5 things to know before the stock market opens tuesday
5 things to know before the stock market opens tuesday"
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_Here are the most important news, trends and analysis that investors need to start their trading day:_ * Stocks set to fall after Dow, S&P 500 slide from record closes * Four Dow stocks
report earnings, including J&J and IBM * United Airlines issue its fifth consecutive quarterly loss * Elon Musk says Autopilot was not enabled in Tesla crash in Texas * In Minneapolis,
a fortified city awaits Chauvin verdict 1. STOCKS SET TO FALL AFTER DOW, S&P 500 SLIDE FROM RECORD CLOSES Traders on the floor of the New York Stock Exchange. Source: NYSE U.S. stock
futures fell Tuesday as investors consider quarterly results from four Dow components and look ahead to Netflix earnings and an Apple product event in the afternoon. Apple is expected to
unveil new iPads, iMacs as well as device tracking AirTags. Tobacco stocks were under pressure after The Wall Street Journal reported that the White House may order tobacco companies to cut
nicotine levels in all cigarettes. The Dow Jones Industrial Average started the week off sliding from Friday's record close. The S&P 500 also fell modestly from its previous record
close. The Nasdaq lost 1% on Monday after coming up just shy on Friday of the tech-heavy index's February record close. The 10-year Treasury yield was steady early Tuesday after ticking
above 1.6%. However, it remained below last month's run of 14-month highs. 2. FOUR DOW STOCKS REPORT EARNINGS, INCLUDING J&J AND IBM Dow stocks Johnson & Johnson, Procter &
Gamble and Travelers reported results before the bell. IBM, also a Dow stock, issued quarterly earnings late Monday. * J&J beat estimates on first-quarter earnings and revenue,
including $100 million in sales of its Covid vaccine, which is on hold in the U.S. as health regulators investigate rare but severe blood-clotting issues. CFO Joseph Welk told CNBC on
Tuesday he hopes the "benefit-risk profile will play out" for the company's vaccine. Shares fell in the premarket. * P&G topped expectations on earnings and revenue in its
fiscal third quarter as consumers maintained Covid buying trends like purchasing more cleaning supplies and started buying beauty products again. Shares fell in the premarket. * Travelers
reported better than expected earnings in the first quarter. Revenue basically matched estimates. The insurance giant raised its dividend and added $5 billion to its buyback program. Shares
rose 1% in the premarket. * IBM issued first-quarter earnings and revenue that exceeded estimates. The enterprise technology and services provider reported revenue growth after four quarters
of declines. Shares rose nearly 3% in the premarket. 3. UNITED AIRLINES ISSUE ITS FIFTH CONSECUTIVE QUARTERLY LOSS Travelers arrive for flights at O'Hare international Airport on March
16, 2021 in Chicago, Illinois. Scott Olson | Getty Images Shares of United Airlines fell 2.5% in Tuesday's premarket, the morning after the carrier reported a wider-than-expected
first-quarter loss of $7.50 per share, its fifth consecutive quarterly loss. Revenue of $3.22 billion dropped nearly 60% from last year and fell short of estimates. Higher fuel costs and
still-dampened demand due to Covid hurt results. However, United does expect to return to profitability later this year as Covid vaccinations ramp up and governments loosen travel
restrictions. 4. ELON MUSK SAYS AUTOPILOT WAS NOT ENABLED IN TESLA CRASH IN TEXAS Lucas Jackson | Reuters Elon Musk denied that Tesla's automated driving systems were involved in a
fatal crash in the Houston suburb of Spring, Texas, on Saturday. The Tesla CEO tweeted Monday: "Data logs recovered so far show Autopilot was not enabled." Local police said nobody
was in the driver's seat when the 2019 Tesla Model S veered off the road and burst into flames. The two men in the car died. Two federal agencies, the NHTSA and the NTSB, are
investigating the accident, along with local police. Preliminary findings are not conclusive. 5. IN MINNEAPOLIS, A FORTIFIED CITY AWAITS CHAUVIN VERDICT Former Minneapolis police officer
Derek Chauvin attends closing arguments during his trial for second-degree murder, third-degree murder and second-degree manslaughter in the death of George Floyd with his defense attorney
Eric Nelson in Minneapolis, Minnesota, April 19, 2021 in a still image from video. Pool via Reuters More than 3,000 National Guard soldiers, along with local and state authorities, have
locked down Minneapolis in case of unrest when a verdict is reached in the murder trial of ex-police officer Derek Chauvin in last year's death of George Floyd. The jury of six white
people and six people who are Black or multiracial was set for its first full day of deliberations Tuesday. The White House is privately weighing how to handle the verdict, including whether
President Joe Biden should address the nation, aides and officials told The Associated Press. _— Follow all the market action like a pro on __CNBC Pro__. Get the latest on the pandemic with
__CNBC's coronavirus _coverage_._
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