10 things you need to know before the opening bell

Posted On 4:43 AM // Leave a Comment


Learn More about BI Prime	View online

10 Things Before the Opening Bell

Here is what you need to know.

1. Goldman Sachs sees a more 'hawkish' stance from Jerome Powell after the Fed's likely third rate cut this year. Goldman says today to keep an eye on the language used by the Fed chair, who the bank says will probably shift to favor tighter policy going forward.

2. Deutsche Bank tumbles on a disappointing quarterly loss after the 'necessary evil' spending on a massive overhaul. The bank is spending more to axe 18,000 jobs and as part of a major restructuring.

3. Italian-American automaker Fiat Chrysler confirmed on Wednesday it was holding talks with French rival Peugeot for a potential tie-up aimed at creating one of the world's leading groups in the automotive industry. The deal that could create a $50 billion player.

4. China's Foreign Ministry said on Wednesday that lead China and US trade negotiators will speak again soon. A US administration official said an interim trade agreement between the United States and China might not be completed in time for signing in Chile next month as expected.

5. VW lowers 2019 outlook for vehicle deliveries as demand cools. VW said a slowdown in global demand would result in Volkswagen Group vehicle deliveries in 2019 to be in line with year-earlier figures, adjusting its earlier forecast which had expected a slight increase.

6. The US economy likely slowed further in the third quarter, held back by a moderation in consumer spending and declining business investment. The Commerce Department's snapshot of gross domestic product on Wednesday will likely sketch a picture of an economy that is losing speed.

7. Mattel soars after earnings smashed estimates and after the Barbie maker calls its whistleblower allegations 'unfounded'. Shares rose more than 18% in premarket trading.

8. Stocks are muted going into the Fed rate decision. S&P 500 futures are flat, while the Nasdaq futures (+0.1%) are rising marginally. In Europe, The DAX (-0.2%) is down as is the Euro Stoxx 50 (-0.1%). In Asia, stocks closed falling, with the Nikkei (-0.6%), Shanghai Composite (-0.5%) and Hang Seng (-0.4%) in the red.

9. There's a heap of earnings out today. Facebook and Apple are the highlights.

10. There's a stack of data out today. The Fed rate decision and GDP is out.