Earnings galore; Spotify announcement; Wells Fargo anger

1. Earnings season in full swing: There's a deluge of corporate earnings reports on Tuesday.B...

Posted: Apr 24, 2018 12:52 PM
Updated: Apr 24, 2018 12:52 PM

1. Earnings season in full swing: There's a deluge of corporate earnings reports on Tuesday.

Before the bell, investors will hear from 3M, Caterpillar, Coca-Cola, Eli Lilly, Harley-Davidson, JetBlue Airways, Lockheed Martin, Restaurant Brands International, Sherwin-Williams and Verizon.

Then Capital One, iRobot, Six Flags, Texas Instruments and Wynn Resorts will report after the close.

Two big trends to watch relate to US tariffs and taxes.

Investors are watching for what companies have to say about President Donald Trump's steel and aluminum tariffs and how they could affect their bottom lines. They could also discuss the corporate tax cut enacted late last year.

2. Spotlight on Spotify: Music-streaming service Spotify, which recently went public, is expected to make a big announcement at 9 a.m. ET.

Experts have suggested it could unveil its first hardware device; possibly a music player for the car.

3. Questions for Wells Fargo: The embattled bank is hosting its annual meeting starting at 11 a.m.

Angry shareholders and activists are expected to call on Wells Fargo to change its ways.

Critics point to a string of scandals - millions of fake accounts, unwanted auto insurance and needless mortgage fees - as proof that Wells Fargo needs to be broken up and CEO Tim Sloan should be ousted.

The meeting comes days after the bank was hit with a $1 billion fine for auto lending and mortgage abuses.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

4. Economics: French President Emmanuel Macron has landed in Washington, where he will meet with Trump and attend a state dinner on Tuesday. Trade, tariffs, and Iran are on Macron's agenda.

Europeans are counting on Macron to persuade Trump to change course on his plans for US tariffs on steel and aluminum imports from the European Union, which are set to take effect on May 1.

The US Conference Board will release its latest consumer confidence index for April at 10 a.m. The Census Bureau releases new home sales data from March at the same time.

The monthly S&P Case-Shiller home price index is out at 9 a.m.

5. Global market overview: US stock futures pointed to small gains at the open.

European markets were mixed in early trading. Most Asian markets ended with positive results, with two key indexes in China surging by about 2%.

Crude oil prices increased to trade around $69 per barrel.

Yields on 10-year US Treasuries pulled back to 2.96%. Yields have been flirting with 3%, a level that hasn't been reached in more than four years.

The Dow Jones industrial average dropped 0.1% on Monday, the S&P 500 was flat and the Nasdaq dipped 0.3%.

Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now!

6. Coming this week:
Tuesday - Caterpillar, Coca-Cola, JetBlue and Verizon earnings; US Conference Board releases monthly consumer confidence index
Wednesday - AT&T, Boeing, Chipotle, Comcast, Dr Pepper Snapple, Facebook and Twitter earnings
Thursday - Time Warner, Amazon, American Airlines, General Motors, PepsiCo, Starbucks and Southwest Air earnings
Friday - Exxon Mobil earnings; US releases Q1 GDP

Huntsville
Few Clouds
72° wxIcon
Hi: 90° Lo: 67°
Feels Like: 72°
Florence
Overcast
70° wxIcon
Hi: 88° Lo: 68°
Feels Like: 70°
Fayetteville
Clear
70° wxIcon
Hi: 89° Lo: 65°
Feels Like: 70°
Decatur
Broken Clouds
71° wxIcon
Hi: 88° Lo: 66°
Feels Like: 71°
Scottsboro
Overcast
70° wxIcon
Hi: 89° Lo: 68°
Feels Like: 70°
WAAY Radar
WAAY WAAY-TV Cam
WAAY Temperatures

Alabama Coronavirus Cases

Confirmed Cases: 89927

Reported Deaths: 1580
CountyConfirmedDeaths
Jefferson11650225
Mobile8998191
Montgomery6198143
Madison493225
Tuscaloosa391263
Baldwin317522
Shelby300232
Marshall294730
Unassigned263351
Lee249140
Morgan220615
Etowah191425
DeKalb167713
Elmore158437
Calhoun15359
Walker145763
Houston130912
Dallas128023
Russell12201
Franklin118420
Limestone118313
St. Clair118212
Cullman111311
Colbert107612
Lauderdale105312
Autauga101020
Escambia96515
Talladega89013
Jackson8163
Chambers81438
Tallapoosa80478
Dale77619
Butler75135
Blount7223
Covington70420
Coffee7035
Chilton6976
Pike6547
Barbour5625
Lowndes54624
Marion53524
Marengo51514
Clarke4849
Hale44925
Bullock43711
Perry4284
Winston42811
Wilcox4029
Monroe3884
Randolph38810
Conecuh37110
Bibb3643
Pickens3639
Sumter36118
Washington31011
Macon30813
Lawrence3060
Crenshaw2843
Choctaw27312
Henry2433
Greene24011
Cherokee2337
Geneva2260
Clay2165
Lamar1942
Fayette1695
Cleburne1141
Coosa902
Out of AL00

Tennessee Coronavirus Cases

Confirmed Cases: 109627

Reported Deaths: 1073
CountyConfirmedDeaths
Shelby21296285
Davidson19320199
Rutherford604251
Hamilton562147
Knox392634
Williamson323022
Sumner316069
Unassigned29244
Out of TN282312
Wilson206420
Montgomery171111
Bradley170510
Sevier17025
Trousdale15726
Putnam154713
Robertson143216
Hamblen121713
Tipton11049
Blount10987
Maury10665
Washington10382
Madison88912
Bedford86210
Macon83413
Hardeman79411
Sullivan7809
Lake7440
Bledsoe6681
Loudon6493
Fayette6178
Anderson5995
Dickson5871
Gibson5582
Cheatham5445
Dyer5427
Rhea4971
Jefferson4892
McMinn47920
Lawrence4746
Obion4274
Henderson4260
Carter4245
Lauderdale4216
Coffee4112
Warren4004
Hardin3987
Cocke3911
Cumberland3756
Greene3695
Haywood3695
Smith3613
Monroe3569
Roane3561
Giles3449
Hawkins3244
McNairy3105
DeKalb3041
Franklin2854
Marshall2632
Weakley2603
Lincoln2511
Carroll2263
Hickman2260
Crockett2233
Wayne2141
Claiborne2120
Henry2110
Campbell2071
Marion2064
Chester1921
White1913
Grainger1680
Polk1661
Johnson1600
Decatur1591
Unicoi1360
Overton1341
Union1180
Cannon1170
Jackson1071
Grundy1012
Humphreys1013
Scott1010
Meigs960
Sequatchie940
Benton921
Morgan791
Fentress740
Hancock741
Perry740
Stewart700
Clay620
Lewis561
Houston550
Moore420
Van Buren320
Pickett221

 

 

Community Events