Stock futures rises as Dow pushes for an 8-day winning streak: Live updates – CNBC

European markets opened higher on Friday as the UK’s first-quarter gross domestic product (GDP) came in better than expected, with strong momentum continuing into the end of the week.

As of 8:08 a.m. London time, the pan-European Stoxx 600 was up 0.52%. Britain’s FTSE 100 rose 0.41%, Germany’s DAX rose 0.39% and France’s CAC 40 rose 0.45%.

— Sophie Kiderin

Singapore’s second largest bank OCBC First quarter sales and profits hit record highsgross profit rose 8% year-on-year to S$3.63 billion ($2.68 billion), and net profit rose 5% year-on-year to S$1.98 billion.

Quarter-over-quarter, sales increased 11% and net income increased 22%. OCBC cited “solid performance across all divisions” and highlighted record banking profits, supported by growth in wealth management revenue and assets under management.

Separately, OCBC also provided S$1.4 billion to the following companies: Privatizes insurance subsidiary Great Eastern.

The company will buy the 11.56% stake in the insurance company it does not currently hold for S$25.60 per share, which represents a 36.9% premium over Great Eastern’s last trading price of S$18.70.

HSBC said it expects Xiaomi’s recently launched electric vehicle SU7 to break even sooner than previously expected.

The bank predicted that EV’s net profit would reach 685 million Chinese yuan ($94.8 million) by the end of 2026, compared with a prior forecast of about 810 million yuan by 2028.

HSBC is bullish on Xiaomi’s EV shipments over the next two years, citing Xiaomi’s order backlog as of April 30th of over 88,000 units, exceeding expectations, and deliveries being strong at over 7,000 units. It shows.

Chinese smartphone maker Xiaomi launched the SU7 EV ahead of this year’s Easter holidays.

— Shreyashi Sanyal

In the latest survey from the American Association of Individual Investors, the percentage of individual investors who are neutral about their outlook for stock prices over the next six months has increased from 29% to 35.4%, the highest since the previous survey. From September onwards, it exceeded the historical average of 31.5%.

Bullish responses rose from 38.5% to 40.8%, exceeding the historical average of 37.5% for the 26th time in the past 27 weeks.

Bearish sentiment fell to 23.8% of those surveyed, down from 32.5% last week and the historical average of 31%. This is the first time in four weeks that pessimism has been below the historical average.

Contrarians who like to bet against the crowd argue that rising bullishness means investors have less cash available in the market and less buying in front of the market than in the back. A bearish rally means the opposite, there is more money invested and more selling.

— Scott Schnipper

Let’s check out the companies that are becoming a hot topic for after-hours trading.

• Yelp — The restaurant review site’s stock fell 6% after Yelp downplayed its second-quarter earnings outlook. LSEG said the company’s first-quarter profit was 20 cents per share, beating analysts’ expectations of 6 cents per share. However, sales for the period were in line with expectations at $333 million.
• Sweetgreen — The salad chain soared 5% after Sweetgreen reported first-quarter revenue of $158 million, beating LSEG’s consensus estimate of $152 million. Revenues were not immediately comparable to estimates.
• Akamai Technologies — The cloud company fell nearly 9% on a weak outlook for the second quarter. Akamai expects adjusted earnings to be between $1.51 and $1.56 per share and revenue between $967 million and $986 million. Analysts polled by LSEG had expected earnings of $1.63 per share and revenue of $1 billion.

Read the full list here.

— Sarah Min

Stock futures opened little changed.

Futures tracking the Dow 30 rose 33 points, or 0.08%. S&P 500 futures rose 0.04%, and Nasdaq 100 futures rose 0.04%.

— Sarah Min