46840471
Anoka42774458
Washington27428291
Stearns22557225
St. Louis18138313
Scott17551136
Wright16379149
Olmsted13399102
Sherburne1202095
Carver1067448
Clay826192
Rice8202110
Blue Earth762644
Crow Wing681795
Kandiyohi667985
Chisago619952
Otter Tail585884
Benton582998
Goodhue483874
Douglas475581
Mower470533
Winona461351
Itasca459763
Isanti440064
McLeod430661
Morrison424762
Beltrami407861
Nobles407650
Steele397816
Polk389072
Becker386755
Lyon363853
Carlton353056
Freeborn347033
Pine334923
Nicollet331245
Mille Lacs311854
Brown307840
Le Sueur297326
Cass286232
Todd285633
Meeker263443
Waseca238023
Martin235332
Roseau211221
Wabasha20793
Hubbard196641
Dodge18783
Renville182446
Redwood176539
Houston174616
Cottonwood167124
Wadena163323
Fillmore157610
Faribault154719
Chippewa154038
Pennington153820
Kanabec146828
Sibley146810
Aitkin138937
Watonwan13579
Rock128719
Jackson122712
Pipestone116726
Yellow Medicine114920
Pope11306
Murray107110
Swift106918
Koochiching95418
Stevens92411
Clearwater89016
Marshall88817
Lake83220
Wilkin83213
Lac qui Parle75622
Big Stone6044
Grant5948
Lincoln5853
Mahnomen5669
Norman5479
Kittson49022
Unassigned48193
Red Lake4017
Traverse3775
Lake of the Woods3453
Cook1720

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 371101

Reported Deaths: 6053
CountyCasesDeaths
Polk58263640
Linn21221339
Scott20308248
Black Hawk16157312
Woodbury15240230
Johnson1462385
Dubuque13510211
Dallas1129199
Pottawattamie11228174
Story1071648
Warren583791
Clinton561593
Cerro Gordo554095
Sioux517574
Webster515894
Muscatine4882106
Marshall486976
Des Moines467672
Wapello4338122
Buena Vista426940
Jasper421172
Plymouth403181
Lee382356
Marion366076
Jones300957
Henry294637
Bremer288461
Carroll287152
Boone268634
Crawford268240
Benton259855
Washington257351
Dickinson249344
Mahaska232651
Jackson225242
Clay216727
Kossuth216166
Tama212071
Delaware211143
Winneshiek198735
Page194522
Buchanan194033
Cedar192423
Hardin187544
Fayette186643
Wright186040
Hamilton181951
Harrison180073
Clayton171057
Butler166335
Madison164619
Mills163824
Floyd163442
Cherokee159338
Lyon158841
Poweshiek157036
Allamakee152952
Hancock150334
Iowa149824
Winnebago144531
Cass139255
Calhoun138913
Grundy137233
Emmet135841
Jefferson133535
Shelby131837
Sac130920
Union130035
Louisa129649
Appanoose129049
Mitchell126643
Chickasaw124917
Franklin123523
Guthrie123332
Humboldt119626
Palo Alto113623
Howard105022
Montgomery103638
Clarke100924
Keokuk96732
Monroe96431
Unassigned9540
Ida91535
Adair87332
Pocahontas85822
Davis85225
Monona82931
Osceola78916
Greene78011
Lucas77923
Worth7618
Taylor66812
Fremont6269
Decatur6169
Ringgold56424
Van Buren56318
Wayne54423
Audubon53311
Adams3444
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