On the heels of yesterday's record close for the Dow (^DJI), investors are a bit more cautious this morning as they await the minutes from the last Federal Reserve policymakers' meeting.
Yahoo Finance's Aaron Task suggests we shouldn't be planning on any surprises from Janet Yellen and company.
"They have to recognize the weakness in the first quarter in the overall economy," he says. "And I suspect they're going to see transitory effects--the strong dollar and oil prices, which have reversed in the past month or so."
And Task also doesn't expect any earth shattering news on interest rates.
"The reality is the Fed isn't going to do anything on rates at the June meeting," he argues. "But they want to maintain the appearance that it's a possibility."
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Target on target
Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.
Target (TGT) shares are on the move in early trading. The big retailer is reporting first quarter profit that beat analysts' estimates, with revenue basically in line. Target says sales were boosted by shoppers making more and bigger purchases and by an almost 38% increase in online buys. Target is also raising the low end of its 2015 earnings forecast.
Lowe's (LOW) shares are falling this morning. The home improvement chain reported a miss on both its top and bottom lines in the first quarter. Even though Lowe's sales and profit grew from a year earlier it still didn't live up to Wall Street's expectations. This compares to rival Home Depot (HD), which posted better-than-expected first quarter results just yesterday.
Relatd: Target profit jumps; Lowe's, Etsy and Staples tumble on disappointing earnings
Staples (SPLS) shares are falling a the office supply retailer reported earnings per share that matched estimates, but revenue missed forecasts. Sales fell nearly 7% from a year earlier as same-store sales continued to decline. The company also expects sales to fall in the current quarter, but didn't say by how much exactly. Staples is waiting for regulators to approve its takeover of Office Depot (ODP).
Etsy (ETSY) shares are tumbling in early trading after the online crafts marketplace reported a surprise loss in its first earnings report as a public company. Analysts' were looking for the company to break even. And even though revenue soared 44% from a year earlier it slightly missed estimates. The company said a tax provision linked to corporate restructuring weighed on profits, while the stronger dollar hurt sales outside the U.S..
Pep Boys- Manny, Moe & Jack (PBY) shares are soaring in early trading following a report in the Wall Street Journal that the auto-parts and services retailer has been approached by private equity firm Golden Gate Capital and other firms about a potential takeover.
Twitter/Google deal
Tweets will now be a little easier to find. Google (GOOGL) and Twitter (TWTR) announced a partnership to prominently display tweets in Google searches. The Twitter search results will first be available within the Google app and mobile web, and desktop search is planned to follow later.
Airbnb is expanding into the professional vacation rental market. The home sharing site is developing software to help property managers streamline schedules and prices as well as link their properties to the Airbnb site.
Related: Airbnb to expand into the professional vacation rental market
