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Here's what you need to know before the markets open. 1. 'A glimmer of hope': Stocks, oil jump on signs of a Chinese manufacturing recovery and progress in the coronavirus fight in Europe. Analysts were skeptical of the Chinese PMI reading, arguing it was "incompatible" with past figures. 2. Global M&A plunges to 11-year low as coronavirus fears discourage deals. Worldwide transactions totaled $12.5 billion, the smallest weekly value since April 2009 per Refinitiv data. 3. HelloFresh shares hit record high due to virus sales boost. The meal-kit delivery firm expects strong first-quarter sales and profits as coronavirus lockdowns lift demand. 4. Huawei posts 5.6% rise in 2019 profit, the smallest increase in 3 years. The Chinese telecoms titan suffered from weak overseas sales and barriers to its global expansion due to security concerns. 5. IKEA starts producing protective gear for healthcare workers. The world's biggest furniture brand is making aprons and facemasks for hospitals dealing with the novel coronavirus pandemic. 6. Ford delays North American production due to coronavirus safety concerns. The US auto giant previously aimed to restart output as early as April 6. 7. Apple supplier Japan Display finalizes deal to raise $200 million from 'an overseas customer.' Apple is forking over the funds to the maker of smartphone screens, sources told Reuters. 8. Stocks are mixed. In Europe, Germany's DAX was flat, Britain's FTSE 100 rose 0.4%, and the Euro Stoxx 50 fell 0.4%. In Asia, China's Shanghai Composite rose 0.1%, Hong Kong's Hang Seng rose 1.9%, and Japan's Nikkei fell 0.9%. In the US, futures underlying the Dow Jones Industrial Average and the S&P 500 fell between 0.3% and 0.4%, while Nasdaq futures were flat. 9. There's a raft of earnings out. Xiaomi and Conagra Brands are two highlights. 10. Key data is due. Investors will be hungry for insights into US consumer confidence. |
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