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What's moving markets today: April 4, 2019

By CNN Business

Updated 5:38 p.m. ET, April 4, 2019
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8:20 a.m. ET, April 4, 2019

Kenmore's washing machines and dishwashers can automatically reorder detergent in new Amazon Dash deal

From CNN Business' Jordan Valinsky

Kenmore is deepening its partnership with Amazon with a new Dash integration that will automatically reorder cleaning products that are compatible with Kenmore dishwashers and laundry machines.

The Sears-owned brand said that a "select number" of Kenmore's machines can automatically reorder "laundry detergent, dishwasher pods, rinse aid or dryer sheets" from the owner's Amazon account.

Last year, Kenmore announced that all of its smart refrigerators would provide a similar automatic reordering feature for water and air filters.

6:39 a.m. ET, April 4, 2019

Elon Musk's battle with the SEC heads to court

From CNN Business' Jackie Wattles

A federal judge in New York will hear oral arguments Thursday at 2 pm ET in a lawsuit brought by the US Securities and Exchange Commission that seeks to hold Tesla CEO Elon Musk in contempt for violating a settlement deal.

Judge Alison Nathan is tasked with weighing the SEC's request that Musk be held in contempt for violating a settlement agreement reached last year. The agreement required Musk to get pre-approval for social media posts about the electric car company.

It's unclear whether Musk will be present and when Nathan will issue a ruling.

9:36 a.m. ET, April 4, 2019

Boeing shares move slightly higher after Ethiopian crash report

From CNN Business' Ivana Kottasová

The pilots of Ethiopian Airlines Flight 302 followed proper procedures but were not able to control the aircraft before it crashed, Ethiopian Transportation Ministry officials said Thursday.

The findings, part of preliminary report on the tragedy released by the ministry, are likely to place significant pressure on airplane manufacturer Boeing. The crash of the Boeing 737 Max 8 was the second in less than six months.

Boeing (BA) shares opened slightly higher Thursday.

Boeing did not immediately respond to the report, but it has said it will work with global regulators to investigate the cause of the crash.

  • Stay tuned for the latest updates here.
9:36 a.m. ET, April 4, 2019

Tesla stock falls 9% after reporting its biggest sales drop in history

From CNN Business' Michelle Toh

Tesla (TSLA) stock plunged 9% in early trading after it reported a massive drop in auto sales for the last quarter.

About 63,000 vehicles were delivered to customers in the first three months of 2019 — a 31% drop compared to the previous quarter.

It's the first quarter-to-quarter drop in sales at Tesla in nearly two years, and the single largest drop ever.

Slowing sales are a concern because Tesla needs to keep its sales pace high to pay down its sizable debts.

The figures don't come as a shock: Wall Street analysts had expected sales and deliveries of the Model 3 to be about 50,000. And Tesla had already said it expected Model S and Model X deliveries to be lower than they were a year earlier.

The company says it's still confident, though, it will reach its annual sales goal.

6:26 a.m. ET, April 4, 2019

Global markets check

From CNN Business' Ivana Kottasová

Here's what investors are watching:

  • 💷 The British pound edged higher Thursday after lawmakers voted to force the UK government to request another extension to the Brexit process.
  • 🏦 Shares in Commerzbank (CRZBF) jumped 3% in Frankfurt after the Financial Times said Italian bank UniCredit (UNCFF) is ready to make a rival offer for the German lender if talks with Deutsche Bank (DB) fall apart. UniCredit and Commerzbank both declined to comment.
  • 🇩🇪 German factory orders plunged 4.2% in February compared to the previous month. It was the worst monthly drop since January 2017.

6:25 a.m. ET, April 4, 2019

India slashes rates again

From CNN Business' Rishi Iyengar

India's central bank just cut interest rates for the second time in two months, giving the slowing economy a shot in the arm days before national elections.

The Reserve Bank of India (RBI) lowered its main rate from 6.25% to 6% on Thursday, citing a slowdown in the economy at home and abroad.

India's GDP slumped to 6.6% in the quarter ended December, a sharp drop from the 7.1% and 8.2% growth recorded in the previous two quarters.

The rate cut gives Prime Minister Narendra Modi a boost in his attempt to win a second term in office when polling begins next week.

Shilan Shah, India economist at Capital Economics, said in a note Thursday:

On the eve of the general election, the Reserve Bank of India has delivered another gift to the government."