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What drives the markets?

Investors waded into the busiest week of the US corporate earnings season, analyzing results from a number of heavyweights released before the opening bell, while anticipating results from megacap tech players Microsoft Corp. . MSFT
and Google parent Alphabet Inc. GOOG.

“This week there will be a lot of attention on megacap earnings announcements. Netflix’s announcement turned out to be a big speed bump that the market is still trying to overcome and hopefully there will be some power for us help, created by FAANG stock announcements and forecasts remaining this week,” said Brian Overby, senior options analyst at Ally Bank, in emailed comments.

Formerly top flight Netflix NFLX
the shares have fallen more than 40% since announcing last week that it had lost 200,000 subscribers in the first quarter.

While nearly 80% of companies that have so far released reports for the quarter have exceeded their earnings expectations, including GE, United Parcel Service Inc. and Pepsico Inc, disappointing earnings forecasts, including those of JetBlue Airways Corp., weigh on the shares.

In U.S. economic data, durable goods orders at U.S. factories rose 0.8% in March and business investment rebounded from the first decline in a year, signaling that the economy continues to grow at a steady pace. supported. The rise in durable goods orders was consistent with consensus expectations produced by a survey of economists from The Wall Street Journal.

A survey of consumer confidence fell in April to 107.3 from 107.6, but Americans indicated they were optimistic enough about the economy to continue buying big-ticket items such as new cars and household appliances.

The S&P CoreLogic Case-Shiller home price index for 20 cities posted a 20.2% year-over-year gain in February, up sharply from 18.9% the previous month, but US new home sales fell 8.6% to an annual rate of 763,000 in March, the government said Tuesday.

Companies in the spotlight

• Twitter Inc. TWTR
  Shares fell 3.1% to nearly $50.11 after its board on Monday agreed to accept Tesla chief Elon Musk’s $54.20 per share offer for the platform. -form of social media.

• 3M Co. MMM
  Shares fell 2.1% after the maker of post-it notes and industrial equipment posted better-than-expected first-quarter earnings.

• PepsiCo Inc. PEP Stock
  rose 0.4% after posting earnings and revenue that beat Wall Street forecasts.

• United Parcel Service Inc.UPS
  Shares fell 3.6% after the parcel delivery giant reported first-quarter earnings and revenue that beat expectations.

• General Electric Co. GE
  Shares fell 10.2% after the industrial conglomerate reported first-quarter adjusted earnings and revenue that beat expectations but missed free cash flow and provided a somewhat optimistic outlook.

• Shares of JetBlue Airways Corp. JBLU
  fell 8% after the airline reported a lower-than-expected loss and revenue that more than doubled to match forecasts, but said it planned to further reduce capacity growth to help restore operational reliability. United Airlines Holdings Inc. UAL
  said on Tuesday it was launching the biggest transatlantic expansion in its history with 30 new or resumed flights between mid-April and early June. The shares fell 2.1%.

What other assets are doing

• The yield on the 10-year Treasury note BX:TMUBMUSD10Y
  fell 9.7 basis points to 2.732%. Yields and debt prices move in opposite directions.

• The ICE US Dollar Index DXY,
  a measure of the currency against a basket of six major rivals, rose 0.3%.

• BitcoinBTCUSD
  fell 2.5% to trade below $39,500.

• Oil futures rose, with US benchmark CL
  up 1.8% to return above the $100 per barrel threshold. GC00 Gold Futures
  rose 0.6% to trade near $1,908 an ounce.

• The Stoxx Europe 600 XX:SXXP
  fell 0.4%, while London’s FTSE 100 UK:UKX
  gained 0.2%.

• The Shanghai Composite CN:SHCOMP
  fell 1.4%, while the Hang Seng HK:HSI index
  rose 0.3% in Hong Kong and Japan Nikkei 225 JP:NIK
  gained 0.4%.