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Live news updates from August 3: Apple services arm surpasses 1bn users, BoE raises


Donald Trump: The former president is scheduled to make an initial appearance in federal court in Washington following his indictment on Tuesday on four criminal counts related to his attempts to overturn the results of the 2020 election. The charges, which constitute the second federal indictment brought against Trump by special counsel Jack Smith, include conspiracy to defraud the US, obstructing an official proceeding and threatening individual rights.

Apple: The iPhone maker will report earnings after the bell. Investors will listen for guidance on its artificial intelligence plans after Apple was forced to make drastic cuts to production forecasts for its mixed-reality Vision Pro headset. Analysts expect Apple to have earned $1.20 a share on revenue of $81.7bn in the three months to June, level with the $1.20 a share on revenue of $83bn during the same period in 2022. 

Other earnings: ConocoPhillips, Moderna, Warner Bros Discovery, Kellogg, Expedia and Hasbro will report quarterly results before the market opens. Amazon, Airbnb, Coinbase and Yelp will report after the market closes.

Economic data: Economists anticipate initial US state unemployment claims, a proxy for lay-offs, to have ticked up to 226,000 last week after falling to a five-month low of 221,000. Separately, prices paid by businesses for services are expected to have fallen, with economists forecasting the July ISM services purchasing managers’ index reading at 53, down from 53.9 in June.



Read Nore:Live news updates from August 3: Apple services arm surpasses 1bn users, BoE raises