It’s been a mixed session, but stocks are recovering from earlier lows amid ongoing earnings releases and economic news.

The Q1 GDP numbers will be released tomorrow morning. There is anticipation for a big plunge, and it could still be negative from lopsided trade; however, we will be focusing more on PCE and business investments.

The Atlanta Fed GDPNow, this afternoon, revised its GDP estimate to -2.7% from -2.4%.

The Ten Year Treasury Yield (TNX) continues to retrace, moving below the 4.2% level.

The only sectors in the red are Energy (XLE) and Consumer Discretionary (XLY). Materials (XLB) is the leading sector driven by second-largest component Sherwin-Williams (SHW) who reported better than expected Q1 results.

Economic Data

Job openings in March fell by 288,000 to 7.192M, missing expectations of 7.48M.

Notable Points:

• Transportation, warehousing, and utilities: -59K
• Accommodation and food services: -42K
• Construction: -38K
• Federal Government: -36K
• Real estate: -39K
• Finance and insurance: +25K
• State and local education: +17K

Meanwhile, the number of jobs quits rose by 82,000 to 3.332M in March, above forecasts of 3.19M

Conference Board Consumer Confidence fell 7.9 points in April to 86, below estimates of 87.5. The Present Situation Index fell 0.9 points to 133.5, while the Expectations Index dropped 12.5 points to 54.4, the lowest level since 2011.