10 things you need to know before the opening bell
This is what traders are talking about.
- Trade talks between Trump and Xi have been pushed back until at least April. President Donald Trump and Chinese President Xi Jinping will likely meet in April "at the earliest," Bloomberg reports. Trump has said a deal could be reached ahead of any face-to-face meeting.
- China's data dump was disappointing. China's unemployment rate jumped from 4.9% in December to 5.3% in February as industrial output rose 5.3% year-over-year, its slowest pace in 17 years, according to data released Thursday by the National Bureau of Statistics.
- A new survey found zero top US economists found agree with the basic principles of MMT. Modern Monetary Theory is becoming a larger part of the economic conversation after seeing support from Rep. Alexandria Ocasio-Cortez, but a survey of 42 of America's top economists conducted by the University of Chicago's Booth School of Business found that not a single respondent agreed with its basic aspects.
- A man that sells his investing ideas to the biggest and best firms shares his top trade for the next 10 years. Rob Arnott, the chairman and chief executive of the Pimco subadviser Research Affiliates LLC, tells Business Insider why investors should load up on emerging market equities over the next decade.
- There are 2 reasons why Boeing's stock didn't tank after Trump grounded the 737 Max aircraft. Boeing's stock was already down 17% from its March high, and a grounding of the aircraft is unlikely to have a long-term business impact on the planemaker.
- Facebook is under criminal investigation for deals that gave companies access to user data. Federal prosecutors are looking into data-sharing deals that Facebook made with Apple, Amazon, and other device makers that gave them to access user data, including friend lists, contact information, and even private messages - and not always with the user's consent - The New York Times reports.
- A bunch of Americans don't have any savings. About 21% of Americans aren't saving any money at all, and the majority are saving less than 10% of their income, according to a new survey conducted by Bankrate.
- Stock markets around the world were mostly higher. China's Shanghai Composite (-1.2%) trailed in Asia and Britain's FTSE (+0.39%) held gains in Europe. The S&P 500 was set to open up 0.1% near 2,814.
- Earnings reports keep coming. Dollar General and Ulta Beauty report ahead of the opening bell while Broadcom and Oracle release their quarterly results after markets close.
- US economic data is light. Initial claims will be released at 8:30 a.m. ET and new home sales will cross the wires at 10 a.m. ET. The US 10-year yield was little changed near 2.63%.