Stocks slip after downbeat U.S. job openings data, IMF forecast cut Stocks were weak from the outset of trading, bringing an end to the S&P's eight day win streak. While today was relatively slow on the economic data front, the lull ends tomorrow when investors can expect an ECB rate decision, the U.S. CPI report for March and FOMC minutes from the Fed's last rate setting meeting. ECONOMIC EVENTS: In the U.S., the JOLTS report showed job openings fell a larger than expected 538,000 to 7.09M in February, but from January's upwardly revised 146,000 rise to 7.63M. Additionally, IMF cut its global growth forecasts for the third time in six months. The International Monetary Fund now estimates the world growth rate at 3.3% for 2019 versus the 3.5% growth it guided to in January. TOP NEWS: The Office of the United States Trade Representative announced last night that it has begun its process under Section 301 of the Trade Act of 1974 to identify products of the E.U. to which additional duties may be applied until the European Union removes subsidies to Boeing (BA) rival Airbus (EADSY) that "have caused adverse effects to the United States." Based on the appellate report, the U.S. requested authority to impose countermeasures worth $11.2B per year, commensurate with the adverse effects caused by EU subsidies, the USTR said. In other Boeing news, the company announced that it delivered 149 total commercial airplanes in the first quarter of 2019, including 89 planes from its 737 program. Crown Resorts of Australia confirmed that has been in confidential discussions with Wynn Resorts (WYNN) regarding a potential change of control transaction following approaches to Crown by Wynn. However, Wynn Resorts subsequently announced that "following the premature disclosure of preliminary discussions," Wynn has terminated all talks with Crown concerning any transaction. Shares of Wynn Resorts closed 3.9% lower. In other M&A news, Principal Financial Group (PFG) announced a definitive agreement to acquire Wells Fargo's (WFC) Institutional Retirement & Trust business for the purchase price of $1.2B. The agreement also includes an earnout of up to $150M tied to better than expected revenue retention, payable two years post-closing. Bank of America (BAC) announced that it will raise its minimum wage to $20 per hour over a two-year period. On May 1, 2019, the minimum hourly wage will increase to $17, and will continue to rise until it reaches $20 in 2021, the bank noted. Meanwhile, Tesla (TSLA) CEO Elon Musk tweeted that the structural completion of the Tesla Gigafactory 3 in Shanghai, China "seems on track" for May, though he noted it will take several months to install and activate factory equipment. MAJOR MOVERS: Among the noteworthy gainers was Cerner (CERN), which rose 10.3% after announcing a cooperation agreement with Starboard that includes a board refreshment plan and the authorization of the repurchase of an additional $1.2B of its common stock. Also higher was Telaria (TLRA), which gained 1.9% after Canaccord analyst Austin Moldow backed a Buy rating on the stock and raised his price target to $9 from $6, saying that it has been a year and half since Telaria restructured and renamed and, based on recent meetings, it seems that investors are "giving it a leg up in sentiment." Among the notable losers was Hollysys (HOLI), which slid 22.7% after JPMorgan analyst Karen Li downgraded the stock to Neutral from Overweight, stating that she views the company's 7.8M share offering as surprising. Also lower was Zogenix (ZGNX), which dropped 22.9% after the U.S. Food and Drug Administration refused to review a marketing application for the company's seizure treatment. INDEXES: The Dow fell 190.44, or 0.72%, to 26,150.58, the Nasdaq lost 44.61, or 0.56%, to 7,909.28, and the S&P 500 declined 17.57, or 0.61%, to 2,878.20. Symbols: BA EADSY WYNN PFG WFC BAC TSLA CERN TLRA HOLI ZGNXSource: (thefly.com)