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Watch Us LIVE from the Floor of NYSE! May 5, 2017 Financial News - Business News - Stock News - Market News - Stock Exchange CLICK HERE➡ ➡ http://FinancialBuzz.com Business News - Financial News - Stock News -- New York Stock Exchange -- Market News 2017 Business News - Financial News - Stock Exchange -- Wall Street -- Market News - New York Stock Exchange 2017 On Monday personal income for March rose .2% on top of the prior month’s .3% gain, however, this was lower growth than expected. Consumer spending was flat, unchanged from the prior month. The PCE price index declined .2% after rising .1% the prior month. The ISM manufacturing index for April fell 2.4 points to 54.8 and construction spending for March fell .2% after rising 1.8% in the prior month. Markets took a shock when President Trump made comments about breaking up the big banks, however, markets closed mixed with the Nasdaq Composite ending at a record high. On Tuesday, oil continued falling with West Texas Intermediate crude closing 2.4% lower to $47.66 a barrel and 10-year Treasuries yielded 2.29%. Markets didn’t do much as investors waited for the Federal Reserve to conclude its meeting. On Wednesday, the ISM non-manufacturing index for April rose 2.3 points to 57.5, and the EIA petroleum status report for the week ending April 28th saw crude inventories falling 900,000 barrels. The Federal Reserve finished its meeting and did not raise interest rates. The Fed said although consumer spending was weak in the first quarter, it was only transitory, and the second quarter will experience a rebound. On Thursday, jobless claims for the week ending April 29th fell 19,000 to 238,000, factory orders for March rose .2%, lower than expectations, and nonfarm productivity for the first quarter declined .6% and unit labor costs rose 3%. U.S. crude fell almost 5% to $45.52 a barrel as reports show oil supplies remain in surplus, despite OPEC’s production cuts. Markets were mostly unchanged at the close. On Friday, nonfarm payrolls for April grew by 211,000 and the unemployment rate fell to 4.4%. Average hourly earnings increased .3%. Markets opened mixed after Warren Buffet made some negative comments about IBM. Now let’s take a look at some stocks. Advanced Micro Devices, Inc. (NASDAQ: AMD) shares fell over 20% after the company reported a lower second quarter gross margin forecast, raising concerns about the company’s profitability. The chip maker said revenue rose 18% to $984 million in the first quarter, compared with $832 million a year earlier. Twilio Inc. (NYSE: TWLO) plunged over 28% Wednesday morning after the company’s guidance for second-quarter revenue fell short of analysts’ estimates. Twilio said it expects second-quarter revenue of around $86.5 million and full year revenue of around $359 million. Analysts had projected $87.8 million for the second quarter and $370 million for all of 2017. On Tuesday, Apple Inc. Apple Inc. (NASDAQ: AAPL) reported its revenue increased 4.6% to $52.9 billion in the second quarter, which was lower than analysts’ estimates of $53 billion. Interestingly, the company’s guidance for the next quarter’s revenue is only around $44 billion. Stock value fell Wednesday morning and then rose throughout the day. On Wednesday, Delphi Automotive PLC (NYSE: DLPH), announced revenue increased 9% to $4.3 billion in the first quarter adjusted for currency exchange, commodity movements, acquisitions and divestitures. Share value surged over 10% as the company announced plans to spin-off their Powertrain segment, creating two independent companies. Tesla, Inc. (NASDAQ: TSLA) reported first-quarter earnings Wednesday after market, with vehicle production increasing 64% compared to a year ago, enabling the company to set new quarterly records of 25,051 deliveries and $2.7 billion in GAAP revenue. On a non-GAAP basis, Tesla lost $1.33 per share, a bigger loss than what the Street was expecting. Tesla fell over 5% on Thursday. © 2011 Financial Buzz. All rights reserved. No portion of FinancialBuzz.com may be duplicated, redistributed or manipulated in any form without our consent, violators will be prosecuted to the full extent of the law.

• published: 05 May 2017
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