Peter Schacknow, Senior Producer, CNBC Breaking News DeskTo say it’s been an up and down week on Wall Street would be something of an understatement – today’s action will determine whether its final disposition will be up or down.
Monday and Tuesday’s losses have been partially offset by the Dow and S&P 500’s best 2-day rally since late December, but the S&P 500 and the Nasdaq remain on pace to post their biggest weekly losses of 2012.
The week will conclude with two economic reports, beginning with the March Consumer Price Index at 8:30am ET.
Economists expect a 0.2% rise following February’s 0.4% increase.
At 9:55am ET, the University of Michigan is out with its preliminary April consumer sentiment index, seen coming in at 76.5 compared to the final March reading of 76.2.
Fed chairman Ben Bernanke will appear at a Princeton Club event in New York today, with remarks scheduled for 1pm ET.
A number of significant earnings reports are out this morning, as we get set for a flood of quarterly numbers over the next few weeks.
JPMorgan Chase (JPM) and Wells Fargo (WFC) will both be issuing their numbers before Wall Street trading opens.
Google (GOOG) leads our list of stocks to watch, reporting quarterly profit of $10.08 per share compared to estimates of $9.65.
Revenue was largely in line with estimates, with Google also announcing a two-for-one stock split.
Dow Chemical (DOW) has raised its quarterly dividend by 28%, with its payout rising to 32 cents per share from the prior 25 cents.
The chemical maker also says it expects earnings to grow for the foreseeable future.
Best Buy (BBY) says it’s creating a search committee to find a replacement for recently-resigned CEO Brian Dunn.
The search may take up to nine months, and interim CEO Mike Mikan will be among those considered for the job.
Coinstar (CSTR) is raising its current quarter revenue outlook, citing better than expected sales at its Redboox DVD rental unit.
It now expects first quarter revenue of $567 million to $569.2 million, compared to the prior range of $530 million to $555 million.
Adobe (ADBE) has announced a $2 billion dollar stock buyback program, with the software maker saying the new program will run through the end of fiscal 2015.
Videogame makers like Electronic Arts (ERTS) and Activision Blizzard (ATVI) will be on the watch list today, after NPD reported that videogame industry sales fell 25% in March, with both hardware and software sales taking a hit.
Infosys (INFY) saw its shares tumble in overseas trading, after it issued a worse than expected outlook for revenue growth.
The software company is citing an uncertain global economy and volatility in the currency markets.
Apple (AAPL) says the Justice Department’s accusations in a lawsuit involving electronic book pricing are “simply not true”.
DOJ alleges Apple and others colluded to keep prices high, but Apple says the launch of the iBookstore was designed to heighten competition and break Amazon.com’s (AMZN) “monopolistic grip” on the e-book market.
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