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Wall Street snaps a 3-day losing streak but further gains may be elusive

IN THE NEWS TODAY

Wall Street is coming off its strongest daily gains of April, but U.S. stock futures were lower this morning. The Dow, S&P 500, and Nasdaq all broke three-session losing streaks on Monday. (CNBC)
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Bank of America (BAC) reported earnings and revenue that beat estimates. Three Dow stocks, Goldman Sachs (GS), UnitedHealth (UNH), and Johnson & Johnson (JNJ), also report results this morning. (CNBC)

Netflix (NFLX) beat estimates on earnings and matched on revenue. The streaming video service reported a slowdown in U.S. and international subscriber additions, but projected improvement in those numbers later in the year. (CNBC)

Meanwhile, Netflix has committed to spending over $15 billion for content, according to its first-quarter earnings release. This year alone, the company has said it expects to spend $6 billion. (CNBC)

United (UAL) beat expectations on earnings and revenue. The report covered the time period before the recent fiasco over a passenger being dragged off a flight. CEO Oscar Munoz apologized again. (CNBC)

As difficult Brexit negotiations get underway, British Prime Minister Theresa May this morning called an early general election to be held on June 8. The pound fell initially on word May was going to make an announcement. But the currency recovered after the news. (CNBC)

Far-right leader Marine Le Pen said she would suspend all legal immigration to France. Polls suggest she's neck-and-neck with centrist Emmanuel Macron, ahead of Sunday's first round of voting. (BBC News)

Seeking to encourage hiring Americans, President Donald Trump is set to sign an executive order today directing federal agencies to recommend changes to a temporary visa program used to bring foreign workers to the U.S. to fill high-skilled jobs. (Reuters)

Ahead of meetings with finance ministers and central bankers in Washington this week, Treasury Secretary Steven Mnuchin conceded the administration's timetable for ambitious tax reforms is set to slip following setbacks in negotiations with Congress over health care. (FT)

As procrastinators rushed to file their tax returns by today, White House Press Secretary Sean Spicer emphasized again that Trump had no intention of making his public, even as more than a dozen Republican lawmakers now say he should. (NY Times)

Voters in Georgia's Sixth Congressional District will have 18 candidates to choose from today when they decide who should fill the seat vacated by former Rep.Tom Price, a Republican who became Trump's health and human services secretary. (NY Times)

Vice President Mike Pence said today all options are on the table in dealing with North Korea, but that President Trump is determined to work with Japan, China and South Korea to find a peaceful solution. (Reuters)

Washington should "use every arrow" in its quiver to ensure a level commercial playing field in China, the American Chamber of Commerce in China said in its annual business climate report, warning that 2017 could be the toughest year in decades for U.S. firms there. (CNBC)

Former Microsoft CEO Steve Ballmer is launching today USAFacts, a database of government statistics structured in a similar way to the 10-Ks that public companies must file for shareholders. Here's a look at how the government compares to the largest American companies. (CNBC)

Facebook chief Mark Zuckerberg delivers his keynote address at the social network's annual developer conference today, against the backdrop of a police search for an accused killer who uploaded his crime to his Facebook page. (CNBC)

Meanwhile, Facebook is poised to show off how it will continue to follow the 10-year road map that Zuckerberg revealed at last year's event. Among Facebook's top priorities is augmented reality. (USA Today)

Apple is "almost certainly" exploring how to build an entire car but would likely need to partner with a manufacturer due to the complexities of making a whole vehicle, said top tech analyst turned venture capitalist Gene Munster. (CNBC)

Theranos and its founder pledged to stay out of the blood-testing business for at least two years in exchange for reduced penalties from federal health authorities, in an agreement that resolves a year-long regulatory impasse. (WSJ)

Uber said its vice president of global vehicle programs, a former Ford executive, who played a role in the ride-hailing company's self-driving car program, has left, the latest in a string of high-profile departures. (Reuters)

Tesla's Model X SUV was the overall top pick in the Automobile Association of America's 2017 Green Car Guide. AAA testers found the car to be the best choice among the 65 cars tested, including full-battery electrics, hybrids, alternative fuel-based cars and even fuel efficient internal combustion cars. (CNBC)

Meanwhile, lower gas prices have not dampened enthusiasm for electric cars, according to a new report from the Automobile Association of America. More than 30 million Americans are likely to buy an electric vehicle as their next car, and demand among millennials is especially high. (CNBC)

BY THE NUMBERS

Two key economic reports are out before today's opening bell, starting with the March housing starts report at 8:30 a.m. ET. The Fed's March report on industrial production is out at 9:15 a.m. ET.

Dow component IBM (IBM) leads the list of after-the-bell corporate earnings. Yahoo (YHOO) and Intuitive Surgical (ISRG) are also set to report quarterly results this afternoon.

Barracuda Networks (CUSA) late Monday reported quarterly earnings and revenue that beat estimates. However, the cybersecurity firm's shares were pressured after it did not issue a current quarter forecast.

STOCKS TO WATCH

Post Holdings (POST) will buy British cereal brand Weetabix from China's Bright Food Group for nearly $1.8 billion. There had been reports Monday afternoon during the trading day that the Post deal was close.

Fidelity & Guaranty (FGL) terminated its agreement to be taken over by China's Anbang Insurance. Anbang's failed to win the necessary regulatory approval to take over the U.S.-based life insurer.

Cabela's (CAB) will sell its banking assets to Synovus Financial (SNV), clearing the way for the retailer of sporting goods and outdoor products to be bought by Bass Pro Shops.

Rambus (RMBS) has expanded a memory chip collaboration with Microsoft (MSFT), involving the optimization of memory chip performance at cryogenic temperatures.

IRobot (IRBT) has sued rival vacuum cleaner makers Hoover and Stanley Black & Decker (SWK), accusing them of patent infringement. IRobot is the maker of the Roomba robotic vacuum.