U.S. futures were mixed as first quarter earnings season gets underway. Aluminum producer Alcoa gets the corporate reporting period off to an unofficial start after the U.S. market close. Other major companies reporting this week include Intel, Google, JPMorgan, Bank of America and General Electric. Overall, first quarter earnings are expected to have risen nearly 37% over the year-ago period, according to Thomson Reuters.
The only economic statistic scheduled for release today is the federal budget statement for March. Economists see the March budget deficit at $62 billion, compared with a $191.6 billion deficit in March 2009. Tomorrow, we will get data on the international trade balance, and on Wednesday we will get the latest Consumer Price Index reading and March retail sales report. The weekly jobless claims, Empire State Manufacturing Index and Industrial Production reports will be released Thursday. We end the week with reports on housing starts and consumer sentiment.
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