10 things you need to know before the opening bell
Here is what you need to know.1. Amazon's earnings shocker is set to wipe over $50 billion from its market cap. The tech giant missed analyst estimates for its latest earnings. Advertisement
2. BMW CEO says trade war could cost American jobs. Oliver Zipse said on Friday an imposition of trade barriers would hamper the ability of BMW's largest car factory, based in Spartanburg, South Carolina, to export around 70% of its products across the globe.
3.WeWork's biggest Chinese rival is reportedly planning to go public in the US this year. Ucommune, valued at $2.6 billion about a year ago, has filed a confidential IPO prospectus with the SEC, Reuters reported.4. China's Xi urges acceleration of development of blockchain technology as the core for innovation. He made the comments at a study session of the Politburo held on Thursday.
5. Billionaire Ken Fisher's losses approach $3 billion after Goldman Sachs reportedly drops him over sexist comments. The banking titan's $234 million withdrawal takes the money manager's total reported losses to $2.7 billion.6. Amazon expects one-day shipping will cost it $1.5 billion over the holiday season. Amazon is preparing itself for additional one-day shipping expenses during the fourth quarter. 7. The full Lion Air crash report hammers Boeing for design flaws that brought down a 737 Max and killed 189 people. The report criticized Boeing for not telling pilots about the system and for failing to notice that an alert in the plane was not working.Advertisement
8. Stocks are nudging upwards on Friday. US futures underlying the S&P 500 (+0.1%) and the Nasdaq (+0.2%) are rising. In Europe, the DAX (-0.2%) and Euro Stoxx 50 (-0.3%) are down. Asian stocks closed mixed as the Nikkei (+0.2%) and Shanghai Composite (+0.5%) rose but the Hang Seng (-0.5%) fell.
9. There is a stack of earnings out. Barclays and AB Inbev both released earnings earlier today.10. Today is a quieter day for data. The Michigan Consumer Sentiment Index is the highlight.Advertisement
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