Stock market news today: Investors prepare for first-quarter earnings

Wall Street analysts have been pessimistic about the quarter's results, with earnings estimates falling by much more than usual, according to DataTrek Research. Analysts have lowered their Q1That 6.3% decline is more than typical, suggesting elevated interest rates and a recent banking crisis are weighing on sentiment and could ultimately dent company results.

"Analysts always cut numbers as the quarter progresses but not, on average, by as much as we've just seen," DataTrek Research co-founder Nicholas Colas said in a Tuesday note.Here's where US indexes stood shortly after the 9:30 a.m. ET opening bell on Tuesday:

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Wells Fargo says investors should expect a 10% stock market correction soon'We are within spitting distance of our 4200 [S&P 500] target and now shifting direction,' wrote Christopher Harvey. Definitely past due for a correction. 10% sounds a bit overdone. 😇 just amazing how many of these called 'pros' have been so wrong and are now doubling down At some point this year, it will rain.
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