Jobless Claims Increased in Line With Expectations

Labor Market - Initial Jobless Claims for last week were reported at 222K, slightly above estimates but indicating a healthy labor market, with claims remaining between 215K and 225K since March [1] - Continuing Claims decreased to 1.841 million, down from a revised 1.878 million, showing positive trends in long-term jobless claims [2] Durable Goods Orders - Durable Goods Orders for March increased by 9.2%, significantly surpassing the expected 1.6%, marking the best performance since July of the previous year [3] - Excluding transportation, the durable goods orders showed no growth at 0.0%, below the anticipated 0.3% [3] - Non-defense orders excluding aircraft met expectations with a growth of 0.1% [3] Q1 Earnings Reports - PepsiCo (PEP) reported earnings of $1.48 per share, missing consensus by 2 cents, while revenues of $17.92 billion exceeded estimates by 0.94% [4] - Procter & Gamble (PG) met earnings expectations with $1.54 per share but missed revenue expectations at $19.78 billion, down from $20.2 billion a year ago [5] - American Airlines (AAL) reported a loss of $0.59 per share, better than the expected loss of $0.69, but revenues were slightly lower at $12.52 billion [6] - Bristol Myers-Squibb (BMY) exceeded earnings expectations with $1.80 per share and revenues of $11.2 billion, surpassing estimates by 4.3% [7] - Comcast (CMCSA) reported earnings of $1.09 per share, beating expectations, and revenues of $29.89 billion, although still below the previous year's $30.06 billion [8] Market Expectations - Upcoming Existing Home Sales data is anticipated, following a positive surprise in New Home Sales, with expectations set at 4.13 million units, down from 4.26 million in February [9] - A significant number of Q1 earnings reports are expected after market close, including major companies like Alphabet (GOOGL), Intel (INTC), and Freeport-McMoRan (FCX) [10]