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DAILY MARKET OVERVIEW
Today's Top Market Headlines – Jul 7, 2017
Dollar index edges higher ahead of NFP report

The dollar edged higher against other major currencies on Friday, recovering from the previous session’s losses as investors highet the highly-anticipated U.S. employment report due later in the day for further indications on the strength of the job market.

The greenback weakened after payrolls processor ADP reported on Thursday that U.S. private employers added 158,000 jobs in June, well below economists’ expectations.

A separate report showed that initial jobless claims unexpectedly rose by 4,000 to 248,000 last week.

 

(Jul 07, 2017 02:19AM ET)

Source: http://bit.ly/2uxuz4D

Qualcomm accuses Apple of infringing six patents in iPhone, iPad

Chipmaker Qualcomm (NASDAQ:QCOM) Inc will ask the U.S. International Trade Commission to bar Apple Inc (NASDAQ:AAPL) from selling some iPhones and iPads in the United States that use chips made by competitor Intel Corp(NASDAQ:INTC) on the grounds that the devices infringe on six Qualcomm patents.

In a request that would broaden its legal battle with Apple, San Diego-based Qualcomm said it will ask the U.S. ITC to ban imports of the infringing Apple devices. A related lawsuit was filed in federal court in California on Thursday to request monetary damages.

 

By Diane Bartz and Stephen Nellis

(Jul 07, 2017 03:07)

Source: http://bit.ly/2tnRSzq

Strong rise in German industrial output signals solid second quarter growth

German industrial production rose more than expected in May, data showed on Friday, boosting expectations that factories will support growth in Europe’s biggest economy in the second quarter.

The surprisingly bullish figures are the latest in a batch of strong data that are likely to help Chancellor Angela Merkel and her conservatives burnish their economic credentials before a Sept. 24 federal election in which she will seek a fourth term.

Industrial output jumped by 1.2 percent on the month in May, data from the Economy Ministry showed. That was the fifth consecutive monthly increase and easily beat the consensus forecast in a Reuters poll for a 0.3 percent gain.

By Michael Nienaber

(Jul 07, 2017 03:31AM ET)

Source: http://bit.ly/2swsLHQ

Samsung Electronics tips record second-quarter profit as memory prices surge

Samsung Electronics Co Ltd (KS:005930) on Friday said its second-quarter operating profit likely rose 72 percent from a year earlier to a new record, beating analyst estimates, as strong memory chip prices helped widen margins.

The Apple Inc (O:AAPL) smartphone rival and global memory chip leader said second-quarter operating profit was likely 14 trillion won ($12.11 billion), compared with the 13.1 trillion won average of 19 analyst estimates in a Thomson Reuters poll.

Revenue likely rose 18 percent from a year earlier to 60 trillion won, versus analysts’ forecast of 59 trillion won.

Samsung shares are trading at a near-record high of 2.4 million won as of Thursday, as investors look forward to record earnings in 2017 driven by growing demand for chips capable of powering ever more complex servers and smartphones.

By Joyce Lee

(Jul 06, 2017 10:18PM ET)

Source: http://bit.ly/2uxvFxa