Economic Indicators - Initial Jobless Claims rose to 241K, exceeding the expected 225K and the revised previous week's 223K, marking the highest level since February [3] - Continuing Claims surpassed 1.9 million, reaching 1.916 million, the highest since November 2021, indicating potential labor market weakness [4] Q1 Earnings Reports - Eli Lilly (LLY) reported earnings of $3.34 per share, missing expectations by 5%, but revenues of $12.73 billion exceeded projections and last year's $8.77 billion, driven by strong sales of weight-loss drug Mounjaro at $3.84 billion [5] - McDonald's (MCD) posted earnings of $2.67 per share, slightly above consensus, but revenues of $5.96 billion missed expectations, with same-store sales at their lowest in five years, leading to a 2% drop in shares [6] - CVS Health (CVS) beat earnings expectations with $2.25 per share versus $1.71 anticipated, and revenues of $94.59 billion exceeded estimates, contributing to an 8.7% increase in shares [7] - Wayfair (W) reported a surprise profit of $0.10 per share, significantly better than the expected loss of $0.18, with revenues of $2.73 billion slightly above estimates, resulting in a 6% rise in shares [8] Market Expectations - Anticipation for S&P Manufacturing PMI and ISM Manufacturing data, with S&P expected to slightly decrease to 50.6 while ISM is projected to drop to 47.8, indicating potential contraction [9] - Construction Spending for March is expected to decline to +0.2% from +0.7% in February, reflecting a slowdown in economic activity [10] - Upcoming earnings reports from major companies including Amazon (AMZN) and Apple (AAPL) are expected to influence market sentiment [11]