Coming off a solid Easter shortened week, the U.S. equity markets are mixed in late-morning action, with 1Q earnings season set to heat up this week, while a stronger-than-expected read on domestic Leading Indicators is having a limited impact. However, international market action was light as European, Hong Kong, and Australian markets remained closed for the holiday weekend. Treasuries are gaining ground despite the data, which was the lone release on today's docket. Meanwhile, Sun Trust Banks, Hasbro, and Advanced Micro Devices all topped the Street's bottomline expectations, while Sarepta Therapeutics offered an upbeat outlook for its experimental muscular dystrophy treatment. In other equity news, Britain's Sunday Times reported that Dow member Pfizer approached AstraZeneca with a $100 billion takeover proposal. Gold is lower, while crude oil prices and the U.S. dollar are higher. Overseas, Japanese stocks finished flat as some weakness in the yen was offset by a disappointing trade report, while Chinese markets dropped ahead of this week's preliminary April manufacturing report from HSBC.
Source: Schwab
Source: Schwab
