Good morning. Here’s what you need to know.
- Asian indices rose in overnight trading, with the Nikkei up 0.82%. Major European indices are in the green and U.S. markets have opened positive.
- Global markets are rallying with Shanghai and India both up 0.67%. The euro has continued its rise, and has now broken $1.46. Silver is about to break $46 and oil futures are above $112. Don’t miss: Niall Ferguson’s presentation on the decline of the west >
- Apple reported Q2 revenue of $24.67 billion, beating expectations. The company had a net income of $5.99 billion and earnings of $6.40 per share for the period. Revenue was boosted by sales of the iPhone while iPad sales fell short of projections. Don’t miss: The 10 dumbest thing Steve Jobs has ever done >
- Both GE and DuPont also reported strong earnings. GE was boosted by industrial growth, with the company reporting GAAP earnings of $3.4 billion, or $0.31 a share. DuPont reported Q1 2011 earnings of $1.43 billion, or $1.52 per share despite a a decline in pharmaceuticals earnings.
- BP has filed a $40 billion lawsuit against Transocean in a New Orleans federal court and has accused the company of negligence. Transocean meanwhile has called the lawsuit a “desperate bid” by BP to avoid assuming full responsibility for the disaster. Now here are pictures of the gulf oil spill a year on >
- UK retail sales figures for March surprised to the upside, with 0.2% growth. The expectation was for a 0.5% decline. Don’t miss: The most unequal countries in the developed world >
- German business confidence has weakened. Conditions for April look strong, but new data shows a weakening outlook over the next 6-months, with a drop in score from 106.5 to 104.7 Check out the 17 countries facing an economy crushing demographic crisis >
- The Philadelphia Fed Survey will be released at 10 AM ET. Consensus is for a drop to 36 reading for April. Follow the release at Money Game >
- The Federal Reserve will have its board meeting next week and is expected to announce the end of QE. Expectations are that the Fed will focus on raising rates and checking inflation next. Don’t miss: Richard Koo’s blistering presentation on why QE2 has failed >
- BONUS: Naomi Watts was spotted holidaying in Barbados with husband Liev Schreiber and their two sons.
Business Insider Emails & Alerts
Site highlights each day to your inbox.