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Apple's gift to investors; Fed decision; Tesla earnings

1. Apple rewards investors: Shares in Apple jumped as much as 4% in extended trading after the compa...

Posted: May 2, 2018 11:44 AM
Updated: May 2, 2018 11:44 AM

1. Apple rewards investors: Shares in Apple jumped as much as 4% in extended trading after the company announced a record cash giveaway to shareholders.

Apple spent $22.8 billion buying back its own stock in the first three months of this year and announced plans for further $100 billion worth of share buybacks.

Apple sold 52.2 million iPhones during the first three months of the year, up just 3% from the same period a year earlier. Analysts had expected sales to hit 53 million iPhones.

2. Europe health check: The eurozone economy grew 0.4% in the first quarter of 2018 compared to the previous three months, according official data. That's a slowdown from 0.7% in the previous quarter.

The GDP data, which was in line with analyst expectations, could influence plans by the European Central Bank to gradually end its stimulus program. The central bank had recently downplayed some weak regional economic data.

Some European economies are faring better than others: Data released last week showed the UK economy stalled in the first quarter, expanding just 0.1%.

3. Metal moves: Shares in aluminum producer Rusal surged 8% in Hong Kong after the US Treasury extended a deadline for investors to divest their holdings in the sanctioned company.

The Russian oligarch Oleg Deripaska agreed last week to reduce his stake EN+, a company listed in London that is the largest shareholder in Rusal, to below 50%.

Deripaska was hit earlier this month with tough sanctions on Russian oligarchs that target him and his businesses. EN+ and Rusal are part of a tangled web of corporate entities under his control.

Aluminum prices, which spiked dramatically after the sanctions were imposed, have fallen 13% from their recent high.

4. Fed decision: The US Federal Reserve will announce an interest rate decision at 2:00 p.m. ET.

Economists expect the central bank to keep rates on hold, but they will pay close attention to any details that give a sense of the bank's plans.

The Fed signaled in March that the path of future rate hikes could be "slightly steeper" over the next few years than previously thought.

5. Global market overview: US stock futures were mixed.

Major European markets opened higher, while stocks in Asia ended the session mixed.

US crude futures jumped 0.6% ahead of the release of a weekly oil inventories report to trade at $67.70 per barrel.

The S&P 500 closed 0.3% higher on Tuesday and the Nasdaq added 0.9%. The Dow Jones industrial average shed 0.3%.

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6. Earnings and economics: CVS Health, Energizer, Estee Lauder, Garmin, Humana, MasterCard, Molson Coors Brewing, and Yum! Brands will release earnings before the open.

Avis Budget, Caesars Entertainment, Express Scripts, Fidelity National, Fitbit, Hyatt Hotels, Kraft Heinz, MetLife, Spotify, Sprint, Square, Tesla, and Valvoline will follow after the close.

Gilead Sciences slumped 6% in extended trading following a disappointing set of results.

Match Group, the owner of Tinder, plunged 22% on Tuesday after Facebook unveiled a new dating feature.

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7. Coming this week:
Wednesday - CVS, Humana, Kraft Heinz, Metlife, Molson Coors, Spotify, Tesla, Yum; Fed meeting
Thursday - Cigna, DowDuPont, Kellogg, Weight Watchers earnings
Friday - Alibaba, Newell Brands earnings; Berkshire Hathaway annual shareholder weekend kicks off; Jobs report

Minnesota Coronavirus Cases

Data is updated nightly.

Cases: 604687

Reported Deaths: 7643
CountyCasesDeaths
Hennepin1250161780
Ramsey52519898
Dakota46852471
Anoka42789458
Washington27436291
Stearns22561225
St. Louis18146313
Scott17553137
Wright16383149
Olmsted13406102
Sherburne1202795
Carver1067448
Clay826592
Rice8204110
Blue Earth762744
Crow Wing681895
Kandiyohi668185
Chisago620152
Otter Tail586284
Benton582998
Goodhue484074
Douglas475781
Mower470533
Winona461451
Itasca460163
Isanti440364
McLeod430961
Morrison424962
Beltrami407962
Nobles407750
Steele397816
Polk389072
Becker386755
Lyon363853
Carlton353056
Freeborn347133
Pine334923
Nicollet331345
Mille Lacs311854
Brown308040
Le Sueur297326
Cass286332
Todd285633
Meeker263543
Waseca238023
Martin235333
Roseau211221
Wabasha20793
Hubbard196641
Dodge18783
Renville182846
Redwood176539
Houston174616
Cottonwood167124
Wadena163423
Fillmore157610
Faribault155219
Chippewa154038
Pennington153820
Kanabec146828
Sibley146810
Aitkin138937
Watonwan13579
Rock128719
Jackson122812
Pipestone116726
Yellow Medicine115020
Pope11306
Murray107110
Swift106918
Koochiching95518
Stevens92411
Clearwater89016
Marshall88817
Lake83220
Wilkin83213
Lac qui Parle75622
Big Stone6044
Grant5948
Lincoln5853
Mahnomen5669
Norman5479
Kittson49022
Unassigned48393
Red Lake4017
Traverse3775
Lake of the Woods3453
Cook1720

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 371226

Reported Deaths: 6056
CountyCasesDeaths
Polk58274641
Linn21241339
Scott20311248
Black Hawk16180312
Woodbury15241230
Johnson1462285
Dubuque13515211
Dallas1129499
Pottawattamie11233174
Story1072048
Warren583891
Clinton561593
Cerro Gordo554196
Sioux517674
Webster516094
Muscatine4884106
Marshall487176
Des Moines467672
Wapello4337122
Buena Vista427040
Jasper421172
Plymouth403181
Lee382556
Marion366176
Jones301057
Henry294537
Bremer288761
Carroll287252
Boone268534
Crawford268340
Benton260355
Washington257551
Dickinson249344
Mahaska232751
Jackson225242
Clay216727
Kossuth216166
Tama212271
Delaware211143
Winneshiek198935
Page194522
Buchanan194133
Cedar192323
Hardin187544
Fayette186943
Wright186140
Hamilton182051
Harrison179973
Clayton171157
Butler166535
Madison164519
Mills163924
Floyd163542
Cherokee159338
Lyon158941
Poweshiek157136
Allamakee152852
Hancock150334
Iowa149724
Winnebago144531
Cass139255
Calhoun138813
Grundy137433
Emmet135841
Jefferson133335
Shelby131637
Sac130920
Union130035
Louisa129849
Appanoose129049
Mitchell126743
Chickasaw124917
Franklin123523
Guthrie123332
Humboldt119626
Palo Alto113523
Howard105022
Montgomery103638
Clarke101124
Keokuk96832
Monroe96431
Unassigned9550
Ida91635
Adair87432
Pocahontas85822
Davis85325
Monona83431
Osceola78917
Greene78011
Lucas77923
Worth7628
Taylor66812
Fremont6279
Decatur6169
Ringgold56424
Van Buren56418
Wayne54423
Audubon53411
Adams3444
Rochester
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Mason City
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Austin
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Showers and storms possible Thursday through Saturday
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