Apple disappoints; US jobs report; Trump talks China trade



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The tech firm said Thursday it expects fourth quarter sales of between $ 89 billion and $ 93 billion, not much more than the record $ 88.3 billion it reported a year ago.

Apple 's third quarter earnings report is a lot of surprises: It says it will stop reporting many iPhones, iPads and Macs it sells each quarter.

That could be because of Apple's flagship device have flattened. The company sold 46.9 million iPhones during the third quarter, virtually unchanged from a year ago.

The disappointing news: It's in danger of losing its status to the trillion-dollar company when trading opens in New York.

2. US jobs report: The Bureau of Labor Statistics will release the October jobs report at 8:30 am ET.

Analysts expect the report to show the labor market has maintained its strong momentum.

Economists polled by Refinitiv estimate that the US economy added 190,000 new jobs in October, despite continued disruption from hurricanes.

President Donald Trump's economic message is going into the midterm election, after a month of market turmoil that has mostly erased Wall Street's gains for the year.

The US economy added 134,000 jobs in September and the unemployment rate fell to 3.7%, the lowest level since December 1969.

3. China deal? Stock markets around the world in the United States and China.

The biggest rises were in Asia. Hong Kong's Hang Seng Index China's Shanghai Composite and Japan's Nikkei both jumped about 2.5%.

The positive momentum started after Trump on Thursday talked about the prospects of a business deal with the Chinese leader Xi Jinping by phone.

Amid the moody, China's beaten down currency, the yuan, rose about 0.4% against the dollar. Major European markets gained around 1% in early trading, and US stock futures were up nearly 1%.
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4. Earnings and economics: Alibaba (BABA), Chevron (CVX), Cinemark (CNK), Exxon Mobil (XOM), Newell Brands (NWL) and US Cellular (USM) will be released.

US oil futures dropped around 0.5% after Bloomberg reported the Trump administration has agreed to continue to buy Iranian oil even after sanctions kick in next week.

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5. Coming this week:

Friday Chevron (CVX), Exxon (XOM), Newell Brands (NWL), MSG Networks (MSGN), and Seagate Technology (STX) earnings; US jobs report
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