Wall Street's sour mood; Tesla's new reveal; Apple Watch glitch

Investors getting set to leave the month of April in a bit of a sour mood after yesterday's losses (^GSPC) that were prompted by a Commerce Department report showing weak first-quarter economic growth and little news from the Federal Reserve about when it might raise interest rates.

However, Yahoo Finance Senior Columnist Michael Santoli says today's Labor Department data showing a higher-than-expected rise on employment costs might clear the air a bit about when Janet Yellen and company may act.

"Wages and salaries-- including benefits-- have been inching higher," he notes.  "And we're watching this a little more closely this time around because the Federal Reserve is keying off of wage growth, they want to see it pick up. This might get people thinking more that a September rate increase might still be in play."

Also from the Labor Department today, initial jobless claims dropped 34,000 last week to 262,000, the lowest level in 15 years.  And the Commerce Department finds personal income was flat in March, while consumer spending increased 0.4%.

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ExxonMobil hurt by low oil prices

Here’s a look at some of the stocks the Yahoo Finance team will be tracking for you today.

ExxonMobil (XOM) shares are higher in early trading. The oil giant reporting a beat on both its top and bottom line. However, the sharp drop in oil prices took on toll on profits, which were down 46% from a year earlier. Exxon already said it would cut its capital spending by12% this year and scale back its stock buybacks. The company also increased its quarterly dividend by 6%.

Viacom’s (VIAB) second quarter adjusted earnings topped Wall Street views, but revenue fell short of estimates. Sales fell nearly 3% from a year earlier as the owner of Nickelodeon, MTV, Comedy Central and Paramount Pictures saw domestic ad revenue decline due to weak ratings of some of its popular programs.

Related: ExxonMobil higher on beat;Yelp tanks;Tesla unveil today

Time Warner Cable (TWC) shares are also on investors' radar. The cable TV operator reporting weaker-than-expected earnings and revenue in the first quarter as higher TV programming costs offset strong subscriber growth. This comes a week after Comcast (CMCSA) and Time Warner Cable agreed to call off their merger amid pressure from regulators that the merger would stifle competition.

Yelp (YELP) shares are falling in early trading after the consumer review site provided a weak sales outlook for the current quarter.  The company reporting monthly unique visitors slowed in the first quarter...and although revenue rose 55% from a year earlier, it still missed analysts' estimates.

Tesla Motors (TSLA) is set to announce a new product today...but it's not a car.  Speculation is CEO Elon Musk will unveil batteries for homes and businesses that are more advanced than what's currently on the market.

Sony (SNE) says it expects operating profits to quadruple this year. The forecasts for a turnaround come as the electronics maker completes its restructuring efforts.

Salesforce.com (CRM) has reportedly been preparing for a possible takeover bid. However, Bloomberg says that it is not clear if a deal will go through.

Apple Watch defect

Apple (AAPL) apparently found defects with a component of the Apple watch, which prompted the tech giant to limit the availability of the device. The Wall Street Journal reports that the watch's taptic engine, which creates a tapping sensation, started to break down over time.