What's moving markets today: March 29, 2019

By CNN Business

Updated 4:52 p.m. ET, April 29, 2019
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7:13 a.m. ET, April 29, 2019

Spotify surpasses 100 million paid subscribers

From CNN Business' Jordan Valinsky

Spotify (SPOT) now has 100 million people globally paying for its premium music service, a 32% jump year-over-year. The company revealed that it had reached milestone in its first quarter earnings.

Here's what else you should know:

  • Spotify brought in $1.7 billion in quarterly revenue, slightly above analysts' expectations.
  • In total, Spotify has 217 million monthly users, a leap of 26% year-over-year.
  • It said its recently launched Indian service now has 2 million subscribers and added that "growth has continued to outpace our expectations."
  • Shares are up nearly 5% in premarket trading.
7:23 a.m. ET, April 29, 2019

Tesla shares rise after Musk reaches an agreement over tweeting

From CNN Business' Jordan Valinsky

Tesla (TSLA) shares are climbing 1.5% in premarket trading following an agreement sealed late Friday over his tweets.

CEO Elon Musk and the US Securities and Exchange Commission agreed to amend a settlement deal approved last October that required oversight of Musk's social media use.

The updated deal outlines a slew of topics Musk cannot tweet about until he obtains pre-approval from an "experienced securities lawyer."

Today's losses claw back some of the stock's Friday losses, when it closed 5% lower.

6:19 a.m. ET, April 29, 2019

Boeing CEO faces shareholders

From CNN Business' Charles Riley

Boeing (BA) is likely to face tough questions from shareholders at its annual meeting later today.

CEO Dennis Muilenburg will appear before investors in Chicago after two deadly crashes of its 737 Max in less than six months.

CNN has reported that four Boeing employees called an FAA whistleblower hotline the day after Ethiopia released a preliminary crash report on Ethiopian Airlines flight 302.

Among the information they provided is a previously unreported issue involving damage to the wiring of the angle of attack sensor by a foreign object, according to the source.

The continued grounding of the 737 Max is costing airlines hundreds of millions of dollars.

American Airlines (AAL), Southwest Airlines (LUV) and European budget carrier Norwegian all revealed last week that the inability to use the aircraft will cost them nearly $600 million combined.

6:26 a.m. ET, April 29, 2019

What to expect from Alphabet earnings

From CNN Business' Charles Riley

Google's parent company, Alphabet, has another chance today to show off the strength of its massive advertising business.

Analysts surveyed by Refinitiv expect Alphabet (GOOGL) to report first-quarter sales of $37.3 billion, an increase of 20% over the same period last year.

Net income is forecast to rise 6.5% to $7.5 billion. The company reports earnings after the closing bell.

Some of the biggest names in tech have surprised analysts with strong openings to 2019. Facebook (FBand Amazon (AMZN), for example, have already topped Wall Street's expectations.

6:19 a.m. ET, April 29, 2019

Checking in on global markets

From CNN Business' Charles Riley

Here's what investors are keeping an eye on:

  • Crude oil futures dropped Monday, continuing a slide fueled by President Donald Trump's call for OPEC to increase production. Both US crude futures and brent crude were down 0.5% on Monday.
  • Anadarko Petroleum (APC) is preparing to recommend a $76 per share takeover offer from Occidental Petroleum (OXY), according to the Financial Times. The bid is about 20% richer than a deal Anadarko reached earlier this month with Chevron (CVX).
  • The Milken Institute's annual Global Conference is taking place in Los Angeles. Stay tuned for live coverage on CNNBusiness.com.