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A crucial day for markets ahead of Amazon's earnings and the release of US GDP figures.

Plus China steps up its Ukraine diplomacy and Russian oil prices surge, setting up a key test for Western sanctions.

It's illegal for G7 companies to facilitate the movement of Russian oil by financing, trading, ensuring that oil, unless the price is below 60.

So far, the US hasn't really had to enforce this because the price has been below.

Now the US has to decide does it really want to crack down?

It's Thursday, April 27th. I'm Luke Vargas with The Wall Street Journal, and here is the AM edition of What's News,

the top headlines and business stories moving your world today.

We begin with quarterly earnings in what is set to be the busiest day for major companies all week,

with reports due from the likes of Eli Lilly, Caterpillar, Mondalees, American and Southwest Airlines, Comcast, Mastercard, and a bunch of tech firms as well.

Europe and Asia started things off this morning with Deutsche Bank reporting its 11th consecutive quarter of profit,

despite the lender coming under pressure during March's banking turmoil.

First quarter profit at the bank rose 8% from a year ago, thanks to strong performance of its lending business, which benefited from rising interest rates.

Journal Finance reporter Patricia Kausman says that markets have taken Deutsche's numbers well, as they look for signs about the strength of European banks.

The thing though that investors probably look more at instead of the actual results is how well it held during the March turmoil,

and there we saw that they lost some deposits, actually it was very little, so nothing to panic about.

And the financial chief said deposits have gone up ever since.

That said it also shows how fragile everything is, right? Like suddenly a bank can get hit because some other bank got hit and investors for some reason think this bank is weaker,

so everybody needs to really pay attention. And I think these banks are clearly paying attention and looking at their risks and trying to clean up as much as they can following what happened.

The earnings picture meanwhile is gloomier at Korean tech giant Samsung, which said its first quarter net profit fell of full 86% from a year earlier due to a large loss in its semiconductor segment.

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