Here is what you need to know.
- Trade talks aren’t there yet. The White House economic adviser Larry Kudlow said Wednesday that trade talks between the US and China hadn’t broken through yet but expressed hope for progress this week, Bloomberg reports.
- Report finds Ethiopian Airlines pilots followed proper procedure. Ethiopia’s transport minister, Dagmawit Moges, said in a preliminary report out Thursday that the crew “performed all the procedures repeatedly provided by the manufacturer but was not able to control the aircraft.”
- Tesla deliveries drop sharply.The electric-car maker delivered 63,000 vehicles in the first quarter, according to a press release out Thursday evening, a 31% drop versus the fourth quarter.
- A top stock picker explains his secrets to uncovering the market’s hidden gems. Gary Frigon, the lead manager of the Taylor Frigon Core Growth Fund, shares his secrets for how he returned 22% over the past year and beat 95% of his peers.
- Jamie Dimon’s annual letter is out. “As I look back on the last decade – a period of profound political and economic change – it is remarkable how much we have accomplished, not only in terms of financial performance but in our steadfast dedication to help clients, communities and countries all around the world,” JPMorgan CEO Jamie Dimon wrote.
- Carl Icahn reportedly sold his Lyft shares right before the IPO. Back in 2015, Icahn bought a 2.7% stake for about $US150 million and sold it just ahead of the company’s initial public offering, The Wall Street Journal says. At the IPO price of $US72, Icahn’s stake would have been worth $US550 million.
- Tradeweb is going public. Shares priced at $US27 apiece on Wednesday evening and will trade on the Nasdaq under the ticker TW.
- Stock markets around the world are mixed. China’s Shanghai Composite (+0.94%) led the advance in Asia, and Britain’s FTSE (-0.54%) trails in Europe. The S&P 500 is set to open little changed near 2,875.
- Earnings reports trickle out. Constellation Brands reports ahead of the opening bell.
- US economic data flows. Challenger Job Cuts will be released at 7:30 a.m. ET, and initial claims will cross the wires at 8:30 a.m. ET. The US 10-year yield is down 2.1 basis points at 2.50%.
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