The week ahead in business: China GDP, Netflix earnings, 2 big tech IPOS
China will release first quarter GDP on Wednesday.
Why it matters: Though the report's accuracy is questioned, it's still closely watched. Economists expect the Chinese economy to have expanded 6.3% on an annual basis, slower than the 6.4% in the prior quarter.
On the earnings front, look for an update on Netflix's cash burn on Tuesday. Multinational conglomerate Honeywell reports on Thursday: Its earnings generally give a good indication of the health of the market as a whole.
- It's a shortened week for many traders, as markets around the world — including the U.S., London and even Hong Kong — are closed for Good Friday.
- Per Reuters, this week marks "the first of four consecutive shortened trading weeks," where at least one major exchange is closed for one day.
2 big tech IPOs are coming this week: Pinterest and Zoom. Thought bubble by Axios' Dan Primack:
- Pinterest is consumer-focused and unprofitable. There's also not anything else quite like it, and you can see an actual path to profitability.
- Zoom is enterprise-focused, profitable and likely to be valued 7 times above its last private round. It plays in a mature videoconferencing space, but seems to do it better than its legacy peers.
Apple and Tesla will be in court this week.
- Apple's ongoing licensing fight with Qualcomm will head to another federal court starting this week. Jury selection begins in San Diego tomorrow.
- We'll find out whether Elon Musk and the SEC "put their reasonableness pants on" on Thursday — that's the deadline a New York federal judge gave the two parties to define how and when Musk's tweets need to be reviewed.