1. Alphabet earnings: Google parent company Alphabet has another chance Monday to show off the strength of its massive advertising business. Analysts surveyed by Refinitiv expect Alphabet to report first-quarter sales of $37.3 billion, an increase of 20% over the same period last year.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +3.00 | | -3.00 | | -1.25 | | +0.01% | | -0.04% | | -0.04% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -48.85 | | -23.90 | | -11.16 | | 22,258.73 | | 3,062.50 | | 7,417.03 | | -0.22% | | -0.77% | | -0.15% | | | |
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| Biggest Winners | | Loews Corp | +4.66% | | | | Target Corp | +1.95% | | | | Adobe Inc | +1.79% | | | | Walt Disney Co | +1.67% | | | Biggest Losers | | Coty Inc | -2.31% | | | | TechnipFMC PLC | -1.88% | | | | American Express Co | -1.03% | | | | CVS Health Corp | -0.71% | | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Alphabet earnings; Milken conference; Boeing questions | | By Charles Riley, CNN Business | | | | 1. Alphabet earnings: Google parent company Alphabet has another chance Monday to show off the strength of its massive advertising business. | | | | Analysts surveyed by Refinitiv expect Alphabet to report first-quarter sales of $37.3 billion, an increase of 20% over the same period last year. | | | | Net income is forecast to rise 6.5% to $7.5 billion. The company reports earnings after the closing bell. | | | | Some of the biggest names in tech have surprised analysts with strong openings to 2019. Facebook and Amazon, for example, have already topped Wall Street's expectations. | | | | 2. Milken conference: The Milken Institute's annual Global Conference is underway in Los Angeles. This year's theme is "Driving Shared Prosperity." | | | | Speakers scheduled for Monday include Christine Lagarde, managing director of the International Monetary Fund, and Goldman Sachs CEO David Solomon. | | | | CNN Business will have live coverage from the event. | | | | 3. Trump and oil: Crude oil futures dropped Monday, continuing a slide fueled by President Donald Trump's call for OPEC to increase production. | | | | "The gasoline prices are coming down," Trump said Friday. "I called up OPEC. I said you got to bring them down." | | | | US crude futures have declined 5.4% since topping $66.50 per barrel last week for the first time since October 2018. Brent crude, the global benchmark, is 5% below its recent peak. | | | | Both markets were down 0.5% on Monday. | | | | The Trump administration announced earlier last week that it wanted to drive down oil exports from Iran to zero, a move that could reduce global supplies and drive up energy prices. | | | | 4. Boeing faces investors: The planemaker is likely to face tough questions from shareholders at its annual meeting on Monday. | | | | CEO Dennis Muilenburg will appear before investors in Chicago after two deadly crashes of its 737 Max in less than six months. | | | | CNN has reported that four Boeing employees called an Federal Aviation Administration whistleblower hotline the day after Ethiopia released a preliminary crash report on Ethiopian Airlines flight 302. | | | | Among the information they provided is a previously unreported issue involving damage to the wiring of the angle of attack sensor by a foreign object, according to the source. | | | | 5. Global market overview: US stock futures were higher. | | | | European markets opened with gains. Stocks in Asia were mixed. Japan's markets are closed until May 6 for Golden Week. | | | | The Dow closed up 0.3% on Friday. The S&P 500 added 0.5% and the Nasdaq advanced 0.3%, with both indexes closing at new record highs. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 6. Earnings and economics: Loews Corp, Philips, Restaurant Brands International and Spotify will release earnings before the open. | | | | Alphabet, Ethan Allen, MGM Resorts and Yum China will follow after the close. | | | | Anadarko Petroleum is preparing to recommend a $76 per share takeover offer from Occidental Petroleum, according to the Financial Times. | | | | The bid is about 20% richer than a deal Anadarko reached earlier this month with Chevron. Anadarko owns prized shale fields in West Texas' Permian Basin. | | | | | | | |
| | | | | | Monday — Eurozone economic sentiment; Boeing shareholder meeting; Spotify and Alphabet earnings
Tuesday — Eurozone GDP; Fed meeting starts; China manufacturing PMI; GM, GE and Apple earnings
Wednesday — Fed decision; Yum Brands and CVS earnings
Thursday — Bank of England policy update; Under Armour and Dunkin' earnings; weekly jobless claims; Caixin China manufacturing PMI
Friday — Jobs report; Eurozone inflation, Fiat Chrysler earnings | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $63.02 | -0.28 / -0.44% | | | Gold | $1,283.70 | -5.10 / -0.40% | | | 10-yr | 2.50% | -0.03 | | | Euro | $1.12 | +0.00 / +0.05% | | | |
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