Here is what you need to know.
North Korea and South Korea have agreed to schedule their historic summit for April. North Korea and South Korea have agreed to hold their first summit in 11 years on April 27.
Saudi Arabia is about to join an exclusive club. The Saudi stock market will be added to the FTSE Russell’s emerging-market index, which will most likely bring in billions of dollars fresh capital.
Britain remains the slowest-growing major economy on earth. The British economy grew at a 0.4% clip in the fourth quarter, according to data released Thursday by the Office for National Statistics.
Everything is going wrong simultaneously for the tech juggernauts that have kept the market afloat for years. Major issues at stock market favorites like Facebook, Apple, Amazon, and Tesla have flared up at the same time, threatening to deprive the market of strength in a group that has been indispensable during the nine-year bull market.
Amazon slides after report said Trump wanted to go after the e-commerce giant. Amazon fell as much as 7.4% Wednesday following an Axios report suggesting President Donald Trump wanted to go after the company. Shares ended the day down 4.29% after the White House said it had no immediate plans for policy changes.
Tesla got slammed following its downgrade at Moody’s. Shares of the electric-car maker tumbled 7.67% Wednesday after Moody’s cut its corporate rating one notch to B3, citing a “significant shortfall” in Model 3 production.
Facebook is shutting down the use of 3rd-party data for ad targeting. The move to pull back on its ad-targeting offerings comes amid the controversy over the collecting of user data by the firm Cambridge Analytica.
CME is buying Nex Group. The exchange group CME has agreed to buy the British-headquartered interdealer broker Nex Group for 3.9 billion pounds ($5.48 billion), or 10 pounds a share. NEX shareholders will receive 5 pounds in cash and the remainder in CME shares.
Stock markets around the world are higher. China’s Shanghai Composite (+1.22%) led the gains in Asia, and Germany’s DAX (+0.98%) paces the gains in Europe. The S&P 500 is set to open up 0.52% near 2,619.
US economic data is heavy. Initial claims, personal income and spending, and PCE core prices will all be released at 8:30 a.m. ET before Chicago PMI and University of Michigan consumer confidence are announced at 9:45 a.m. ET and 10 a.m. ET respectively.