10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, SNAP, CAT, AMZN, JPM, BRK.A)

Reuters/Hannah Mckay

Here is what you need to know.

The 10-year hits 3%. The benchmark yield ticked above 3% for the first time since January 2014 on Tuesday morning. It’s currently up 2 basis points at 3.02%.

Americans just made a major about-face on the stock market for the first time since Trump’s election. For the first time since the 2016 US election, more Americans expect stocks to fall over the next 12 months than rise, according to the Conference Board’s Consumer Confidence survey in April.

BlackRock’s $1.8 trillion bond chief explains how millennials are spearheading an economic revolution. Rick Rieder, the chief investment officer of fixed income at BlackRock who oversees $1.8 trillion, says the growing dynamic of millennial technological adoption is alleviating one of the market’s biggest fears, while also challenging traditional economic models.

Takeda is buying Adderall maker Shire for $64 billion. The deal strengthens Takeda’s US footprint, where Shire has a large presence, and also expands its position in rare diseases like hemophilia.

Snapchat is testing a rollback to the most controversial part of its app redesign. The camera company confirmed with Business Insider on Tuesday that it is testing a new design for its app that would walk back some of the biggest changes made as part of the original redesign in February.

Caterpillar warns its first quarter earnings represent a ‘high watermark’ for the year. The maker of large industrial equipment beat on both the top and bottom lines and raised its full year earnings forecast Tuesday, but shares tumbled more than 6% after executives on the conference call warned the first quarter was as good as it gets.