Futures point to a lower start for Wall Street today. The top headline is that IBM’s takeover bid for Sun Microsystems was unraveling over a dispute on price.
Alcoa kicks off earnings season when it reports its first quarter results tomorrow after the closing bell. The general consensus is that first quarter earnings will be poor, but investors will be looking for indications of improvement. There are not many other major reports this week, but the reporting schedule is heavy next week.
There is no economic data being released today and the week is relatively light. On Wednesday, the Fed will release its minutes from their March 17-18 FOMC meeting and we will get a look at wholesale inventories. Thursday brings the weekly initial jobless claims report, same store sales data, and the trade balance. The markets will be closed Friday.
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