Indices down, VIX up
Europe indices were poised to open lower in the wake of US and APAC sessions.
Europe indices
Europe indices were poised to open lower in the wake of US and APAC sessions. The market was waiting for the Eurozone's unemployment rate, expected to remain at 6.5% in April, and a series of US indicators, including the second reading of US gross domestic product (GDP) in Q1.
HP
HP shares were very volatile after the US closing bell on Thursday. The stock rose as much as 6.7% when the PC market published its quarterly earnings but pared most of its gains. It ended up at 1% on the IG platform. Earnings were broadly in line with expectations at 81 cents. Revenue reached $12.8 billion, above analysts' average estimate of $12.59 billion. For the second quarter, HP anticipates earnings and revenue in line with analysts' forecasts.
Best Buy
A fairly busy day ahead in terms of earnings in the US. Firstly, Best Buy is all-session stock on the IG platform. Analysts expect earnings of $1.08 per share to be compared with $1.15 in the same quarter a year ago. Revenue is also expected to decline to $8.97 billion from $9.47 billion a year ago. Other retailers are due to report today: Costco Wholesale, Dollar General, and Gap. Outside the retail sector, Dell Technologies is due to report tonight after the US closing bell. The street anticipates earnings of $1.25 per share on revenue of $21.65 billion.
Crude oil
On Wednesday evening, API inventories showed a fall of 6.5 million barrels in crude oil stocks last week. Gasoline inventories also fell by 450,000 barrels. Distillates rose by 2 million barrels. EIA inventories will be published at 3.30 p.m. on Thursday afternoon.
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