► The Stoxx 600 trades slightly positive up by 0.1%. Yesterday's Apple earnings, weighed on sentiment and brought back concerns about slowing revenue growth and uncertain China sales. European stocks benefit from yesterday's very positive session – in particular in New York but already lost much of yesterday's after hours gains.
► We saw an impressive performance from BMW, who saw a 3.4% Y/Y increase in revenue, thanks to robust sales in electric vehicles boosting profit margins. A.P. Moller-Maersk saw it's shares tumble over 7% after announcing a major job cut to maintain profitability. Yesterday, the Bank of England maintained interest rates, aligning with the global central bank stance. Investors await important job data to be released later today (NFP).
► US equity futures dipped, with the Nasdaq down 0.35%. We also see a -3.4% pre-market decline with Apple after releasing it's earnings report yesterday. Apple marginally exceeded low expectations with its latest earnings, thanks to strong performance in services. iPhone sales came in line with (low expectations) and Mac sales disappointing. Overall, Apple's revenue stagnates and there are growing concerns over slowing China revenue growth. The outlook is cautious with expected slight losses, although the robust services sector offers a promising long-term perspective amid broader comparisons to more rapidly growing big tech companies. Most analysts were very optimistic about Apple beforehand – our chief analyst Robert Lindner, on the other hand, expected slow revenue growth, unimpressive iPhone sales and growing concerns about China – congratulations to him and the community – a perfect prediction.
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