Morning Brief

Dow under pressure | Oil prices surge | Musk promises robotaxis

BY THE NUMBERS

U.S. stock futures were lower this morning, a possible continuation of the very cautious trading of recent days. Despite that lack of movement, the S&P 500 and Nasdaq are both up for the past two days and three of the past four, and both posted their highest closes since Oct. 3 Monday. (CNBC)

This morning features earnings reports from four Dow components: Coca-Cola (KO), United Technologies (UTX), Procter & Gamble (PG), and Verizon (VZ). Twitter (TWTR) is also set to report. After-the-bell reports include eBay (EBAY), Edwards Lifesciences (EW) and Snap (SNAP). (CNBC)

Twitter stock rises 6% on earnings beat (CNBC)
Coca-Cola shares jump 3% after earnings beat (CNBC)
Procter & Gamble tops analyst expectations, boosts 2019 forecast (CNBC)

Oil prices were at their highest since November this morning after the U.S. announced all waivers on imports of sanctions-hit Iranian oil would end next week, pressuring importers to stop buying from Tehran and further tightening global supply. (Reuters)

* As US ends Iran sanction waivers, four experts forecast what's next (CNBC)
* Goldman Sachs is not expecting oil to rally despite US tightening sanctions on Iran (CNBC)

On the data front this morning, the government will be out with new home sales for March at 10 a.m. ET, with forecasts calling for a 2.5% drop to an annual rate of 650,000 units. New home sales had risen 4.9% in February. (CNBC)

Tesla (TSLA) CEO Elon Musk said some 1 million of the automaker's robotaxis with no human drivers would hit U.S. markets next year. Musk made the announcement on stage at the Tesla Autonomy Investor Day in Palo Alto, California last night. (CNBC)

IN THE NEWS TODAY

Sri Lanka's government has information indicating the plotters of the Easter bombings, which killed more than 300 people and wounded 500 others, were reacting to the New Zealand shootings that left 50 Muslims dead in March. (WSJ)

The U.S. Treasury and Internal Revenue Service faced a final deadline today for handing over President Donald Trump's tax returns to Democrats in Congress. Treasury Secretary Steven Mnuchin said he intends to "follow the law." (Reuters)

* Pence's tax returns, like Trump's, stay out of sight (WSJ)

Sen. Kamala Harris, a Democratic presidential contender, said she would support Congress starting impeachment proceedings against Trump. Sen. Elizabeth Warren just last week had called for impeachment. (CNBC)

* As some Democrats push for impeachment, Pelosi urges caution (NY Times)
* Russia's hack into the US election was surprisingly inexpensive, Mueller report shows (CNBC)

Trump announced in a tweet that Herman Cain, a former pizza executive and 2012 presidential candidate, had withdrawn himself from consideration for a seat on the Federal Reserve Board. Cain's selection had been on shaky ground. (CNBC)

The Republican National Committee has hired a tiny, unknown company, which is run by an Army veteran who leads a private intelligence firm, to dig up opposition research on Democrats for the 2020 campaign. (CNBC)

U.S. health officials confirmed 71 new cases of measles last week, putting this year just a few dozen cases shy of becoming the worst year on record since the disease was said to be eradicated from the U.S. in 2000. (CNBC)

Samsung has delayed the release of the Galaxy Fold past the original April 26 launch date, after it began breaking last week while reviewers were testing it. Samsung said the phone "needs further improvements" before it releases it. (CNBC)

Facebook (FB) hired State Department lawyer Jennifer Newstead as its general counsel, and also named former Microsoft public relations chief John Pinette as its new vice president of global communications. (CNBC)

STOCKS TO WATCH

Whirlpool (WHR) reported adjusted quarterly profit of $3.11 per share, beating the consensus estimate of $2.86, although revenue fell below forecasts. Whirlpool said it expected lower costs from tariffs and raw materials this year.

Exxon Mobil (XOM) struck a 20-year liquefied natural gas supply agreement with China's Zhejiang Energy. Financial details were not disclosed.

Dow Inc. (DOW) has locked out union workers at its Deer Park, Texas chemical plant after members of the United Steelworks Union rejected its latest contract proposal.

Sprint (S) and AT&T (T) have settled a lawsuit in which Sprint had accused its rival of deceptive advertising over its "5G E" branding. Terms of the settlement weren't announced, but an AT&T spokesman told CNBC that the two sides have "amicably" settled the matter.

PG&E (PCG) will add another director to its board with experience in the utility industry, as well as adding a safety specialist as an executive advisor. The moves are part of an agreement by the California utility with activist investor BlueMountain Capital Management.

Lyft (LYFT) was rated buy in new coverage at both Stifel Nicolaus and Jefferies, with both citing the growth of the ride-sharing industry and Lyft's strong No. 2 position in the market.

WATERCOOLER

"Jeopardy" contestant James Holzhauer may be making the game show's accountants tremble. Holzhauer set a single-show record of $131,127 in winnings, according to The Atlantic. So far, he's won around $850,000 and is on track to reaching $2.5 million. (CNBC)