10 things you need to know before the opening bell
Here's what you need to know before the
1. Global stocks bounce as investors shrug off approval of China's new draconian law on Hong Kong, and look to 'galactic' coronavirus stimulus. In Europe and Japan, investors cheered the proposal of major new stimulus packages, while Hong Kong's Hang Seng dipped, and US futures were mixed.
2. Billionaire investor Carl Icahn dumped all of his Hertz shares at an almost $2 billion loss after the car-rental giant's bankruptcy. Billionaire investor Carl Icahn sold his 39% stake in Hertz at an almost $2 billion loss on Tuesday after the car-rental giant filed for bankruptcy last week.
3. Mohamed El-Erian compared coronavirus stimulus packages to a poker game, and warned policymakers going 'all in' could backfire. Governments and central banks have made significant headway with their responses to battle the coronavirus pandemic, but an "all in" approach could backfire, according to Mohamed El-Erian, chief economic adviser at Allianz.
4. An Amazon warehouse worker said engineer Tim Bray 'didn't take it far enough' when slamming the company for firing whistleblowers. Another Amazon employee has come out accusing the company of retaliating against dissent and union organizing.
5. Payments startup Marqeta raises $150 million, hits $4.3 billion valuation. Payment card issuing startup Marqeta has raised $150 million from a U.S. institutional investor, doubling its valuation to $4.3 billion, the company said on Thursday.
6. Trump leapfrogs back ahead of Obama in stock market gains. US President Donald Trump is once again beating predecessor Barack Obama in stock market performance following a stunning recovery on Wall Street.
7. EasyJet stock surges 7% as it slashes up to 4,500 jobs over COVID-19, and warns demand won't fully return until 2023. EasyJet announced it would cut 30% of its workforce, approximately 4,500 jobs, in the latest sign that coronavirus has ravaged the aviation industry.
8. Renault to take 3.6 billion euro hit from Nissan losses. French carmaker Renault said on Thursday that losses at its Japanese partner Nissan, in which it has a 43% stake, would drag on its on net earnings by 3.6 billion euros ($3.96 billion) in the first quarter.
9. First-quarter earnings coming in. Okta and Dollar Tree are coming in.
10. Economic data releases today. US initial jobless claims and Gross Domestic Product Price Index are due.Read the original article on Business Insider
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