Global stocks traded mixed on the last trading day of the month, with losses in Asia after China warned major technology companies over their fintech units, and a batch of mixed data. U.S. stock futures slipped as
wowed with results, but
disappointed.
The
and Hong Kong’s
fell by 0.8% and 1.9%, respectively on Friday. Shares of
and
fell after regulators in China said they had summoned companies with online finance services and ordered them to beef up antimonopoly measures. Meanwhile, Chinese lenders such as
fell, as analysts said growth seemed muted.
Chinese manufacturing and nonmanufacturing purchasing managers indexes showed expansion in April, but well short of expectations, as global chip shortages weighed on manufacturers. A separate private gauge showed activity among smaller manufacturers picking up to its highest monthly level this year. China’s five-day Labor Day holiday begins on Saturday.
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Elsewhere, the eurozone economy entered its second technical recession in a year as growth domestic product fell by 0.6% in the first quarter. The
was up just 0.1%, as investors also weighed up a fresh batch of earnings.
A day earlier, the U.S. recorded a 6.4% gain in first-quarter growth. March personal income and spending data are ahead, as well as April consumer sentiment data from the University of Michigan.
The
finished at a new high on Thursday, boosted by strong results from tech giants
and
and telecom
Stock futures were slipping on Friday, led by Nasdaq-100 futures, down 0.5%, as
shares plunged 11% in premarket trading, after disappointing guidance from the social-media company.
Shares of
rose 2% ahead of Wall Street’s open, after the e-commerce giant reported a blockbuster first quarter and said it sees further growth ahead.
Shares of
were climbing as well, after better-than-expected financial results for the disk drive and flash memory company’s fiscal third quarter.
Friday’s earnings lineup includes energy giants
and
along with consumer-staples groups
and
Elsewhere, shares of
climbed 3.7%, after reporting rising revenue and profits in a first quarter that was boosted by sales of its cancer drug. The U.K. drug company said it generated $275 million in sales from the Covid-19 vaccine it has developed with the University of Oxford.