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April jobs report, Apple earnings, Lyft’s gloomy outlook: 3 things to know

Yahoo Finance Live’s Julie Hyman summarizes three key topics to watch for this morning, including the April jobs report and the latest news involving Apple and Lyft.

Video transcript

JULIE HYMAN: Let's get right to the three things you need to know. First thing you need to know, of course, 253,000 jobs were added to the economy last month with the unemployment rate coming in ahead of expectations, better than expected at 3.4%. This unexpected rebound comes after growth in March marked the lowest monthly gain since 2020.

Second thing you need to know, Apple managed to beat expectations in the second quarter despite macroeconomic headwinds and trouble in the PC market. The tech giant's overall revenue dropped 3%, marking a second quarter of declining sales, but a surprise growth in its iPhone business helped drive momentum along with its strong services unit. On the earnings call, Apple CEO Tim Cook spotlighted growth in India as the company continues to invest heavily in emerging markets and that one in particular.

Third thing you need to know, Lyft beat on earnings in the first quarter, but its gloomy outlook overshadowed investor sentiment. The company's second-quarter revenue forecast came in well below what the Street was expecting, which sent the shares plunging, and they're still falling this morning. The stock's been on a downturn in the past year as the company looks to steal back market share from rival Uber, which continues to eat into Lyft's customer base.