US GDP: Economists expect the advance estimate for first-quarter US economic growth to be 2.4 per cent, after gross domestic product expanded by 3.4 per cent in the fourth quarter of 2023.
Microsoft: The world’s biggest company by market value is expected to report that earnings rose by 37 cents to $2.82 a share on revenue that jumped 15 per cent to $60.8bn in the three months to March, according to analysts polled by Reuters. Investors will be interested in its artificial intelligence services and the new technology’s effect on its cloud segment Azure.
Alphabet: Google’s parent company is expected to report that revenue increased 13 per cent to $78.6bn in the first quarter thanks to a rise in advertising revenue. Earnings are forecast to rise 29 per cent to $1.51 a share. Investors will be keen to learn more about its efforts to speed up its rollout and development of AI products.
Other earnings: Merck, Caterpillar, Honeywell, Bristol Myers Squibb, Altria, Northrop Grumman, Royal Caribbean Cruises, Southwest Airlines, American Airlines, Harley-Davidson and Hertz are reporting before the bell. Intel, Capital One and Snap are reporting after the bell.
Other economic data: New applications for unemployment aid in the US are forecast to have edged up to 215,000 in the week to April 20, compared with 212,000 claims the previous week. Pending home sales in the US are expected to have increased 0.8 per cent in March after rising 2.6 per cent in February.
Trump: The US Supreme Court will hear oral arguments to determine whether former president Donald Trump is immune from criminal charges for actions taken while in the White House.
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