Apple was up nearly 5% in pre-market trading, while Robinhood was down more than 14%.Yields on two-year gilts rose above 1% for the first time in a decade

2022-05-31 0 By

① Apple rose as much as 4.8% in premarket trading.Apple posted its highest quarterly revenue ever, with net profit up 20.43% year on year to $34.63bn.Piper Sandler: Maintains apple’s overweight rating with a $200 price target.② Western Digital fell 8.58% premarket as second-quarter net profit rose 810% year on year, but warned that supply chain issues and the epidemic would affect near-term results.③Robinhood was down more than 14% in the premarket.Robinhood reported fourth-quarter revenue of $363 million, up 14% from a year ago but below estimates of $370.9 million.(4) Visa (V) rose more than 5% premarket on first-quarter net revenue of $7.1 billion, up 24% from a year earlier.⑤ Credit default swaps on European junk bonds rose 6 basis points to 286 basis points, the highest since December 1.(6) The euro zone economic sentiment index in January recorded 112.7, continuing to hit a new low since April 2021.⑦ The German economy grew an adjusted 1.4% yoy in the fourth quarter, compared with an estimate of 1.8%.Traders expect the Fed to raise rates by a cumulative 100 basis points by September, compared with the previous forecast by October.The yield on two-year UK government bonds rose above 1% for the first time in a decade.⑩ The Euro zone industrial Sentiment index for January was 13.9, vs. 15 exp.Daily Business News