- Reuters/Hannah McKay
Here is what you need to know.
It’s jobs day in America. The US economy is expected to have added 180,000 nonfarm jobs in January as the unemployment rate held at 4.1%, according to economists surveyed by Bloomberg. Additionally, average hourly wages are expected to have climbed 2.6% year-over-year.
Stocks are under pressure. The Dow Jones industrial average is set to open down more than 200 points after heavy selling in both Asia and Europe.
Cryptocurrencies are getting crushed. The five biggest cryptocurrencies by market cap trade down by 10% to 20% on Friday, with the total universe seeing more than $100 billion wiped out in the past 24 hours.
Amazon crushes estimates. The e-commerce giant earned $3.75 a share on revenue of $60.5 billion, boosted by a windfall of $789 million – or $1.59 a share – related to the new tax law.
Apple iPhone sales miss, but the average price jumped. The company sold 77.3 million iPhones, down slightly from a year ago, but the average price jumped more than $100 to $796.
Google parent Alphabet misses earnings targets. The search giant beat on revenue but missed on earnings as the new tax law caused a one-time $9.9 billion expense.
Deutsche Bank posts a 3rd straight annual loss. CEO John Cryan cited a “challenging market” as a reason for his bank’s full-year loss of 497 million euros, or $621 million.
Airbnb won’t go public this year. “We’re working on getting ready to go public and we will make decisions about going public on our own timetable,” CEO Brian Chesky said in a statement.
Earnings reports keep coming. Charter Communications, Chevron, and ExxonMobil are among the names reporting ahead of the opening bell.
US economic data flows. University of Michigan consumer confidence, factory orders, and durable-goods orders will all be released at 10 a.m. ET.