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NEW YORK (CNNMoney)
The Dow, S&P 500, and Nasdaq all moved slightly higher in morning trading.
U.S. stocks snapped a three-day losing streak Tuesday, with all three indexes gaining, albeit less than 1%. That put the S&P 500 back into positive territory for the year, but the Dow and Nasdaq are still in the red.
Also today, the Federal Reserve will release minutes from its March meeting at 2 p.m. ET. At the press conference following that meeting last month, Fed Chief Janet Yellen briefly spooked investors when she stated that the US central bank's stimulus program would most likely be finished by the fall and that a rate hike could come as soon as early 2015.
Auto stocks were under pressure today after Toyota (TM) announced a massive global recall. General Motors (GM, Fortune 500), grappling with the continuing fallout of its botched ignition switch recall, fell in morning trading.
In other corporate news, Comcast (CCV) and Time Warner Cable (TWC, Fortune 500) representatives will appear before the Senate Judiciary Committee to plead their case for merging the companies. Shares of both companies were higher.
Related: Fear & Greed Index still gripped by fear
Earnings will most likely be the main catalyst for the markets in the weeks ahead. The first quarter was hampered by severe winter weather, which may have had an impact companies' bottom lines.
The earnings season unofficially commenced yesterday afternoon when Alcoa (AA, Fortune 500) reported earnings that topped expectations. Shares of the aluminum producer bounced Wednesday. The next big reports will be from some of the big US banks on Friday.
Related: Brace yourself for ugly corporate earnings
Corporate executives at Constellation Brands (STZ) are likely have a toast. Shares were up after the alcoholic beverages company posted quarterly profits that beat estimates, thanks to a bump in its beer shipments business.
Shares of medical robotics company Intuitive Surgical (ISRG) plunged after the company said it expects first quarter revenue to come in 24% lower than the same quarter last year. The dreary forecasts comes just weeks after the stock soared following F.D.A. approval for a new surgical robot device.
In IPO news, La Quinta (LQ) hotel chain began trading today under the symbol LQ. Shares dropped intially, but are now modestly higher. That's in sharp contrast to a Chinese healthcare firm, iKang (KANG), which spiked over 20% in its debut.
Investors are watching Chinese IPOs as marquee brands Weibo (aka "Chinese Twitter") and Alibaba are expected to list soon.
Related: CNNMoney's Tech30
European markets were higher in afternoon trading.
Most Asian markets also managed gains, led by Hong Kong's Hang Seng with a 1.1% rise. Japan's Nikkei continued its decline, falling 2.1%, as hopes fade of more central bank stimulus.
First Published: April 9, 2014: 9:50 AM ET
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