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Market Headlines 👀 

• USD/JPY the Japanese Yen has now weakened to 160 against the dollar, not seen since 1990.

• Tesla (TSLA) sees a big pop today after Elon meets with officials in China over the weekend and strikes a deal with Baidu to license its maps and navigation to roll out FSD in the country.

• Apple (AAPL) talks with OpenAI intensify to partner and use it to create generative AI features.

• Alphabet (GOOGL) announces they are laying off its Python foundation engineering team.

• Boeing (BA) goes to the debt market to raise $10b in capital.

Earnings 💸

• Sofi Technologies (SOFI)

  • EPS: $0.02 beats (exp. $0.01)

  • Revenue: $580.7m beats (exp. $560m)

• Dominoes Pizza (DPZ)

  • EPS: $3.58 beats (exp. $3.40)

  • Revenue: $1.08b meets (exp. $1.08b)

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

Sofi earnings snapshot (contributed by Brad Freeman @Stockmarketnerd):

The S&P 500 rebounded off last week’s oversold condition as expected. It now faces a test at resistance of the 50-day moving average ~5,125. A failure to resoundingly break above this level could suggest that the index is in for more volatility in the near term, while a break above is an encouraging sign that further lows may not have to be tested. (Contributed by Cameron Dawson, CIO at NewEdge Wealth).

Market Preview 🎞️

• Tuesday, April 30th: Consumer Confidence; Employment cost index; US Treasury Quarterly refunding issuance composition

• Tuesday earnings: Amazon (AMZN), PayPal (PYPL), Advanced Micro Devices (AMD), Pinterest (PINS), SuperMicro Computers (SMCI), Starbucks (SBUX), McDonalds (MCD), Coca-Cola (KA)and 3M (MMM)

• Wednesday, May 1st: MBA mortgage applications; ADP employment report; US Federal Reserve FOMC meeting; JOLTS job openings; ISM manufacturing index

• Wednesday earnings: Mastercard (MA), Qualcomm (QCOM), Pfsizer (PFE), Norwegian Cruise Line (NGL), and Etsy (ETSY)

• Thursday, May 2nd: Weekly jobless claims; EIA natural gas inventories

• Thursday earnings: Apple (AAPL), Coinbase (COIN), Cloudfare (NET), Block (SQ), DraftKings (DKNG), Peloton (PTON), and Moderna (MRNA)

• Friday, May 3rd: Non-farm payrolls data; Unemployment rate

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That’s all for today, folks! We’ll be back around the same time tomorrow with a curated list of important news, economic data and market highlights. 

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