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US GDP: Advance figures for first-quarter US economic growth are set for release this morning. Economists expect the economy grew 2 per cent, down from a 2.6 per cent increase in the final quarter of 2022. 

Amazon: Investors will be keen to learn if cost pressures abated during the first quarter and if the company’s profit outlook is forecast to improve, following a new round of job cuts. Amazon is expected to report revenue increased about 7 per cent in the first quarter, according to economists polled by Refinitiv. But adjusted earnings are expected to fall by 16 cents to 21 cents per share in the first quarter, as analysts’ expect soft sales growth from its cloud computing division.

Other earnings: Pharmaceutical companies Eli Lilly, Merck and Bristol-Myers Squibb report before the opening bell, as do Mastercard, Southwest Airlines and industrial groups Caterpillar and Honeywell. Chipmaker Intel and social media group Pinterest are also reporting today after the bell.

Other economic data: Applications for new unemployment aid are forecast to have edged up to a reading of 248,000 claims last week from 245,000 in the previous seven days. Pending home sales are forecast to have increased 0.5 per cent in March, down from a 0.8 per cent increase in February, according to economists’ polled by Refinitiv.

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