Good morning. Here's what you need to know.


  • In earnings news, General Electric topped estimates when it announced operating earnings of $0.34 per share, on revenue of $35.2 billion. McDonalds earnings came in line with expectations. 


  • Microsoft beat earnings expectations when it reported earnings of $0.60 per share, on revenue of $17.41 billion, after the bell yesterday. Notably, Windows revenue was up 4 percent year-over-year.

  • World leaders attending joint IMF-World Bank meetings in Washington, DC, today are debating increasing funds available to the IMF. The US and Canada have spoken out against devoting more money to the eurozone debt crisis, but the fund will reportedly receive new commitments totaling $320 billion.

  • March UK retail sales, including auto fuel, rose 1.8 percent month-over-month, after falling 0.8 percent the previous month. Warm weather boosted purchases of clothing and gardening products, and auto-fuel demand increased on panic buying.

  • Schlumberger reported a 38 percent rise in Q1 earnings, boosted by revenue growth in North America. The company announced profit of $1.3 billion or $0.97 per share, on revenue of $10.61 billion.