Peter Schacknow, Senior Producer, CNBC Breaking News DeskTax filing day reminds us of the old saw about nothing being certain but death and taxes, and that lack of certainty about everything else applies to the U.S. stock market this morning. The major averages come off a day that saw a 71 point or 0.6% gain for the Dow at the same time the Nasdaq was sliding by 0.8%. Much of that stemmed from the recent slump by Apple, which pressured the Nasdaq and managed to shave about two points off the S&P 500 all by itself.
A day after an unexpected slump in home builder sentiment, we’ll get another reading on the housing market this morning. The government’s 8:30am ET report on housing starts is expected to show a 0.7% increase for March following a 1.1% drop in February. At 9:15am ET, the Federal Reserve issues March industrial production figures, with consensus forecasts calling for a rise of 0.2% following an unchanged performance the prior month.
Earnings season kicks into high gear this morning, with Dow components Coca-Cola (KO) and Johnson & Johnson (JNJ) leading the way. We’ll also get quarterly reports from Goldman Sachs (GS), Comerica (CMA), Forest Labs (FRX), Northern Trust (NTRS), State Street (STT), and U.S. Bancorp (USB).
Dow components IBM (IBM) and Intel (INTC) lead the after-the-bell reports today, along with Yahoo (YHOO), Seagate Technology (STX), Stryker (SYK), Intuitive Surgical (ISRG), and CSX Corp. (CSX).
Research In Motion (RIMM) will be in the spotlight again today, after issuing a “no comment” on a Bloomberg report that it’s hiring advisers to help it weigh strategy options.
United Continental (UAL) has named senior vice president John Rainey as its new chief financial officer, replacing Zane Rowe. Rowe is taking a non-financial position at Apple.
Valero Energy (VLO) has updated its first quarter earnings outlook, now seeing EPS of $0.25 - $0.35, versus analyst estimates of $0.20.
Cheniere Energy (LNG) has received regulatory approval to build a new liquefied natural gas export plant in Louisiana. That’s the first such project approved in the U.S. in 50 years.
Yahoo (YHOO) has hired former PayPal executive Sam Shrauger to help lead a newly formed consumer commerce unit. He’ll share those duties with Mollie Spilman, who had been running the marketing operation for Yahoo’s Americas division.
Apple (AAPL) remains on our watch list today, after slumping 8.8% over the past five sessions. That’s the biggest 5-day drop for the stock in more than three years, and Apple is now down nearly 10% from its record intraday high of $644.00 on April 10.
And from “this day in history”: CNBC went on the air for the first time 23 years ago today, on April 17, 1989!
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