Updated from 8:40 a.m. EDT

(At 4:30 p.m. EDT)

Earnings Begins Early

Monday's session was barely in the books before Goldman Sachs ( GS) decided to surprise investors by reporting its quarterly results early.

One analyst who recommended buying shares of Goldman Sachs ahead of the report nailed it, as the company reported earnings of $3.39 a share (compared to forecasts of $1.60 a share, according to Thomson Reuters) on revenue of $9.43 billion (compared to forecasts of $7.08 billion).

Goldman Sachs also announced a public offering of $5 billion of its common stock, adding that if permitted by its supervisors and if supported by the results of the government's stress test, it would like to use the capital raised plus additional resources to redeem all of the TARP capital.

With Goldman's release out of the way, the only marquee earnings report investors will have to watch Tuesday morning will be Dow member Johnson & Johnson ( JNJ).

Following Tuesday's close, Intel ( INTC) will be the headliner, with at least one analyst expecting the chipmaker (and many others) to beat first-quarter targets and guide higher for the second quarter.

Railway concern CSX ( CSX) will also report after Tuesday's closing bell.

Economic Reports Set to Hit

Several economic releases will certainly sway trading tomorrow, too. The March read on the producer price index is set for 8:30 a.m. EDT alongside retail sales data for March. The PPI reading should be flat, with the core number (which excludes food and energy) expected to increase 0.1%. Meanwhile, retail sales are expected to have increased 0.3% last month, although may have been flat when autos are taken out.

Later in the session, the February read on business inventories will be released, with economists expecting a 1.2% decline.

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