IN THE NEWS
After snapping a nine-quarter winning streak in the first quarter of 2018, U.S. stocks stumbled out of the gate in the second quarter on Monday: Link
April is here, and if past precedent holds true to form, that could be good news for investors who are long U.S. stocks. Over the past 20 years, the S&P 500 averaged an April gain of 1.8 percent while finishing higher 75 percent of the time.: Link
Sumner Redstone has overwhelming voting control of CBS Corporation CBS and Viacom Inc. VIAB And yet, he won’t have the final say over whether the companies merge: Link $
The Environmental Protection Agency moved to ease Obama-era vehicle emissions standards, siding with car makers who say the rules don’t work in an era of cheap gasoline, and setting up a fight with environmentalists and the state of California: Link $
Spotify Technology’s SPOT unusual route to becoming a public company is a test case for other multibillion-dollar tech companies that are looking to sell their shares but are not in need of cash: Link
Apple Inc. AAPL is planning to use its own chips in Mac computers beginning as early as 2020, replacing processors from Intel Corporation INTC, according to people familiar with the plans: Link
Elon Musk has reportedly taken over production of Tesla’s TSLA troubled Model 3 following reports that the electric car maker will miss first-quarter production goals for its flagship vehicle: Link
ECONOMIC DATA
- Data on motor vehicle sales for March will be released today.
- Redbook Reports US Retail Sales During First 4 Weeks Of Mar. Up 0.4% MoM, Up 3.5% YoY
- Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Duluth, Minnesota at 9:30 a.m. ET.
- The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
ANALYST RATINGS
- Citi upgraded U.S. Steel X from Hold to Buy
- Stifel upgraded ArcBest ARCB from Sell to Hold
- Stifel downgraded Constellation Brands STZ from Buy to Hold
- Barclays downgraded ManpowerGroup MAN from Equal-Weight to Underweight
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