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 10:52 AM
Updated: Apr 24, 2018 10:52 AM

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

Oregon Coronavirus Cases

Data is updated nightly.

Cases: 313161

Reported Deaths: 3594
CountyCasesDeaths
Multnomah51245642
Washington34995276
Marion32577393
Clackamas26570271
Lane23989246
Jackson20977257
Deschutes16623102
Umatilla12602125
Douglas10712188
Linn1046886
Josephine8659165
Yamhill744999
Klamath643491
Polk623570
Malheur479467
Benton461927
Coos412069
Columbia324237
Jefferson313746
Lincoln276330
Union272737
Wasco239039
Crook212338
Clatsop211725
Tillamook181523
Baker174421
Morrow167921
Curry166817
Hood River163035
Harney78916
Grant7558
Lake6768
Wallowa50811
Gilliam1374
Sherman1283
Wheeler651
Unassigned00

California Coronavirus Cases

Data is updated nightly.

Cases: 4644566

Reported Deaths: 68019
CountyCasesDeaths
Los Angeles144512125852
Riverside3579884804
San Diego3495814009
San Bernardino3472035506
Orange3146225354
Sacramento1503072089
Santa Clara1405641841
Fresno1358611888
Kern1358421515
Alameda1162141329
Ventura976901120
San Joaquin973871615
Contra Costa95727924
Stanislaus806991234
Tulare72969896
San Mateo52239607
San Francisco51907605
Monterey49465565
Solano44151312
Santa Barbara43112500
Sonoma39441378
Merced39370535
Placer36487364
Imperial34261755
Kings30124284
San Luis Obispo28300313
Madera21707258
Butte21307230
Shasta20683276
Santa Cruz20151211
Yolo19143239
Marin17106242
El Dorado16004127
Sutter13094153
Napa1226895
Yuba926061
Nevada847685
Humboldt829587
Tehama823784
San Benito709067
Mendocino685575
Lassen637627
Tuolumne615393
Lake603687
Amador492259
Glenn398030
Siskiyou389541
Calaveras342266
Del Norte336034
Colusa290918
Inyo166539
Mono14935
Plumas12406
Mariposa99712
Trinity72010
Modoc6278
Sierra1980
Unassigned1650
Alpine1000
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