Stock market today: Apple shares up pre-market, investors await jobs data

Global markets were up Friday, and U.S. stock futures rose ahead of the release of the March jobs report.

The Dow Jones and S&P 500 each climbed nearly a percent, while the Nasdaq rose 1.5 percent, driven by tech and tech-adjacent stock gains.

Online used-car retailer Carvana and chip manufacturer Qualcomm were among the notable winners in Thursday’s trading, up by 34 percent and 10 percent respectively.

Apple shares were up nearly six percent in pre-market trading Friday after the iPhone maker announced better-than-expected quarterly results after the bell Thursday.

The tech giant saw sales and profits fall in the most recent quarter but not nearly by as much as analysts expected. Apple also revealed it would be initiating a $110 billion stock buyback scheme, reportedly the largest in the company’s history, and forecast increased revenue later in the year.

In a press release accompanying the quarterly results, CEO Tim Cook said: “As always, we are focused on providing the very best products and services for our customers, and doing so while living up to the core values that drive us.”

Apple’s CFO, Luca Maestri said: “our active installed base of devices has reached a new all-time high across all products and all geographic segments, and our business performance drove a new [earnings per share] record for the March quarter.”

The Hershey Company, one of America’s largest confectionary companies, is set to publish earning for the 2024 first quarter before markets open today.

Hershey’s long list of brands includes the popular Reese’s. The company is also licensed to produce other well-known chocolate products in the U.S., such as Nestlé’s KitKat bar and Rolo candies, and various Cadbury products.

Investors will also be keenly watching for jobs and unemployment scheduled to be published today, to gauge the health of the U.S. economy.

Looking forward, Warren Buffett’s multinational conglomerate Berkshire Hathaway is expected to publish earnings over the weekend, with reports being made available on Saturday, 7:00am ET.

There are multiple auto and transport related stocks for investors to track on the road ahead. Ferrari, Toyota, Uber and Honda are all set to release their quarterly earnings reports next week.

Next week also promises results from some big-name entertainment companies.

Earnings Highlights To Watch Next Week

• Monday: Palantir, Minute Maid and Slush Puppy parent J&J Snack Foods, Tyson Foods, electric-vehicle maker Lucid
• Tuesday: Disney, Ferrari, Electronic Arts Inc., Telefonica, energy giant BP
• Wednesday: Toyota, Uber, Airbnb, Shopify
• Thursday: Honda, ING, Warner Bros. Discovery, Warner Music Group
• Friday: Canadian energy multinational Enbridge, Soho House