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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.

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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%.

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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

Mississippi Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 68293

Reported Deaths: 1944
CountyConfirmedDeaths
Hinds5656118
DeSoto368031
Harrison253036
Madison244368
Rankin229235
Jackson228843
Jones191659
Forrest182056
Washington168942
Lee147941
Lauderdale141192
Neshoba128692
Lamar122614
Oktibbeha112739
Bolivar111834
Warren109533
Lowndes108538
Panola106214
Sunflower105425
Scott100320
Lafayette98317
Copiah95728
Leflore94765
Pike93836
Holmes90049
Grenada84921
Yazoo83312
Lincoln83241
Pontotoc8308
Simpson80330
Monroe80155
Leake79025
Wayne77421
Coahoma77213
Tate73629
Marshall7019
Marion68420
Union64316
Adams62925
Winston62316
Covington62113
George5895
Pearl River55439
Newton54311
Tallahatchie53011
Attala52325
Walthall50120
Chickasaw47019
Noxubee45912
Alcorn4345
Tishomingo4216
Calhoun4209
Prentiss41710
Claiborne40913
Smith40613
Clay39714
Hancock39514
Jasper3889
Itawamba37510
Tippah36713
Tunica3517
Clarke32626
Montgomery3265
Lawrence3228
Yalobusha31510
Humphreys29411
Quitman2701
Carroll26111
Greene25512
Perry2437
Amite2356
Webster23512
Kemper23414
Jefferson Davis2336
Wilkinson21113
Stone2055
Sharkey1995
Jefferson1957
Benton1431
Choctaw1354
Franklin1312
Issaquena262
Unassigned00

Alabama Coronavirus Cases

Confirmed Cases: 99926

Reported Deaths: 1781
CountyConfirmedDeaths
Jefferson13258244
Mobile10517207
Montgomery6835149
Madison544734
Tuscaloosa423076
Baldwin365125
Unassigned363064
Shelby330936
Marshall318937
Lee270047
Morgan241118
Etowah216232
DeKalb183013
Calhoun180717
Elmore173138
Walker153964
Houston141912
Russell13872
St. Clair135418
Limestone134913
Dallas133123
Franklin128820
Cullman122712
Colbert120716
Lauderdale118919
Autauga117421
Escambia108717
Talladega104814
Jackson10144
Tallapoosa86579
Chambers84438
Dale83525
Clarke82610
Blount8124
Chilton8097
Butler76736
Coffee7646
Covington73720
Pike7087
Marion58026
Barbour5765
Lowndes57324
Marengo56515
Hale47826
Bullock46611
Winston45711
Perry4454
Washington44312
Bibb4425
Wilcox43210
Monroe4215
Pickens4049
Randolph40310
Conecuh39310
Sumter36418
Lawrence3512
Macon33914
Crenshaw3265
Choctaw28712
Cherokee2758
Henry2643
Clay2635
Geneva2631
Greene25211
Lamar2292
Fayette2125
Cleburne1271
Coosa1033
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