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• Q1 revenue $10.54B vs $10.51B expected
• Q1 EPS $6.61 vs $5.71 exp
• Reiterates revenue forecast of $43.5-$44.5B
• Sees Q2 EPS $7.03

Shares are trading at $981 compared to $975 at the close but it’s been choppy.

The call is at 4:45 pm ET.

This article was written by Adam Button at www.forexlive.com.

US stock markets looked good 90 minutes ago but it’s all fallen apart. The S&P 500 is poised to close flat and the Nasdaq is down around 0.3%. The DJIA is down 1.2% because of the 22% implosion of United Health following a cut in guidance.

It’s a long weekend so markets won’t reopen until Monday in the US.

Netflix reports after the bell. Analysts surveyed by LSEG expect earnings per share of $5.71 and revenue of $10.51 billion.

This article was written by Adam Button at www.forexlive.com.

The worst-case scenario for the US economy at the moment — and this is something Powell hinted at yesterday — is a covid-style halt in trade. We don’t have to look back to far to see how that might play out as it led to shortages and inflation. It also might have led to widespread economic problems if not for massive financial and monetary stimulus (that isn’t likely to come this time).

Here is Craig Fuller the founder of FreightWaves:

Trucking market conditions are soft, but with imports and exports collapsing, the industry is in for a very rough season in coming months.

The winds are picking up, but the hurricane is still offshore.

Here is Ryan Peterson Founder and CEO of Flexport:

Two of our American customers devastated by the tariffs gave up and sold themselves to their Chinese factories in the last week.

He has also warned that thousands, and then millions, of American small businesses, including many iconic brands, will go bankrupt this year if the tariff policies on China don’t change.

Earlier this week I highlighted the crash in forward freight bookings.

This article was written by Adam Button at www.forexlive.com.