10 things you need to know before the opening bell
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Jonathan Garber
Mar 5, 2019, 17:26 IST
Reuters/Regis Duvignau
Models present creations by late designer Karl Lagerfeld as part of his Fall/Winter 2019-2020 women's ready-to-wear collection show for fashion house Chanel at the Grand Palais during Paris Fashion Week in Paris, France.
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Here is what you need to know.
China cuts its growth target. China's central government said Monday that it will target GDP growth of 6% to 6.5%, down from its hard 6.5% target.
The trade war cost Americans $1.4 billion a month last year. "The entire incidence of the tariffs fell on domestic consumers and importers up to now, with no impact so far on the prices received by foreign exporters," economists Mary Amiti, Stephen Redding, and David Weinstein wrote in a new study by the New York Federal Reserve, Princeton, and Columbia.
Papa John's settles with Papa John. The pizza chain Papa John's and founder John Schnatter have reached a settlement agreement where Schnatter will dismiss his lawsuit against the company and resign from its board, Bloomberg reports.
Whitney Tilson says Tesla will plunge below $100 this year. Tilson, the former manager of Kase Capital, said he senses that "the number of investors who are losing confidence in Musk is finally exceeding those who are drinking his Kool Aid."
Blue Apron is back below $1. The stock has tumbled more than 27% since Wednesday, when Bessemer Venture Partners sold a block of 15 million shares at an 11% discount to the prior day's closing price.
Earnings reporting picks back up. Kohl's and Target report ahead of the opening bell while Ross Stores releases its quarterly results after markets close.
US economic data flows. Markit services PMI will be released at 9:45 a.m. ET before ISM non-manufacturing and new homes sales cross the wires at 10 a.m. ET. The US 10-year yield is up 1.3 basis points at 2.74%.
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China just slashed its target for economic growth, and it's a sign of how much pain Trump's trade war is causing