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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

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 307519

Reported Deaths: 7096
CountyCasesDeaths
DeSoto20772248
Hinds19888408
Harrison17489302
Rankin13311275
Jackson13097243
Madison9895210
Lee9856169
Jones8290160
Forrest7523146
Lauderdale7187237
Lowndes6262144
Lamar610584
Lafayette6027117
Washington5280132
Bolivar4769129
Oktibbeha455297
Panola4442103
Pearl River4419139
Warren4280118
Marshall4273100
Pontotoc416472
Monroe4057132
Union403675
Neshoba3987176
Lincoln3869108
Hancock372085
Leflore3468124
Sunflower329389
Tate322681
Pike3180104
Scott310572
Yazoo304368
Alcorn297764
Itawamba296776
Copiah292965
Coahoma289677
Simpson287484
Tippah284668
Prentiss275659
Marion265779
Wayne261341
Leake261073
Grenada254982
Covington254580
Adams245882
Newton244859
George237847
Winston225981
Tishomingo222067
Jasper219748
Attala213273
Chickasaw204857
Holmes186471
Clay182454
Stone179131
Clarke176876
Tallahatchie175240
Calhoun163230
Yalobusha158836
Smith158534
Walthall130543
Greene129433
Lawrence126223
Noxubee125933
Montgomery125542
Perry125138
Carroll120826
Amite120041
Webster113432
Jefferson Davis105432
Tunica102525
Claiborne101330
Benton97225
Kemper95226
Humphreys94332
Franklin81823
Quitman78916
Choctaw72817
Jefferson64828
Wilkinson64727
Sharkey49617
Issaquena1686
Unassigned00

Alabama Coronavirus Cases

Cases: 518899

Reported Deaths: 10712
CountyCasesDeaths
Jefferson753641487
Mobile37763798
Madison33859494
Tuscaloosa25266443
Montgomery23962565
Shelby23106238
Baldwin20631300
Lee15524165
Calhoun14284311
Morgan14139268
Etowah13662345
Marshall11957219
Houston10380278
Elmore9993200
Limestone9811147
Cullman9470188
St. Clair9426234
Lauderdale9215227
DeKalb8746181
Talladega8058171
Walker7087275
Jackson6754110
Autauga6723103
Blount6483135
Colbert6203130
Coffee5399112
Dale4767110
Russell428838
Franklin419982
Chilton4083109
Covington4053114
Tallapoosa3893146
Escambia387674
Dallas3527149
Chambers3499122
Clarke346360
Marion3065100
Pike305875
Lawrence295395
Winston272372
Bibb256258
Marengo248661
Geneva245875
Pickens232959
Barbour224755
Hale218775
Butler212266
Fayette208960
Henry187844
Cherokee182044
Randolph176941
Monroe171440
Washington164038
Macon154548
Clay149354
Crenshaw149257
Cleburne146041
Lamar139234
Lowndes136453
Wilcox124327
Bullock121340
Conecuh109028
Perry107926
Sumter102932
Coosa99228
Greene90734
Choctaw58724
Out of AL00
Unassigned00
Tupelo
Clear
68° wxIcon
Hi: 86° Lo: 50°
Feels Like: 68°
Columbus
Partly Cloudy
72° wxIcon
Hi: 84° Lo: 48°
Feels Like: 72°
Oxford
Clear
63° wxIcon
Hi: 83° Lo: 48°
Feels Like: 63°
Starkville
Partly Cloudy
61° wxIcon
Hi: 84° Lo: 47°
Feels Like: 61°
A cold front will move into our area during our Tuesday. This front will bring some chances for some rain and isolated thunderstorms for our Tuesday night. Some of the activity will linger in our area into our Wednesday.
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