Inflation worries are also still present, fueled by the acceleration of U.S. growth and semi-conductor shortages. New manufacturing data in China also dampened the mood, with disappointing April figures due to global chip shortages and port congestion.

U.S. consumer spending rebounded in March thanks to the government’s pandemic relief money, increasing by 4.2% last month after falling 1.0% in February, the Commerce Department said.

New York City Mayor Bill de Blasio announced on television that the city is ready to come back to life. Stores, corporate offices and cultural venues such as theaters could reopen by July 10 at full capacity. If the mayor of the city, which has 8.3 million inhabitants, seems so confident, it is because nearly 76% of the population of the Big Apple is already vaccinated. A rate slightly above the national rate, which is equal to 70%, according to CDC data.

Overall, the month ends on a positive note for stock markets, unless this last weekly session has any surprises in store. But it doesn't look like it. Listed companies are pumped up and the results achieved at the beginning of the year are a source of optimism.

Yesterday, markets were also boosted by the results of Apple, Facebook or Qualcomm. Today, the session will see Exxon Mobil, Chevron and AbbVie publish their earnings.

 

Economic highlights of the day

The session is rich in macroeconomic indicators, including Q1 GDP in France, Germany and the euro zone. In the US, household income and spending, the Chicago PMI and the University of Michigan consumer confidence index are on the agenda. Japan's March industrial production rose 2.2%, while the consensus was for a contraction. China's official manufacturing PMI for April was a bit disappointing at 51.1 versus 51.8 expected.

The euro/dollar pair is trading at USD 1.2083. The ounce of gold is down to USD 1768. Oil is giving back some of the previous day's gains, at USD 66.7 a barrel of Brent and USD 63.5 a barrel of WTI. The T-Bond yields 1.64% on the 10-year. Bitcoin is climbing back up to USD 54,700.

 

On markets:

* Amazon.com on Thursday reported a record profit for the January-March period as consumers shifted to online shopping amid the health crisis and companies paid more to have their products stocked and sold by the U.S. Giant. The stock is up 2.3% in pre-market trading.

* Apple - the European commission announced on Friday that it would open proceedings against the apple group for abuse of a dominant position in the online music market after a complaint from Spotify. Apple's stock loses 1.4% in pre-market trading.

* Twitter plunged 12 percent in premarket trading after reporting first-quarter revenue and users broadly in line with expectations on Thursday but said it expects higher costs and slower growth in new users.

* Exxon Mobil reported its first profit in five quarters on Wednesday, as rising oil and gas prices more than offset costs related to the cold snap that hit the U.S. In February.

* Chevron reported q1 earnings down 29% year-on-year as lower refining margins and production losses due to the u.S. Cold snap erased the positive impact of higher oil and gas prices. The share price lost 2% in pre-market trading.

* Pfizer and BioNTech filed an application with the European medicines agency to market their covid-19 vaccine for adolescents aged 12 to 15, the two companies announced Friday.

* Western Digital is up 5.2% in pre-market trading and could open at the highest since July 2018 after reporting better-than-expected quarterly results and guidance for the current quarter.

* KKR is selling the core brands of dietary supplement maker the bountiful company to nestle for $5.75 billion, the swiss food giant announced Friday.

* Colgate-Palmolive gained 2% in premarket trading after reporting better-than-expected quarterly results.

* Gilead Sciences reported lower-than-expected first-quarter sales Thursday, as declines in sales of its flagship hiv and hepatitis c drugs were only partially offset by growth in sales of remdesivir, its covid-19 treatment. The stock lost 2.1% in pre-market trading.

* Alibaba has decided to freeze the pay of its top executives in 2021 and give a boost to its lower-paid employees, sources said. The online retail giant is under close scrutiny from chinese regulators.

* Lazard reported q1 profit slightly below consensus as higher costs dampened the investment bank's strong performance on the m&a front. The stock is up nearly 1% in premarket trading.

* Phillips 66 reported a fifth consecutive quarterly loss on Friday, due in part to production disruptions caused by the cold snap that hit the U.S. In February.