Pre-Markets in Green on Strong Q1 Earnings

Import prices lower, exports higher, and Empire State Manufacturing swings positive

Apr. 17, 2026 at 3:14pm

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Pre-market futures are up this morning following better-than-expected economic reports and Q1 earnings from major financial firms like Bank of America, Morgan Stanley, and Progressive. Import prices for March came in lower than expected, while export prices were higher. The Empire State Manufacturing survey also surprised to the upside, swinging back into positive territory.

Why it matters

The positive economic data and earnings results suggest the U.S. economy may be weathering inflationary pressures and geopolitical tensions better than anticipated. This could boost investor confidence and lead to further market gains, though concerns remain around the ongoing conflict in the Strait of Hormuz and its impact on global energy supplies.

The details

Import Prices for March came in at +0.8%, 160 basis points lower than the +2.4% expected, and down from the downwardly revised +0.9% for February. Excluding volatile fuel prices, Imports were up just +0.2%, well below the +1.1% analysts had forecast. Export Prices were higher at +1.6% month over month, but still down 30 bps from the prior month. The April Empire State Manufacturing survey also surprised, swinging to +11 from the -0.5 expected. Bank of America, Morgan Stanley, and Progressive all reported Q1 earnings that beat analyst estimates.

  • Import Prices for March were released this morning.
  • The April Empire State Manufacturing survey was also released this morning.
  • Q1 earnings results for Bank of America, Morgan Stanley, and Progressive were reported before today's market open.

The players

Bank of America

A major U.S. bank that reported Q1 earnings that beat estimates.

Morgan Stanley

A global financial services firm that reported stronger-than-expected Q1 results, particularly in its equities trading revenue.

Progressive

A major U.S. insurance company that reported mixed Q1 results, beating on earnings but missing on revenue.

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What they’re saying

“While we always keep one eye on the latest updates for the Strait of Hormuz and the Iran war, we also get a new Homebuilders Confidence survey after today's opening bell.”

— Zacks Equity Research, Author

What’s next

Later today, investors will be watching the new Homebuilders Confidence survey as well as the latest Fed Beige Book, which tracks economic conditions across the 12 Federal Reserve districts.

The takeaway

The positive economic data and earnings results suggest the U.S. economy may be proving more resilient than expected in the face of inflationary pressures and geopolitical tensions. However, concerns remain around the ongoing conflict in the Strait of Hormuz and its potential impact on global energy supplies.