10 Things You Need To Know Before The Opening Bell

amanda seyfried

Good morning. Here’s what you need to know.

  • Asian markets were mixed in overnight trading with the Nikkei up 1.2% on yen weakness. Europe is selling off and U.S. futures are lower.
  • UK joblessness climbed by 70,000 to 2.56 million from December through February. The unemployment rate climbed to 7.9%. Meanwhile, average wage growth ex-bonuses fell to 1%, the lowest in over 10 years.
  • Bank of America missed when it reported earnings of $0.20 per share, on expectations of $0.23 per share. Revenue came in at $2.6 billion, also missing expectations. Expects to begin capital plans in the second quarter. Gundlach tells bond bears they’re wrong >
  • The Beige Book which contains anecdotal evidence on the economic conditions of local businesses is out at 2 p.m. ET. It is typically published two weeks before the FOMC meeting. Investors watch this report because it influences policy makers and interest rate policy. Follow the release at Business Insider >
  • Investigations into the Boston Marathon bombing are ongoing. Investigators are looking for a suspect or suspects that were carrying dark nylon backpacks. They were suspected to have used a pressure cooker in¬†building the bombs.¬† 3 people died and another 176 were wounded in the attacks.
  • Cyprus’ finance minister Haris Georgiades has said that the government plans to sell part of its gold reserves in the next months. The Cypriot central bank is said to have 13.9 million metric tons of gold and the government has committed to sell about 400 million of ‘excess’ gold reserves. 10 countries being slammed by the gold collapse >
  • Intel reported earnings of $0.40 per share in line with expectations. It reported Q1 revenue of $12.58 billion. But Intel’s profit fell 25%. Meanwhile, Yahoo reported earnings of $0.38 per share, on revenue of $1.07 billion, missing on the top line.
  • British retail giant Tesco is exiting the U.S., and wrote down the value of its global operations by $3.5 billion.
  • Toy maker Mattel reported Q1 net income of $38.5 million or $0.11 per share, surging past expectations of $0.08 per share. Sales were boosted by Monster High and American Girl products.
  • 4,000 extra police officers have been brought into central London for the funeral of former British prime minister Margaret Thatcher. The funeral is said to cost over $15 million.
  • Bonus – Amanda Seyfried told Allure magazine that she is insecure about her body, but added that “she doesn’t kill herself because it isn’t worth it.”

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