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Here is what you need to know on Friday, May 21:

Equity markets look to end a frenetic week on a positive note as the Fed is wrestled into thinking about thinking about tapering, leading a big tech rally. Bitcoin is steady, what, yes you read that correctly. The crypto king (or is that Elon) holds the $40,000 level despite Deutsche saying it is gone from trendy to tacky.

Speaking of crypto, Tesla notches a nice bounce from near a strong support level on Thursday, racking up a 4% jump and sitting near key resistance at $591. Other big tech names also rally helping propel the major indices.

The dollar is calm just below 1.22 against the euro while Gold at $1,886 is up slightly. Oil is also moderately higher at $62.83.

European marekts are green with the FTSE flat, Dax +0.4% and EuroStoxx +0.6%.

US futures are all higher with the three main indices Dow, S&P and Nasdaq all 0.4% higher.

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Wall Street top news

Israel and Hamas ceasefire in effect.

Germany says current vaccines are significantly less successful against the Indian version. The UK had earlier said they were reasonably effective.

UK Manufacturing PMI 66.1 versus forecast 60.8.

TSLA raises prices of Model 3 and Model Y according to Electrek. Tesla cars are also banned from some Chinese government compounds-Reuters.

AAPL CEO Tim Cook to testify on Friday in an antitrust case by Epic Games, maker of Fortnite.

The US proposed global corporate tax rate of 15% is a floor and the actual rate could be higher.

BA  Boeing discussing plans to increase 737 Max jet output in 2022 -Reuters.

Fisker (FSR) to deliver new Pope mobil in 2022.

VF Corp (VFC) maker of North Face, Timberland, and Vans posts lower than expected EPS but revenue beats. Shares down sharply premarket.

Deere (DE) results are strong, beating estimates on EPS and revenue. Shares up in premarket by about 1%.

Palo Alto Networks (PANW) up in premarket after strong EPS and revenue.

Foot Locker (FL) strong beat on EPS, revenue also ahead.

Deckers (DECK) also strongly ahead on EPS.

JNJ: GAVI vaccine alliance group says it has agreed to buy 200 million doses of JNJ’s covid vaccine.

Uber and Lyft: California clean air regulator says 90% of journeys must be in electric vehicles by 2030.

Applied Materials (AMAT) EPS beats estimates as does revenue for the semi conductor maker.

Carnival (CCL) to resume Alaska cruises in July.

Oatly (OTLY) IPO’d at $17 now trading $21.66 in Fridays premarket.

Ups and Downs

Source: Benzinga

Premarket movers

Source: Benzinga

Economic releases due


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