Here is what you need to know.
China threatens to cut off trade talks, pressuring
stocks. “If there is no real concrete action by the
United States, it will be meaningless for you to come and talk,”
the Chinese Communist Party said in a commentary published by
Taoran Notes, a social-media account tied to Economic Daily, a
state-run newspaper. China’s Shanghai Composite (-2.48%) led the
losses in Asia, and Germany’s DAX (-0.67%) trails in Europe. The
S&P 500 is set to open down 0.42% near 2,864.
Amazon is going after Uber in delivery. Amazon on
Friday announced a $575 million investment in the UK-based
food-delivery startup Deliveroo.
Boeing completes its 737 Max software fix. The
planemaker is now working with the Federal Aviation Administration
to schedule certification flights and to prepare its certification
Pinterest tanks as guidance comes up short. The
visual-bookmarking platform posted a larger-than-expected loss and
gave a disappointing full-year revenue forecast, sending shares
down by as much as 19% late Thursday.
Nvidia beats. Shares gained more than 5% late Thursday
after the chipmaker reported top- and bottom-line beats and gave
guidance that outpaced expectations.
Luckin Coffee is going public. Starbucks’ biggest
competitor in China priced its initial public offering at $17 a
share, raising at least $571.2 million.
Here’s what could happen if China uses its ‘nuclear option’ in the
trade war. Chinese scholars are reportedly looking
into the so-called nuclear option in the trade war — Beijing
dumping US Treasurys — setting off a debate about what could
happen if China divested its holdings.
tanking. The cryptocurrency was down nearly 8%,
trading at $7,266 a coin.
Earnings reports trickle out. Deere releases its
quarterly results ahead of the opening bell.
US economic data is light. University of Michigan
consumer confidence will be released at 8:30 a.m. ET. The US
10-year yield is down 1.1 basis points at 2.38%.
Source: FS – All – Economy – News
10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, UBER, AMZN, NVDA, PINS, BA)