Tesla, Microsoft, Bitcoin, 'Nomadland' - 5 Things You Must Know Monday

Investors will be focused this week on earnings and the Federal Reserve; Tesla reports earnings Monday; Apple, Amazon and Microsoft report later in the week; 'Nomadland' wins picture.
Author:
Updated:
Original:

Here are five things you must know for Monday, April 26:

1. -- Stock Futures Slip as Wall Street Focuses on Earnings and the Fed

Stock futures were mostly lower Monday as investors will be focused on the busiest week of earnings season and a Federal Reserve that is expected to leave key policy settings unchanged.

Contracts linked to the Dow Jones Industrial Average rose 32 points, S&P 500 futures were down 4 points and Nasdaq futures fell 53 points.

Stocks closed broadly higher Friday but the gains couldn't prevent a weekly loss of 0.1% for the S&P 500. It was the index's first weekly loss in the last five.

More than 180 companies in the S&P 500 will be reporting earnings this week. They include such giants as Tesla  (TSLA) - Get Report, Amazon.com  (AMZN) - Get Report, Microsoft  (MSFT) - Get Report and Apple  (AAPL) - Get Report.

Corporate earnings have been mostly positive so far this earnings season. Economic data also have pointed to an economy primed for a strong recovery.

Continued support from the U.S. government and the Federal Reserve, which meets Tuesday and Wednesday this week, also have put the U.S. on a firmer path to recovery than countries such as India and Brazil that are struggling with a surge in COVID-19 cases.

2.-- Tesla Earnings Kick Off Busy Earnings Week

Tesla is expected by analysts Monday to report first-quarter earnings of 75 cents a share on sales of $10.48 billion. It would be Tesla's seventh straight quarterly profit.

Rob Maurer of Tesla Daily previews the electric vehicle maker's earnings here.

Earnings reports are expected Monday from NXP Semiconductors  (NXPI) - Get Report, Albertsons  (ACI) - Get Report and MicroStrategy  (MSTR) - Get Report.

Reports are expected later in the week from Apple  (AAPL) - Get Report, Amazon  (AMZN) - Get Report, Alphabet  (GOOGL) - Get Report, Microsoft  (MSFT) - Get Report, Advanced Micro Devices  (AMD) - Get Report, General Electric  (GE) - Get Report, Facebook  (FB) - Get Report, Eli Lilly  (LLY) - Get Report, United Parcel Service  (UPS) - Get Report, Boeing  (BA) - Get Report, Starbucks  (SBUX) - Get Report, Ford  (F) - Get Report, Qualcomm  (QCOM) - Get Report, Caterpillar  (CAT) - Get Report, Comcast  (CMCSA) - Get Report, Merck  (MRK) - Get Report, NIO  (NIO) - Get Report, Exxon Mobil  (XOM) - Get Report, Chevron  (CVX) - Get Report, AbbVie  (ABBV) - Get Report and U.S. Steel  (X) - Get Report.

Top Earnings to Watch: Tesla, Microsoft, Apple and Facebook

Apple, Amazon, Alphabet, Microsoft, AMD, Boeing, AbbVie, Facebook, Ford, Eli Lilly, Starbucks and United Parcel Service are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stocks? Learn more now.

The U.S. economic calendar Monday includes Durable Goods Orders for March at 8:30 a.m. ET.

The calendar this week also includes an interest rates announcement from the Federal Reserve on Wednesday, an advance estimate of U.S. growth in the first quarter, a report on consumer confidence and data on jobless claims, personal incomes and consumer spending.

3. -- Bitcoin Rallies After Two-Week Stumble

Bitcoin was rallying Monday following a two-week stumble for the world's largest cryptocurrency.

Bitcoin jumped 7.32% to $53,334, according to CoinDesk. The digital asset set a record of $64,829 earlier this month, largely on the back of enthusiasm for the direct listing of Coinbase Global  (COIN) - Get Report.

Bobby Ong, chief operating officer of CoinGecko, one of the largest independent cryptocurrency data aggregators, told TheStreet the recent bitcoin selloff was a result of "a lot of fear and uncertainty spreading on social media due to various factors."

Bitcoin's Tumble, Explained

Those factors, Ong said, included rumors of the U.S. Treasury taking legal action against certain financial institutions for money laundering - which turned out to be false; reports about a crypto ban in India; Turkey banning crypto payments; President Joe Biden proposing higher capital gains taxes; and China bitcoin miners losing power.

Bitcoin: Boom, Bust and Big Opportunity?

4. -- J&J Vaccine Pause Lifted as Benefits Said to Outweigh the Risks

The Centers for Disease Control and Prevention and the Food and Drug Administration lifted their recommended pause on use of Johnson & Johnson's  (JNJ) - Get Report coronavirus vaccine, following the advice of an advisory committee that said the benefits outweighed the risks of a rare but serious blood-clot condition linked to the shot.

J&J's vaccine received strong reassurances from Dr. Francis Collins, director of the National Institutes of Health, who told NBC News' "Meet the Press" that a woman taking the vaccine is less likely "to have this blood-clotting problem than to get struck by lightning next year.” 

"When you consider the nature of this risk, this is truly a rare event. And when you measure that against the benefits of preventing somebody from dying of COVID, there is no comparison. We clearly have a situation where the benefits greatly outweigh the risks, even for younger women," said Collins.

The J&J vaccine was paused April 13 following worries about blood clots forming in some patients who got the shots. Several women reported clotting and some died. 

The CDC's Advisory Committee on Immunization Practices advised a fact sheet be given out during the vaccinations so that people could understand the possible side effect.

5. -- 'Nomadland' Wins Best Picture

“Nomadland,” a drama about people moving from place to place on America's open roads, won the award for best picture at the 93rd Academy Awards.

The film was distributed by Searchlight, the studio owned by Walt Disney  (DIS) - Get Report

Frances McDormand, the star of “Nomadland,” won the best actress award. Chloe Zhao won the award for best director for "Nomadland," becoming the first woman of color to win that prize.

Netflix  (NFLX) - Get Report took home seven awards. The streaming giant had received 36 nominations.

Walt Disney is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells DIS? Learn more now.