Weekly Market Update – April 29, 2019

 

Last Week

  • U.S. to Remove Waivers on Iran Oil Imports -Last year, the U.S. reinstated sanctions on Iran but allowed waivers for some nations. These waivers are now scheduled to end.
  • U. S Economy Grew 3.2% in the First Quarter -The global growth picture was mixed last week with U.S. GDP reporting well above economist surveys.
  • Caterpillar Beats Expectations but Faces Cost Pressures -Despite profit and revenue beats in the first quarter, investors expressed concerns on the news that Caterpillar’s construction equipment sales decreased in every region except North America.

This Week

  • Alphabet, Apple to Report Earnings -Companies focused on technology will hold investors’ attention this week with Alphabet and Apple reporting earnings on Monday and Tuesday, respectively.
  • No Policy Change expected in Fed Meeting -The Federal Reserve meets this Wednesday with little expectation for a policy change.
  • U.S. Jobs Added Figure Expected to Remain Near Three – Month Average – The U.S. labor market is expected to remain strong, with surveys expecting April’s jobs added figure to reflect 185,000 new jobs.

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