Welcome Back,

Market Headlines 👀 

• US Federal Reserve Chair Powell gives a hawkish stance today in a speech citing rate cuts may be delayed due to inflation data.

• Microsoft (MSFT) invests $1.5b into G42 an AI firm based in the UAE.

• Tesla (TSLA) announces a 10% global layoff, biggest cut in company history.

• Adobe (ADBE) announces an Acrobat AI assistant which will cost $4.99 monthly.

• Salesforce (CRM) company is in talks to purchase data management firm - Informatica.

Earnings 💸

• Bank of America (BAC)

  • EPS: $0.83 beats (exp. $0.76)

  • Revenue: $25.80b beats (exp. $25.49b)

• United Health Group (UNH)

  • EPS: $6.91 beats (exp. $6.62)

  • Revenue: $99.8b beats (exp. $91.9b)

• Johnson & Johnson (JNJ)

  • EPS: $2.71 beats (exp. $2.65)

  • Revenue: $21.38b misses (exp. $21.39b)

• Morgan Stanley (MS)

  • EPS: $2.04 beats (exp. $1.65)

  • Revenue: $15.14b beats (exp. $14.38b)

S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

• SPX has now breached its 50d moving avg, see details on next key levels to watch below!

Whats on the consumers mind?

(Contributed by Cameron Dawson, CIO at NewEdge Wealth). For the full report you can click here.

Market Preview 🎞️

• Wednesday, April 17th: MBA mortgage applications

• Wednesday earnings: ASML (ASML), and US Bancorp (USB)

• Thursday, April 18th: Weekly jobless claims; Existing home sales

• Thursday earnings: Netflix (NFLX), BlackStone Group (BX), and Intuitive Surgical (ISRG) and TSMC (TSM)

• Friday, April 19th: Monthly OPEX options expiration

Enjoy reading?👇

That’s all for today, folks! We’ll be back around the same time Thursday with a curated list of important news, economic data and market highlights. 

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