Information about Facebook stock shares is displayed on a monitor as traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) at the closing bell, November 19, 2018 in New York City.
Drew Angerer | Getty Images
This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.
What you need to know today
South Korea led gains
In Asia, South Korea markets led gains on Friday that tracked Wall Street’s rebound from the sell-off of the previous session. The Kospi advanced, while the small-cap Kosdaq also rose. The rest of the region mostly rose. Overnight, Wall Street closed on a positive note. The 30-stock Dow closed higher on a fresh record, which also wiped its losses from a day earlier. The S&P 500 added 1.25% and the tech-heavy Nasdaq also gained.
Meta, Amazon earnings beat
Facebook parent Meta shares surged on better-than-expected results and a first-ever dividend payment. The results showed the company’s online ad business continues to rebound from a brutal 2022. Amazon also gave an upbeat guidance for the first quarter as the company reported results that easily topped estimates.
Apple’s China woes
Apple reported fiscal first-quarter earnings that beat estimates for revenue and earnings. But it posted a 13% decline in sales in China, one of its key markets, which led to a slide in its stock in after-hours trading. Apple’s outlook also suggested weak iPhone sales.
Gold demand soars
Geopolitical tensions and a sluggish China economy drove demand for gold to record highs in 2023, the World Gold Council reported. Total gold demand was 4,899 tons last year compared with 4,741 tons in 2022, including over-the-counter transactions and stock flows.
[Pro] Top energy picks
Jevons Global’s Kingsley Jones told CNBC he sees potential in oil, despite geopolitical tensions and fluctuating oil prices impacting the sector. He picked his top energy stocks for the long and short term.
The bottom line
It was a wild day of earnings for Big Tech companies.
Three “Magnificent 7” results hogged the headlines: Meta, Amazon and Apple.
Wall Street seemed particularly impressed with Facebook parent Meta’s results.
Shares of Meta surged 15% after the social-media giant defied analysts’ estimates. It posted stellar earnings of $5.33 per share on revenue of $40.11 billion. The company also declared its first-ever dividend payment, pegged at 50 cents.
Investors also cheered Amazon’s earnings, which easily topped Wall Street’s expectations. The ecommerce giant also provided a strong outlook for the current quarter. The stock jumped 7% in extended trading.
“This Q4 was a record-breaking Holiday shopping season and closed out a robust 2023 for Amazon,” CEO Andy Jassy said in a statement. “As we enter 2024, our teams are delivering at a rapid clip, and we have a lot in front of us to be excited about.”
But Apple didn’t get the same treatment despite posting strong results.
It also exceeded estimates, reporting revenue growth for the first time in a year. But shares of the tech titan slid more than 2% in extending trading after it posted a 13% decline in sales in China. Apple’s outlook suggesting weak iPhones sales may have also disappointed investors.
Well, this wraps up earnings season for tech’s mega cap companies.
Investor’s focus will shift to another data point on Friday with the release of January’s U.S. jobs report, for clues on the strength of the labor market and the broader economy.
— CNBC’s Jonathan Vanian contributed to this report.