Stocks are rallying
Near 9:45 a.m. ET, the Dow was up 133 points, the S&P 500 was up 14 points, and the Nasdaq was up 45 points - all by as much as 0.7%.
JP Morgan shares rose 2.7% in early trading after the company reported earnings that topped expectations, setting the bar high for the rest of the banks as they report in the coming days.
In economic data out today, retail sales unexpectedly fell 0.3% in March, partly dragged down by weak auto sales. Excluding autos, sales rose 0.4%.
Producer prices also missed estimates, with PPI for final demand rising 0.1% month-on-month.
West Texas Intermediate crude futures in New York fell about 1.5% to $41.45. It touched a year-to-date high of $42.25 on Monday after reports that Saudi Arabia and Russia had agreed to freeze production.
The Bank of Canada's interest rate decision is due at 10 a.m. ET.
At 2 p.m. ET, the Fed will publish its Beige Book of anecdotes about the economy.
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- India Inc marks slowest quarterly revenue growth in January-March 2024: Crisil
- Nothing Phone (2a) India-exclusive Blue Edition launched starting at ₹19,999
- SC refuses to plea seeking postponement of CA exams scheduled in May
- 10 exciting weekend getaways from Delhi within 300 km in 2024
- Foreign tourist arrivals in India will cross pre-pandemic level in 2024