“U.S. Stocks Open Higher on Strong Apple Earnings and Jobs Report, Gold Near 2000 Mark”

Investing.com – U.S. stocks opened higher on Friday, as upbeat Apple results confirmed resilience in corporate earnings, while a strong jobs report dampened expectations for a cut.

And it declined strongly after the issuance of surprising employment data, as the numbers came this time stronger than expected, so that the dollar turned to rise after it was bearish, as the data indicates the strength of the economy, which motivates the Federal Reserve to maintain its tight monetary policy for the coming period, especially since the strength of the labor market and the rise in wages They support keeping inflation at high levels.

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Apple earnings

Apple announced Thursday that it beat Wall Street expectations, driven by iPhone sales that also beat expectations. The company’s chief executive, Tim Cook, said the quarter was “better than we expected”.

However, Apple’s total sales () fell for the second consecutive quarter.

And “Apple” reported that its sales for the second quarter of the fiscal year ending April 1 fell 2.5% to $94.84 billion, exceeding analysts’ expectations for a 4.4% decrease to $93 billion, according to Refinitiv data. Earnings were flat at $1.52 per share, compared to estimates for a 5.7% decline to $1.43 per share, according to Refinitiv data.

The stock is now rising on the impact of this news by 4.6% to $137.4.

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For the month of April, while experts expected an addition of 180 thousand, while the previous reading was revised to record 165 instead of 236 thousand.

While 230 thousand jobs were added in April, and expectations indicated an addition of 160 thousand, while the March reading was revised to record 123 thousand instead of 189 thousand.

On the other hand, it increased by 3.4% in April. While expectations were for an increase of 3.6%, while the rate rose by 3.5%, compared to the previous reading.

It rose by 0.5% in April, while it had been expected to rise by 0.3% as the previous reading. As for Ali, it rose by 4.4%, while experts expected it to rise by 4.2%. However, the March reading was 4.3%.

Expensive investment advice

The strategist of the bank, “JP Morgan Chase & Co. (NYSE:)” said that investors are likely to prefer gold and technology stocks in the coming period, as these bets are expected to provide a safe haven from the possibility of a recession in the United States this year.

“The US banking crisis has increased demand for gold as an alternative to low real interest rates, as well as a way to hedge against catastrophic crisis-related scenarios,” strategists including Nikolaos Panijrtzoglou and Mika Enkinen wrote in a note.

The bank notes that long-term investing has become attractive in recent months. It would have a limited downside in a moderate recession scenario in the US, but the downside could deepen in a deeper recession.

“The share of technology in global stocks has risen sharply this year, approaching its highest levels in 2021, which means that investors are interested in this sector,” the note added.

Pointers now

It rose 1.3 percent to 33,570.43 points.

It rose by 1.4 percent, to 4,117.63 points.

While the compound jumped by 1.45 percent to 12136.54 points.

markets now

It fell by 2.5% at $1,999 an ounce.

While US gold futures fell 2.3% to 2007 dollars.

While it rose at 101.33 points.

It rose 4.2% to $75.6 a barrel.

Texas crude jumped 4.6% to $71.7 a barrel.