EUR/USD
1.17319
0.011%
Gold
4632.28
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102.533
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1.36061
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Real-time News
May 1 – Brazils state-owned oil and gas company, Petrobras, reported record oil and gas production in the first quarter, with its refineries operating near full capacity. This underscores Brazils growing importance in the global energy market amid the impact of the Iran-Iraq conflict. Petrobras stated that oil and gas production increased by 16% year-on-year, reaching 3.23 million barrels of oil equivalent per day. Its refinery capacity utilization rate reached its highest monthly level since 2014 in March, currently standing at 95%, reducing the need for fuel imports. The increased production and refining capacity of Petrobras will help the country cope with the economic impact of the conflict in the Middle East. The companys management has been working with the government to control rising fuel prices and ensure stable supply.May 1st - Despite Apple (AAPL.O) stating it expects continued chip supply constraints, its quarterly revenue guidance exceeded expectations, driving its stock price up in after-hours trading. Apples CFO stated that the company expects third-quarter revenue to grow 14% to 17% year-over-year, higher than Wall Streets expectation of 9.5%. Apple is no longer committed to bringing its net cash (cash minus debt) to zero. Apple set this goal in 2018, but at the end of its first fiscal quarter in January of this year, its net cash was still $54 billion.May 1st - Apple (AAPL.O) CEO Tim Cook stated that demand for the companys new entry-level MacBook Neo laptop is extremely strong, and its pricing is lower than some analysts expectations. "The customer response to the Mac Neo has been extremely enthusiastic," Cook said in a conference call with analysts. Cook said the company was optimistic about the products prospects before its release but underestimated the level of enthusiasm it would generate, leading to supply constraints. Cook said the model helped Apple set a record for the number of new customers for its MacBook product line in the second fiscal quarter.Apple (AAPL.O) CFO: The company is applying for tariff refunds "through normal procedures" and will reinvest any recovered amounts in its advanced manufacturing projects in the United States.On May 1st, according to the Wall Street Journal, MetaPlatforms CEO Mark Zuckerberg provided new details about the companys aggressive AI plans and addressed the markets negative reaction to its first-quarter results at a company-wide meeting on Thursday. Zuckerberg attributed the 8% drop in Metas stock price to investor concerns about upward revisions to its expected capital expenditures and the companys forecast of slower growth in the second quarter. Zuckerberg said that Metas advertising business experienced a "trajectory shift" after the US-Iran conflict in late February. He said, "If oil prices rise, then consumers will spend more money on oil and gasoline, and less on non-essential items, which are typically targeted for advertising." Zuckerberg attributed the companys planned layoffs next month to the need to invest more in data centers and other AI infrastructure. He said, "The company basically has two cost centers. One is computing and infrastructure, and the other is people. If we invest more in one area to serve our community, it means we have less capital to allocate to the other area. So it means we really need to scale back the company a bit."
