Stocks end Friday’s session little changed, Dow snaps 4-week win streak
The Dow Jones Industrial Average ended little changed Friday and finished lower for the week as investors evaluated the latest earnings results and concerns of disappointing profits.
The 30-stock index added 22.34 points, or 0.07%, to end at 33,808.96, while the S&P 500 eked out a 0.09% gain to settle at 4,133.52. The Nasdaq Composite rose 0.11% to close at 12,072.46.
All major indices finished the week in the red, with the Dow falling 0.23% to snap a four-week win streak. The tech-heavy Nasdaq saw the biggest decline, falling 0.42%, while the S&P slipped 0.1%.
Apple launches its savings account with 4.15% interest rate
Apple on Monday launched its Apple Card savings account with a 4.15% annual percentage yield. It requires no minimum deposit or balance, Apple said, and users can set up an account from the Wallet app on their iPhones.
Users must have an Apple Card in order to open the savings account.
All Daily Cash rewards earned through the Apple Card will automatically be deposited to the savings account. Daily Cash is the Apple Card reward program that offers up to 3% back on purchases.
UK Deputy Prime Minister Dominic Raab resigns over bullying investigation
U.K. Deputy Prime Minister Dominic Raab resigned Friday, following an inquiry into bullying allegations.
British Prime Minister Rishi Sunak said Friday that it was “with great sadness” that he accepted Raab’s resignation.
An independent investigation launched into Raab’s behavior in November, after eight formal complaints were lodged by at least 24 staff members during Raab’s time as justice minister, foreign minister and Brexit minister.
Berkshire Hathaway’s utility company about to hit major renewable energy milestone
Berkshire Energy’s electricity production from renewable sources is on track to comfortably surpass the recent national average and come close to half of all power generation.
But Warren Buffet’s record on climate change remains a focus of ESG investors who say his company isn’t moving fast enough to prepare for the future.
It’s become a yearly feature of Berkshire’s upcoming annual meeting for activist shareholders to challenge, so far unsuccessfully, the most venerated investor of the past century for not doing enough about climate change.
MAS warns of dim growth in 2023, but expects inflation to be significantly lower by year end
ingapore's central bank, the Monetary Authority of Singapore (MAS) said that the country’s gross domestic product is expected to “moderate significantly” this year, and that prospects for growth this year have “dimmed.”
This comes as the economy grew 0.1% in the first quarter compared with a year ago, according to the trade and industry ministry’s advance GDP estimates. However, compared with the previous quarter, GDP contracted by 0.7%, the first contraction since the second quarter of 2022.
Upcoming events
Monday, 24 April
Singapore - Core CPI (YoY) (Mar)
United States - Dallas Fed Mfg Business Index (Apr)
United States - 6-Month Bill Auction
Tuesday, 25 April
United States - CB Consumer Confidence (Apr)
United States - New Home Sales (MoM) (Mar)
United Kingdom - Public Sector Net Cash Requirement (Mar)
Wednesday, 26 April
Singapore - Industrial Production (MoM) (Mar)
United States - Core Durable Goods Orders (MoM) (Mar)
United States - Crude Oil Inventories
Thursday, 27 April
United States - Initial Jobless Claims
United States - Pending Home Sales (MoM) (Mar)
Singapore - Unemployment Rate (Q1)
Friday, 28 April
United Kingdom - Nationwide HPI (MoM)
Euro Zone - French Consumer Spending (MoM)
Euro Zone - German GDP (QoQ) (Q1)
Commentaires