Asian equity markets rose tonight for the sixth consecutive trading session, helped by better than expected earnings from JP Morgan and Google. However, U.S. futures are currently trading mixed.
JP Morgan reported 40 cents per share profit in Q1, beating analysts’ estimates of $0.32. Additionally, the bank’s fixed-income trading revenue rose to a record in the first quarter, being the second bank to report such a thing after Goldman. JP Morgan results helped the U.S. futures take off during the pre-session, erasing earlier declines.
After the market closed, U.S. futures advanced as Google reported an 8.9% increase in revenue first quarter. The search giant beat analysts’ estimations, reporting a $5.16 earnings per share, compared with the $4.95 forecast. However, futures retraced during the press conference, as investors sensed the downbeat tone.
The main gainer during the Asian trading session was the financial sector; after all of the major U.S. bank's reports have beaten analysts’ estimates. Car-manufacturers also gained, as GM’s final pre-bankruptcy days are approaching it seems. Analysts say that the economy might recover.
Overnight, the Nikkei rose 194.29 points (2.22%) to 8,949.55. The Australian S&P/Asx rose 62.00 points (1.64%) to 3,837.70.
Crude oil for May delivery was recently trading at $49.90 per barrel, down by $0.10.
Gold for May delivery was recently trading down by $5.10 to $874.70.