sour note on semiconductors Monday, the
Nasdaq Composite Index
went in to selloff mode, dropping more than 100 points.
Today, the market will have some economic data to digest, along with a healthy portion of earnings announcements. Internet retailer
will grab the spotlight when it announces first-quarter earnings after the closing bell.
According to a 24-analyst consensus, the Seattle-based company is expected to post a loss of 25 cents a share, compared with a 35-cent loss a year ago. Ahead of earnings, the company preannounced that it would exceed profit expectations for the quarter, citing a strong rise in consumer electronics sales. In a separate story, our own
explores the recent chatter concerning the company's cash position.
Amazon shares traded up 42 cents, or 2.66%, to $16.20 Monday.
complete list of today's earnings announcements.
In economic news, the
Consumer Confidence Index for April, the
Redbook Retail Average and the
BTM-UBSW Weekly Chain Store Sales Index are due out today. Collectively, these three indicators should provide a snapshot of the latest trends in consumer spending.
Forecasts are from
. Times are Eastern. For a longer-term economic calendar and more, see
- 9 a.m.: BTM-UBSW Weekly Chain Store Sales Index for the week ended April 21. Source: Bank of Tokyo-Mitsubishi and UBS Warburg. Forecast: n.a. Previous: +0.5%.
9 a.m.: Redbook Retail Average for the week through April 21 vs. March. Source:
LJR Redbook. Forecast: n.a. Previous: +1.4%.
10 a.m.: Consumer Confidence Index for April. Source:
Conference Board. Forecast: n.a. Previous: 117.0.
IPO Lockups Expiring
Michael Falbo, who writes a column for
ipoPros.com subsidiary, keeps a close eye on lockup expirations every week. For more on lockup expirations and why they matter, check out Ben Holmes' primer on the subject. The full current lockup expiration list is published separately. For information on IPO pricings, filings and aftermarket activity, plus a calendar of upcoming IPOs, check out
IPO data section.