US EQUITY OPEN: Apple leads tech higher after a deluge of earnings into weekend geopols

US EQUITY OPEN: US indices opened the final session of the week mostly firmer, although the Russell 2000 is in the red as earnings conclude for the week and focus remains on Middle East updates. Risk-on trade was seen amid reports Tehran submitted a new proposal yesterday, but a source "added nuclear negotiations will not succeed under these circumstances, and it is likely that the focus will be on ending the war." Among Fed dissenters, Hammack and Kashkari both gave their views, while Logan and Miran are still due to speak. Sectors are mixed, with Technology outperforming, buoyed by Apple (+4.3%) after earnings. Performance against the Dollar is mixed, with EUR, CAD and GBP eking out slight gains, while NZD is the relative underperformer, albeit with only modest losses. The Yen is flat despite dropping to 155.49 in earlier trade. WTI is lower by around USD 3/bbl and Brent by USD 1.50/bbl as attention remains on geopolitics into the weekend. Treasuries are marginally lower, while precious metals are mixed. Spot gold is down, while silver is up.

STOCK SPECIFICS:

• Apple (AAPL): Reported an earnings and revenue beat, driven by strong iPhone and services sales, better-than-expected China revenue, upbeat revenue guidance, and signs the company is managing through higher memory costs and supply constraints.
• Roblox (RBLX): Q1 rev. & user numbers missed.
• Reddit (RDDT): Adj. EPS & rev. beat; Q2 guidance topped.
• Atlassian (TEAM): Q3 earnings beat.
• Western Digital (WDC), Sandisk (SNDK): Beat on earnings, revenue and guidance.
• Twilio (TWLO): Earnings beat and lifted FY guidance.
• Atlassian (TEAM): Q3 earnings beat.
• Estee Lauder (EL): EPS, rev. and guidance topped.
• Chevron (CVX), Exxon Mobil (XOM): Recent drop in oil offsets earnings beats.