Here is what you need to know.
- The jobs report is coming. The US economy is expected to have added 190,000 nonfarm jobs in April with the unemployment rate holding at 3.8%, according to economists surveyed by Bloomberg.
- Berkshire Hathaway is buying up Amazon shares. The shares were purchased by “one of the fellows in the office that manage money,” Berkshire Hathaway’s chairman and CEO, Warren Buffett, told CNBC’s Becky Quick.
- Facebook is working on a secret cryptocurrency network. “Project Libra” is the code name for the social-media network’s secret initiative to build a cryptocurrency-based payments platform in which users can transfer and spend digital currency on Facebook and other websites, The Wall Street Journal reports.
- Beyond Meat soars in its stock-market debut.Shares of the plant-based meat-substitute maker soared 163% in their stock-market debut on Thursday.
- Elon Musk personally owes Wall Street banks hundreds of millions of dollars. Tesla’s CEO personally owes Wall Street lenders $US507 million, down $US117 million from the amount listed in Tesla’s previous prospectus from 2017, Reuters says.
- Top investors and economists dispelled 3 key misconceptions at the Milken Conference. Some of the biggest names in investing and economics pushed back against the beliefs that a recession was imminent, that the Federal Reserve’s next move would be a rate cut, and that inflation would stay low on a permanent basis.
- Berkshire Hathaway’s annual meeting is coming.Buffett and Berkshire Hathaway’s vice chairman, Charlie Munger, are scheduled to answer questions from investors on Saturday in Omaha, Nebraska. Here are 12 predictions Buffett has made over the years and how they turned out.
- Stock markets around the world are higher. Hong Kong’s Hang Seng (+0.46%) led the gains in Asia, and Britain’s FTSE (+0.78%) is out front in Europe. The S&P 500 is set to open up 0.24% near 2,925.
- Earnings reporting slows down. American Tower and Fiat Chrysler report ahead of the opening bell.
- US economic data flows. Aside from the jobs report, Markit Services PMI and ISM Non-Manufacturing will be released at 9:45 a.m. ET and 10 a.m. ET respectively. The US 10-year yield is up 1.6 basis points at 2.56%.
Business Insider Emails & Alerts
Site highlights each day to your inbox.